Albany yard-based industrial a rarity
A former landscape supply centre for sale on Auckland’s North Shore presents an opportunity to secure a developable landholding in an area where yard-based industrial sites are almost non-existent.
The 7488sq m freehold property at 4 Henry Rose Place, Albany, is strategically located only 1km from the northern motorway interchange.
It predominantly comprises a flat, metaled yard with wide road frontage, along with a small number of industrial buildings.
Colliers International director Shoneet Chand says yards on the North Shore are in short supply, making this an ideal long-term hold in a sought-after location.
“A large portion of industrial land on the North Shore is covered by restrictive covenants that prevent engineering or yard-based activities.
“As a result, these types of uses have tended to concentrate on the Henry Rose Place, Tawa Drive, Tait and Cowley Place subdivisions which do not have this limitation on use.
“Sites of this nature are tightly held, especially those so close to the motorway, with consistently strong demand from quality tenants.
“This is a superb chance for owner-occupiers, investors or developers to acquire a type of landholding that very scarcely changes hands or makes it to the open market in this location.”
Colliers International has been exclusively appointed to market 4 Henry Rose Place for sale by deadline private treaty closing at 4pm on Wednesday, 10 July, 2019, unless it sells earlier.
It is available with vacant possession, making it a versatile purchase for a range of different buyers.
Industrial Director Matt Prentice, of Colliers International’s North Shore office, says the property was previously used as a landscape supplies yard.
“The property comprises a substantial yard area along with a central workshop building and various ancillary structures, the majority of which are relocated or built from secondhand buildings.
“The buildings include two relocatable offices and a tank fabrication facility, built in 2001, which is centrally positioned at the rear.
“The structures have a combined area of just under 630sq m, representing only 10 per cent of the total lettable area.
“The yard offers 5640sq m of lettable space, with security fencing to the perimeter and landscaping to the frontage.
“Most of the concrete yard has been inlaid with a metal aggregate surface in order to accommodate the activities on site.”
The property is on the western side of Henry Rose Place, some 80m north of its intersection with Rosedale Rd. The road is a cul-de-sac, which makes for light traffic flows and easy access.
A bus depot and an engineering workshop lie to the north, while a retail and office development fronting Rosedale Rd lies to the south. The retail offerings include a cafe and tavern.
The rear boundary adjoins an area of residential development, while the opposite side of the road comprises a number of multi-unit industrial developments.
The property offers good access to the wider North Shore and other Auckland locations.
The northern motorway and Albany expressway interchanges are a short drive away via Tawa Drive, putting Auckland CBD within 15 minutes’ drive outside of peak times.
Albany remains an extremely popular location, as evidenced by its extremely low industrial vacancy rate.
The wider North Harbour area has only 1.9 per cent vacancy, according to the latest Colliers International survey. This shows continued demand for industrial property in the area.
Nearby properties are occupied by many well-known brands such as Carters, Ritchies, Mico, National Mini Storage, Hynds Pipe Systems and Hirepool.
The surrounding location is going through significant transformation, with the planned $70 million Rosedale Busway Station due for completion by 2022.
This will provide significant benefits to commuters and businesses.