Passive income, potential near airport
A large-scale landholding in the popular industrial hub near Auckland Airport is for sale and offers prospective purchasers a steady rental stream and long-term development opportunities.
61 and 65 Kirkbride Rd, Māngere, spans 22,009sq m across two freehold titles zoned Business–Light Industry under the Auckland Unitary Plan. The contiguous sites will be sold as a combined offering.
The level and regular-shaped yard is tenanted by Veer Enterprise Ltd which began a 10-yea rle ase in January 2022 with no further rights of renewal leading to a final expiry of 31 December 2031.
The lease agreement provides $640,000 plus GST in net annual rental income. There are also fixed 3 per cent annual rental increases, which will apply from 1 January 2027.
The property is only 4.6km from Auckland Airport and less than 2km from the motorway network.
Boasting 50m of road frontage, this highly visible site enjoys significant street exposure in a keenly sought industrial area that is home to a number of high-profile occupiers.
Colliers directors Paul Jarvie and Brad Johnston a remarketing the property via deadline private treaty closing 4pm, Wednesday April 10, unless sold prior.
Jarvie says the prominently positioned, serviced site is equipped with essential utilities and infrastructure to support industrial operations.
The yard’ s metalled surface serves as an optimal foundation for container storage, providing durability and stability necessary for industrial activities.
“The Business–Light Industry Zone allows for industrial activities that don’t generate objectionable odour, dust, or noise,” Jarvie says.
“This combination of flexible zoning attached to a sizeable landholding means this yard is suitable for a variety of industrial uses, making this the perfect ‘set and forget’ for eight years until you develop.
“The lengthy lease in place with built-in rental growth means the new owner can create a strategic plan for their future moves without any major time pressures.”
The supply of industria ll and in Auckland remains constrained and the overall vacancy rate for floorspace across the wider city is only 1.8 per cent according to detailed research from Colliers. The Airport Corridor/Māngere precinct is particularly popular with the vacancy rate for prime space marked at only 0.2 per cent.
Johnston says well-known operators are well established near Auckland Airport because of its accessibility to key transport routes. “This property offers buyers the combination of being able to purchase a site with strong holding income before potentially creating a major development of their own.”