A versatile split-risk industrial asset in one of Auckland’smost sought-after logistics precincts is heading to auction, giving privatebuyers the opportunity to secure a functional dual-tenancy property supportedby strong fundamentals and clear rental upside.
Located at 10 Rennie Drive in Māngere’s Airport Oaksprecinct, the property has a total floor area of circa-997sqm and sits on a1,656sqm freehold site with Business Light Industry zoning and excellenttransport connectivity.
The property is configured into two separate industrialtenancies, providing diversified net income of more than $200,000 plus GST perannum, and having broad appeal to both investors and future occupiers.
Chillex Group Limited, a well-established operatorspecialising in heating, ventilation and air-conditioning services, occupiesthe larger tenancy, generating annual income of $138,730 plus GST. The secondtenancy, comprising approximately 246sqm of warehouse and 171sqm of office, isoccupied by Turin Panel and Paint Limited, returning $68,000 plus GST andoffering clear rental uplift potential through future refurbishment orreconfiguration. Both leases have rights of renewal.
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The building offers practical improvements suited to a widerange of industrial users, including clear-span warehousing, officeaccommodation over two levels, container storage capability and a total oftwenty on-site car parks.
The split-risk nature of the income, combined with thesite’s scale and zoning, positions the property as a resilient long-termholding in a market where vacancy remains low, rental growth has beensustained, and infrastructure investment continues to support occupier demand.
The property will be auctioned on Wednesday 29 July 2026,unless sold prior, through Ash Martinus, Greg Hall and James Valintine ofBayleys South Auckland.
Demand for industrial stock of this scale remains active,with high enquiry levels from investors and occupiers continuing to compete forlimited options in the Airport Corridor, says Martinus.
“The leasing market is very tight for properties of thissize, and occupiers are moving quickly when functional buildings with goodaccess become available, so that’s encouraging for investors.
“The Airport Oaks precinct is one of the most desirableindustrial locations in Auckland and continues to outperform many other hubsdue to its connectivity and concentration of major freight and logisticsoperators.
“Ongoing roading upgrades have strengthened its connectionto other core industrial precincts such as Wiri, Penrose, Onehunga and MtWellington. Industrial occupiers value the ability to service bothairport-related operations and wider Auckland distribution networks from asingle location.”
The site connects directly into the award-winning TheLanding precinct at Auckland Airport, positioning it within a high-growthindustrial hub driven by strong demand from logistics, freight and serviceoperators. Surrounding development is predominantly medium to large-formatindustrial, underscoring the precinct’s role in supporting airport activity andbusinesses reliant on rapid motorway access.
Minutes from State Highway 20 and close toAuckland Airport, with immediate links to key arterial routes, and majorresidential catchments, the property sits at the centre of one of New Zealand’smost strategically important logistics corridors and a substantial surroundingworkforce.
- Supplied by Bayleys
