A large multi-tenanted industrial property in the rapidly growing South Auckland precinct of Papakura is being offered to the market. It will appeal to investors seeking an asset with a steady rental stream.
Situated at 64 Hunua Road, Papakura, the property comprises approximately 5,496sq m of net lettable area across multiple units on a substantial 9,091sq m freehold site.
The property is fully leased to an established tenancy mix of industrial firms including Total Coatings Limited, GFL Benchtops Limited, Elite Kitchens and Cabinets Limited, and Willow Lane Events.
The total net rental income is $896,840 plus GST per annum.
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The split-risk income stream is supported by a weighted average lease term of 6.5 years as of April, providing strong income security and built-in tenant retention.
The tenancies range in size from 819sq m to 1,830sq m.
Comprising a combination of original industrial buildings and more recently developed facilities, the asset offers a functional mix of medium to high stud warehousing, office accommodation, canopies, and yard areas.
Warehouse stud heights reach approximately 10m and are complemented by multiple roller doors.
Over 90 per cent of the property's roofing has been replaced or renewed within the past three years, with Unit F's roof being approximately 13 years old.
With dual access via Hunua and Croskery Roads, providing convenience for tenants and clients, the site is well positioned to benefit from nearby infrastructure investment, major roading upgrades, and the continued southward expansion of Auckland s population.
The property is zoned Business-Heavy Industry Zone under the Auckland Unitary Plan, allowing for a broad range of intensive industrial activities.
Colliers Brokers Greg Watson and Joshua Franklin have been jointly appointed alongside Lewis Watson of CBRE to market the property for sale via negotiation.
Watson, Associate Director of Industrial at Colliers, says the combination of cashflow and attractive lease terms for the existing tenants will draw the attention of investors.
"This is a well-established industrial asset underpinned by multiple tenancies, strong lease structures that provide multiple mechanisms for built-in rental growth, and long-term occupier demand in a rapidly evolving industrial location," Watson says.
"The property offers a passive income stream alongside the benefit of Heavy Industry zoning and proximity to major infrastructure projects reshaping South Auckland."
Situated within New Zealand's Golden Triangle between Auckland, Hamilton, and Tauranga, the property is well positioned to benefit from significant population growth and major roading upgrades planned throughout the wider Drury and Papakura precincts.
Franklin, Director of Industrial at Colliers, says the key surrounding infrastructure projects include the Mill Road corridor, the Drury-Ōpaheke transport network, and the State Highway 1 Papakura to Drury upgrade, all of which are expected to strengthen connectivity and enhance the long-term appeal of the location.
"Nearby Drury is an area undergoing significant expansion with industrial and residential developments quickly taking shape, while the location has been identified as the site of the next Costco facility to be developed in Auckland."
Lewis Watson, Director of Industrial & Logistics at CBRE, says the scale of investment occurring throughout the southern corridor is creating a compelling long-term outlook for industrial property in the area.
"Papakura and Drury are undergoing significant transformation, and industrial assets located within these high-growth precincts are increasingly sought-after," Watson says.
"With excellent access to key transport routes, a diversified tenancy profile, and exposure to substantial population and infrastructure growth, 64 Hunua Road represents a compelling investment opportunity."
- Supplied by Colliers
