Grunty Seaview industrial property for sale
Close to 3000 square metres of land with factory warehousing, offices and a dedicated dangerous goods store is for sale in Wellington’s preferred industrial precinct, where the expiring lease from the long-term tenant opens the door to owner-occupiers or add-value investors.
The property at 12 Barnes Street, Seaview, Lower Hutt is zoned Special Business and was originally built for a printing business. It is currently home to the Wellington manufacturing branch of privately-owned Australian-headquartered company Mirotone, a leading supplier of interior and exterior surface coatings, which also has a New Zealand presence in Auckland and Christchurch.
Mirotone NZ Limited’s Seaview lease expires on 28th February 2026 and returns annual net income of $238,898 plus GST.
The property is for sale by tender closing 24th April through Bayleys.
Richard Faisandier of Bayleys Wellington Commercial understands that Mirotone has occupied the site for around 25 years, with the property well-suited to its operation.
While there are no further rights of renewal to be exercised on the existing lease, Faisandier says “never say never” and regardless, he’s been fielding robust enquiry from pure investors who seem confident that there will be occupier demand for such a site should the existing tenant move on.
Faisandier says the purpose-built dangerous goods’ store will have significant value to certain business types and a property like this is hard to replicate in the Wellington region.
“The location, zoning and property itself supports a more grunty, heavy industrial occupier and there’s very little vacancy in the Seaview precinct – likely sub-2% currently.
“This type of property is largely insulated from fluctuating demand patterns in the wider industrial sector as it’s suitable for a specific niche market segment.
“With changing import dynamics given the ongoing supply chain inefficiencies and cost hikes, many products that have traditionally been offshored are now viable to be manufactured locally so we’re getting good enquiry on the property.”
Currently used for paint manufacturing, the 1638sqm main factory building located on the northern and western boundaries is durable and functional with precast reinforced concrete boundary walls, concrete floor and foundations, long-run galvanised roofing with glazing and long-run cladding on the front and side factory walls. There are offices and amenities included in this building.
A 209sqm high-stud dangerous goods store has been built adjacent to the main building, and the property as a whole benefits from large yard areas around the side and rear of the building with additional yard/ storage/parking in the redundant railway siding.
Faisandier says given the shortage of industrial property in the Seaview precinct and neighbouring Gracefield, and the lack of heavy industrial space for sale or lease in the wider Wellington region, this property will have value for either an owner-occupier looking to relocate, or an investor prepared to find a new tenant.
“The holding income through until the end of February 2026 would allow a new local owner-occupier time to exit their current lease, give an out-of-town operator time the best part of two years to transition to the site while collecting income, or provide an investor the opportunity to re-lease the property when the current occupier vacates.”
The property is located on the southern side of Barnes Street, which is a wide feeder road suited to heavy vehicular traffic, and bisects Port and Seaview Roads.
The area is dominated by large warehouse and factory buildings with a mix of freight, storage and distribution users along with smaller service providers. Big name national and multi-national tenants in the area include Placemakers, BOC Gases, Mobil, BP, NZ Post, Truck Stops NZ, New Zealand Van Lines, Oppenheimer, Linfox, Mainfreight, Animates and Winstones.