Versatility key to Rosebank asset
An industrial property along Auckland’s tightly-held northwest corridor is positioned to capitalise on the high demand for properties with scope of use and significant long-term development potential.
The predominantly vacant property on 2276sq m of freehold land at 651 Rosebank Rd, Avondale, lies within an established industrial precinct accessible to Auckland’s CBD, port and economic activity in the NorthWest region.
Bayleys salesperson Matt Clifford says the property is offered at a time of demand for industrial premises given persistent shortages of appropriately zoned land.
“Businesses are expanding operations and purchasing premises to offset rapidly rising rental rates, pitting them against developers and investors – particularly given an increasing attraction to established precincts strategically positioned to benefit from key transport links and existing infrastructure.
“There is a high demand from occupants for facilities which reach the largest population in the shortest time, with the Rosebank Peninsula providing proximity to key employment areas and the potential for expansion given large-scale residential, commercial and light industrial development opportunities within the adjoining town centre.”
Clifford is marketing the property for sale by deadline private treaty with colleagues Beterly Pan, Mark Preston and Alistair Hitchcock, closing at 4pm, Thursday October
26, unless sold prior.
The property comprises three lettable areas totalling 1790sq m with offices, warehousing and 25 carparks in the Business–Heavy Industrial zone, which permits a wide range of uses.
Pan says an original warehouse established around 1970 remains essentially unchanged, while around
2005, the front office section of the premises was demolished, giving way to the construction of a new two-level building.
“The offices have a distinctly modern and contemporary feel with an open-plan layout. Warehousing is built right up to the boundary of three sides, ensuring maximum utilisation in its current form, with access through motorised roller doors on either side of the property.
“There is potential to amalgamate both warehouses into one larger space.”
Preston says Intelligent Environments occupies 262sq m of ground-floor office area, returning rental income of $68,906 plus GST and outgoings in a lease expiring in August 2025.
“This presents the new owner with options to expand current business interests into the to-be vacant space or to undertake a new lease with the current tenant – all of which is added income security.”