Subdivision opens door to opportunity in Māngere Bridge
One of the few remaining developable industrial sites in Māngere Bridge is available to purchase, offering buyers the rare opportunity to acquire a prime site with long-term upside in a sought-after location.
Lot 2, 70 Hastie Ave, Māngere Bridge, is a newly created freehold site spanning 3778sq m zoned Business–Light Industry under the Auckland Unitary Plan. It is a largely regular shape and will be accessed by a right-of-way from Hastie Ave.
Less than 1km from SH20, the surrounding area is well served by major arterial routes providing easy access to all corners of Auckland. The CBD is approximately 13km away, while Auckland Airport can be reached quickly.
Colliers directors Todd Kuzmich and Paul Jarvie have been appointed to market the property for sale by deadline private treaty closing at 4pm on Tuesday 20 September, unless sold prior.
The occupiers have used the site as storage for machinery for their piling business and are moving to a new premises, which has led to the opportunity to subdivide and create the new lot.
Kuzmich says it is incredibly rare to see sites such as this one become available on the open market, given the scarcity of developable land in this established industrial precinct.
“There is a considerable shortage of sites of this size and scale that can be developed to meet the growing needs of Auckland businesses,” Kuzmich says.
“This is a highly desirable and tightly held location. Given the historically low vacancy rates for industrial property in Auckland, there will be strong demand for this site.”
Kuzmich says the zoning will be appealing for buyers given the flexibility offered by this designation.
“The largely flat and regular-shaped site means it can be developed in a range of ways and will be highly appealing for a wide array of buyers from owner-occupiers to investors.”
The neighbouring site, Lot 1, 70 Hastie Ave is home to a 1795sq m office and warehouse building with 60sq m of canopy and a 400sq m yard that will become available for lease following subdivision.
The building was constructed in 2013 as a purpose-built facility for the piling company and offers a high stud, clear span warehouse with a well-maintained airconditioned office space.
Jarvie says there is potential for an occupier to acquire Lot 2 to develop and Lot 1 to lease.
“The adjoining sites provide prospective purchasers with a range of options and buyers may see value in leasing Lot 1, while adding further facilities in the developable site,” Jarvie says. “The surrounding area is home to a number of well-known industrial operators such as Oji Fibre Solutions, Hubbard Foods and Woolworths.
“Further construction is in the pipeline that will only solidify this precinct as one of Auckland’s most sought-after industrial spots given its favourable proximity to the nearby motorway network. The Waterview Tunnel connection provides even greater access to the wider Auckland area.”