A block of industrial units in a high-profile position in the West Auckland suburb of New Lynn is being presented to the market for sale for the first time in more than 40 years.
The four units are located on a single freehold title at 32 Clark Street and have a total floor area of approximately 465sq m with 40sq m of porch area.
Two longstanding tenants currently occupy all four units, providing $64,075 plus GST in net annual rental income.
The leases operate on a three-monthly rolling term, adding flexibility for the new owner. The individual units range in size from 95sq m to 178sq m.
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With exposure to a considerable volume of passing traffic on a main arterial route, the property is surrounded by big-name brands and amenities.
The property, which has 12 dedicated on-site car parks, is zoned Business – Light Industry Zone under the Auckland Unitary Plan. The landholding measures 990sq m.
Colliers Directors Matt Prentice, Shoneet Chand, and Luke McGill have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Tuesday 29 September, unless sold prior.
Prentice, Director of Industrial Sales and Leasing at Colliers, says the property will appeal to a broad buyer pool including developers, owner-occupiers, and investors.
“This property is available for purchase for the first time since it was constructed in 1982. The longtime owner of the asset is highly motivated and keen to consider all offers,” Prentice says.
“Buyers seeking a highly visible asset in a busy and established commercial precinct have the chance to secure a property with significant value-add potential.”
Chand, Director of Investment Sales at Colliers, says with holding income in place from the existing tenancies, the new owner can strategically plan their future moves for the property.
“There is scope for the buyer to change the leasing structure to drive further value from the asset, while the incoming owner may choose to utilise the property for their own purposes. It provides a level of functionality that makes it suitable for a range of uses,” Chand says.
“As outlined in the Unitary Plan, the Light Industry zoning allows for manufacturing, production, logistics, storage, transport, and distribution activities.”
New Lynn is approximately 10km from Auckland CBD and benefits from public transport connectivity with multiple bus routes and a local train station.
The suburb also continues to experience ongoing population growth, driving a continued need for commercial services.
McGill, Director of Industrial at Colliers, says the subject location is populated by well-known national brands that draw people to the area.
“The neighbouring building is occupied by an Animates pet store and a large-scale Mitre 10 is over the road, while a PlaceMakers is also nearby.
"LynnMall is only a few minutes away and has an extensive array of retail and hospitality amenities,” McGill says.
“This is an asset that will catch the eye of buyers seeking an add-value opportunity in a prominent location.”
- Supplied by Colliers
