Corner site on two titles in Papakura
A prominently positioned corner property with an established tenant in the soughtafter Papakura industrial precinct offers buyers the opportunity to acquire an industrial investment with low site coverage and add-value potential.
2-4 Parker St features 1409sq m of total net lettable area on an 8099sq m site which is split across two freehold titles and sits on the corner of Hunua Rd and Parker St. The property is zoned Business–Light Industry under the Auckland Unitary Plan.
The property has in-demand features and multiple access points with a functional layout that includes a significant yard area.
Henderson Demolition is the current tenant, beginning a six-year lease in May with one further right of renewal for three years leading to a final expiry of May 2031.
The lease returns $365,000 plus GST in net annual rental income and includes CPI and market rent reviews in alternating years.
The highly visible property is perfectly positioned to benefit from new developments and improved infrastructure nearby. SH1 is only 3km away, providing access to Auckland’s CBD and the major industrial precincts to the north.
Colliers directors Paul Higgins and Josh Franklin are marketing the property. The deadline for offers closes at 4pm on Wednesday 12 October, unless sold prior.
The property includes 220m of total road frontage with 100m onto the area’s main arterial route, Hunua Rd, and 120m to Parker St. Adding to the appeal and functionality are three points of access/ driveways, which makes splitting the sites a viable possibility in the future.
The warehouse at 2 Parker St boasts excellent access while the site has dual driveways. 4 Parker St is a functionalshaped site with good access and a small canopy and office area on the boundary. Both sites offer extensive yard space.
The Papakura industrial precinct continues to develop with new complexes recently being completed in the area, including five high-quality industrial buildings on 83 Boundary Rd and new buildings at 90 and 98 Hunua Rd.
Higgins says the property offers a strong tenant covenant coupled with future development opportunities. “Buyers will be able to enjoy the steady rental stream from an established tenant with a lease structure that caters to both CPI and market increases.”
Franklin says the high-profile site is strategically located in an area that has grown through ongoing infrastructure investment.