Andromeda stars in East Ta¯maki
Extremely low levels of vacancy for industrial property in the East T¯amaki area, limited inventory for sale and escalating demand from owner-occupiers has driven high inquiry on a modest, functional industrial unit close to the Highbrook motorway interchange.
Located in a cul-de-sac running off main thoroughfare Kerwyn Ave and 2km from the Highbrook Business Park, the roadfront, unit-titled property at 7 Andromeda Crescent is for sale for the first time in 19 years.
Its passive investor owner is opting to sell as the unit has become vacant after a long period of occupation.
The 215sq m clear-span warehouse is accessed via two roller doors and has a compact and tidy 48.5sq m office and amenity block over two levels. Six dedicated parking spaces are associated with this unit.
It is being marketed by deadline private treaty closing March 13 through Tim Bull and Tim Koning of Bayleys South Auckland.
Bull said the entry-level property is zoned Business—Light Industry and given its generous warehouse, low office ratio, and vacant possession, it’s attracting attention from owner-occupiers who are active in the market currently.
“I think the quest to be self-sufficient and not be at the whim of a landlord and rental market pressures is driving this.
“There are some great businesses out there with sound fundamentals and the banks are looking favourably on them as owning the roof over your business’s head is a prime motivator to keep up the momentum.
“East T¯amaki is an optimal location for industrial occupiers because of the connectivity advantages. Continuing on from last year, there’s still very limited stock available for sale or lease in the general area.”
Roller door access, good parking and the quiet cul-de-sac location amps up the appeal for an owner-occupier who does not necessarily require high-profile premises, with the property lending itself to a range of storage, distribution, trade and manufacturing businesses.
With a sound leasing history and minimal vacancy in the precinct, the property could also appeal to investors prepared to canvas for a tenant and take advantage of the tight market conditions to secure sound rental income.
Koning said East T¯amaki is widely regarded as one of Auckland’s premier industrial locations with a large business community and the pivotal Highbrook Business Park underpinning the popularity of the broader precinct.
“The area is an industrial powerhouse with significant investment made by prominent developers and a wide range of national and international occupiers including storage, distribution, light and heavy manufacturing businesses, supported by a mix of commercial and office users, choosing to base themselves here.
“With access to State Highway 1 via the Highbrook interchange just minutes away, and the growth of nearby catchments like Botany, Ormiston and Howick providing an ample labour force, East T¯amaki is a futureproofed location.”
Nearby developments such as Botany, Ormiston and Flat Bush have created major growth opportunities for East T¯amaki, which houses over 2000 businesses and over 40,000 employees.