A multi-use industrial property at 56 Lunn Avenue, Mt Wellington, is for sale via CBRE, with upcoming vacant possession offering buyers a compelling foothold opportunity in a sought-after commercial precinct.
Nick Tyler, industrial and logistics specialist at CBRE and Brad Ross, associate director of capital markets at CBRE, are marketing the property for sale by tender closing at 4pm on Thursday 13 August.
Larger-scale properties on Lunn Avenue rarely come to market, with only one asset valued above $5 million changing hands in the precinct in the past six years, Tyler said.
“Lunn Avenue is exceptionally tightly held and vacancy across the precinct is consistently low. That scarcity makes this property a compelling opportunity for owner occupiers and investors, who seldom get the chance to secure property of this scale in the area.”
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Ross said strong retail expansion in the area creates a value-add opportunity for the incoming owner.
“With vacant possession due in March 2027, buyers have the ability to reposition this asset from traditional industrial use to more customer-facing activities.
"The building could be redeveloped, including potentially incorporating glazing to create a street-fronting showroom, and leased to retail or trade users.”
The warehouse at the rear makes the property ideal for occupiers who want a showroom presence supported by storage and distribution space behind it, he added.
The 1,908sq m building includes a 1,014sq m clear-span warehouse with a high stud and three roller doors.
Intermittent translucent panels fill the space with natural light and the concrete floor is well suited to racking and forklift operations.
A secure 315sq m sealed yard at the rear provides container-drop capability and room for heavy vehicles to manoeuvre (a rare attribute in this location) while the 3,237sq m freehold site also includes 23 car parks.
“The mix of warehouse, storage, office and yard space suits a broad range of occupiers which could include trade, logistics and service industries," Tyler said.
"There is also potential to open up the low-stud storage area, unlocking further space for a retail-warehouse fitout or similar use."
The current tenancy provides holding income of $438,600 a year net until the end of February.
This gives the new owner an income stream while they plan refurbishment and re-leasing; or for an owner-occupier, prepare for their own occupation of the property.
Ross said the fundamentals of the property and its location are hard to replicate.
“This asset offers a prominent position in a central commercial precinct, adaptable space and an affluent catchment on the doorstep.
"Whether buyers want to occupy, reposition or re-lease the property, opportunities like this are hard to come by on Lunn Ave.”
Lunn Avenue has transformed from its industrial quarry origins into one of Auckland’s foremost mixed-use commercial locations.
The precinct is home to Farro Fresh, Mitre 10 Mega and New World, and is next to the Stonefields subdivision.
Lunn Ave property also offers occupiers outstanding brand visibility and transport connectivity.
The property is around 10km southeast of the Auckland CBD, with direct access to the Southern Motorway via the Mt Wellington interchange. The Sylvia Park shopping and business precinct and train station are adjacent, and off-peak drive times are around 20 minutes to the CBD and 25 minutes to Auckland Airport.
- Supplied by CBRE
