‘Peerless opportunity’ in two versatile Morningside sites
Two versatile industrial buildings on mixed-use land have been offered for sale with vacant possession in what is being marketed as a ‘peerless opportunity’ in Auckland’s CBD fringe.
The adjacent freehold properties at the corner of Taylors and Gordon roads, Morningside, are on the market for the first time.
With a combined floor area of 2011sq m on
2554sq m of development-friendly land, and some 100m of road frontage, the real estate is positioned within a fast-rising commercial and residential precinct.
Colliers has been exclusively appointed to market 6-8 Taylors Rd and 2-4 Gordon Rd, Morningside, for sale together or separately. Sale will be by deadline private treaty closing at
4pm on Thursday 15 July, unless the properties are sold prior.
Jonathan Lynch, industrial associate director at Colliers, says 6-8 Taylors Rd contains a warehouse of some 778sq m, ground-floor office amenities of 121sq m plus a 107sq m first-floor office. It sits on approximately 1416sq m of freehold land with 11 carparks.
The approximately 1138sq m of freehold land at 2-4 Gordon Rd houses a building with a 780sq m warehouse, a ground-floor showroom and offices totalling 86sq m, and 79sq m of first-floor mezzanine storage, office and amenities. This property comes with 10 carparks.
“Industrial buildings of scale, anywhere in the CBD fringe, are scarcely available and rarely come to market – let alone two adjacent offerings of this size and quality going up for sale for the first time,” Lynch says. “Home in recent years to a New Zealand manufacturer of home shading systems, these sites will present buyers with an even rarer opportunity – to acquire them with vacant possession, allowing a new owner to make plans immediately.
“The options are numerous and will appeal to multiple buyer types, including owneroccupiers, add-value investors and developers. The possibilities are compounded by the ability to purchase either the entire 2000-plus sq m of improvements or buy one of the buildings at about half this floor area.”
The properties’ considerable long-term redevelopment potential is underpinned by their Business – Mixed Use zoning, allowing a building height of up to 18m.
Matt Prentice, industrial sales and leasing director at Colliers, says this zone provides for residential development as well as smaller-scale commercial activities such as offices, retail and supermarkets to food and beverage, visitor accommodation, entertainment, education and healthcare facilities, industrial laboratories and light manufacturing.
“The development and intensification opportunities presented by this zone are transforming parts of Auckland’s city fringe. In Morningside, it is helping to drive a wave of urban renewal which has made the suburb one of Auckland’s most loved and fashionable commercial and residential precincts.
“The area is seeing unprecedented development activity, including caf and hospitality hubs, warehouse conversions to high-end offices, and new bulk retail operations,” says Prentice.