Bare land an Albany enigma
Agents say the last piece of bare developable land in the North Shore’s Interplex Business/Industrial area is now for sale. CBRE’s Deborah Dowling and Brett Whalley are marketing 11 Triton Dr, by way of deadline private treaty, closing 12pm on March 21 — unless sold earlier.
Dowling says the vendors have decided to divest themselves of the 4,189sq m freehold property, and move on to other projects.
“So an investor, developer or owneroccupier has the opportunity to purchase the last site with General-Business zoning, in a location close to the new bus Park’N Ride station, and one with excellent motorway access,” Dowling says.
“At a time when commercial land is so scare and when Albany is receiving unprecedented interest, I think we’ve saved the best till last.”
She says the almost square site sits slightly above road level, is relatively flat with an easy rise towards the rear boundary. This would give any future building prominence and a strong profile over the street and surrounding buildings.
Whalley adds that the 60m frontage along Triton Dr would also allow flexible and safe access points for vehicle entry, plus excellent profile for the business, or businesses there.
“Neighbours here include Landmark Homes, HRV, Budget Car and Truck Rental, Rylock Windows and Doors, and New Zealand Pure Dairy Products Ltd,” Whalley says. “And for scores of folk at these companies, seeing such a valuable land left vacant for so long, has been the source of intense curiosity.”
Dowling says the zoning enables activities, from light industrial to offices; or large format retail of greater than 450sq m gross floor area per-tenancy.
The site would suite drive-through restaurants, trade suppliers, marine and motor vehicle sales and entertainment facilities, marae or church groups.
“Under this zoning, buildings may be constructed up to a height of 16.5m, subject to boundary setback and variation controls. Side and rear yards are not required.”
However, residential activity would not be allowed due to the proximity of light industry, plus Council’s preference for appropriate commercial use in the area.
Whalley notes the largest decreases in vacant space across Auckland over the last quarter of 2018, were in New Lynn (4500sq m); followed by Albany (3400sq m).
“So 11 Triton Dr would provide a purchaser with the unique opportunity to build their perfect business premises, or develop for on-sale.”
CBRE’s latest research shows that overall Auckland industrial vacancy stands at
1.1 per cent in an environment of healthy demand. Grade A vacant stock sits at
51,700sq m, or 1.0 per cent across Auckland. This should be viewed in the context of 139,000sq m of newly completed Grade A developments, 124,700sq m of which was occupied at completion. And, of the
33 new buildings completed in the quarter, only three remained vacant at completion.