A highly functional industrial property in East Tāmaki is being presented to the market for sale, offering investors the opportunity to acquire an asset underpinned by long-term income in one of Auckland's premier industrial locations.
Located at 54 Stonedon Drive, the freehold property comprises 1,666sq m of net lettable area on a 2,980sq m site and is leased to Waterware Services Limited, an established New Zealand supplier of plumbing, central heating, cooling, and bathroomware products.
The company has occupied the property since it was purpose-built in 2005, reflecting its long-term commitment to the location.
The asset returns $360,000 plus GST per annum with fixed annual rental growth of 3 per cent and regular market reviews, offering steady cashflow and future rental upside for investors. The lease will be renewed at settlement for an eight-year period, with two rights of renewal of two years each.
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The warehouse component spans approximately 1,354sq m and benefits from stud heights ranging from 7.5m to 9.1m, while a generous fenced yard, canopy-protected roller door access, and low office-to-warehouse ratio support operational efficiency.
The property also benefits from recent site improvements, including upgraded office accommodation and ventilation systems.
The property is zoned Business - Light Industry Zone under the Auckland Unitary Plan.
Colliers Directors Ben Cockram, Josh Franklin, and Paul Higgins have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Wednesday 9 September, unless sold prior.
Cockram, Director of Industrial at Colliers, says the asset combines many attributes that are highly sought-after by industrial investors.
"The property includes a combination of rental income, a long-standing tenant, and strong underlying land value in one of Auckland's most tightly held industrial precincts," Cockram says.
"The tenant has made a significant investment in the premises over the years, demonstrating their commitment to the asset, while the lease provides rental growth that is coveted by buyers."
The offering comes at a time when well-located industrial property continues to attract strong investor interest.
The Colliers Research & Economics team notes that while industrial vacancy across Auckland has increased, vacancy remains lowest in the city's core industrial precincts, where occupiers are seeking convenient access to major transport networks and logistics infrastructure.
Franklin, Director of Industrial at Colliers, says East Tāmaki remains one of Auckland's most desirable industrial locations.
"East Tāmaki has long been regarded as a premier industrial precinct due to its central position, access to State Highway 1, and proximity to Auckland Airport," Franklin says.
"Businesses value the connectivity the area provides, while investors are attracted by the consistent occupier demand. The latest research from Colliers highlights the vacancy rate for prime industrial floorspace in East Tāmaki is only 1 per cent."
The property is approximately 4km from State Highway 1 and 1km from Highbrook Business Park, placing it within close reach of some of Auckland's most significant industrial, logistics, and commercial hubs.
Higgins, Director of Industrial at Colliers, says opportunities of this calibre are becoming increasingly difficult to secure.
"Properties that combine a substantial landholding, quality improvements, and long-term income are keenly sought in East Tāmaki, and this building represents an appealing asset that has enduring investment fundamentals."
- Supplied by Colliers
