A fully leased industrial investment in one of Auckland’s most tightly held precincts is being brought to market, combining holding income with embedded flexibility to extend, reposition or evolve the asset in step with future tenancy requirements or owner occupiers.
Bayleys Metro Markets senior director Layne Harwood, together with colleague Craig Smith, is marketing the freehold property at 14-18 Honan Place, for sale by deadline, closing at 4:00 pm on Thursday, 12th March 2025 (unless sold prior).
The property occupies a strategic position on the Rosebank Peninsula – an inner-west industrial hub prized for its proximity to the CBD, motorway connectivity, and enduring tenant interest.
Zoned Business – Light Industry, the property is anchored by a lease to document management operator G3 Group, returning a net income of $339,586 per annum plus GST and outgoings under a six-year lease from October 2022.
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“While secured by a single tenant covenant, part of the premises is currently subleased, demonstrating the asset’s ability to support multiple occupiers and providing future flexibility in how the space is configured or occupied in time.”
The property comprises two adjoining industrial buildings totalling 2,061sqm, progressively enhanced through staged capital upgrades, including new roofing – most recently circa 2020 - on a 3,143sqm (more or less) site.
The road-facing building has been internally configured to support showroom, office and amenity space, making it well-suited to customer-facing or administrative uses, while the rear premises provide a medium-stud, open warehouse environment delivering flexibility for logistics, storage or light manufacturing.
Bayleys Northwest Industrial Sales director, Craig Smith, says a standout attribute is the site’s operational flexibility.
“With 31 on-site car parks, generous yard space and excellent access for container devanning and vehicle movements, the property is designed to work hard for its occupiers – a decisive advantage in a precinct where operational efficiency drives tenant loyalty.
“With site coverage of approximately 62 per cent, the landholding remains underdeveloped relative to zoning allowances. Subject to design, access and council approval, there is potential to add further building area, creating a clear pathway for long-term value generation through an extension or reconfiguration.
“Equally, there being two distinct structures open options to rebalance or modernise the layout over time, aligning the property with evolving occupier requirements,” Smith says.
The brokers note that industrial property on the Rosebank Peninsula is tightly held, reflecting rarity as one of the closest industrial locations to Auckland’s CBD.
The area benefits from direct access to the Northwestern Motorway and the completed Southern Expansion motorway network, providing fast links to South Auckland, the Airport precinct, the North Shore, and the wider metropolitan area.
“Broader growth across Northwest Auckland – including significant residential development, a new light industrial precinct taking shape in Whenuapai, and the continued expansion of the Westgate commercial node – has reinforced occupier demand for centrally-positioned assets that can service both population and logistics catchments,” they say.
“Investors are looking for certainty, but not at the expense of future flexibility. This property delivers a clean income profile today, with the land, layout and zoning to support active value creation over time.
With strong fundamentals, a proven tenant covenant and clear scope to do more over time, the asset represents a composed industrial investment in a precinct where demand is structural, not cyclical, the brokers add.
- Supplied by Bayleys
