A significant landholding that is primed for redevelopment in the sought-after industrial stronghold of Onehunga, Auckland is being offered to the market for sale.
Located at 269, 273, and 273A Church Street and 19 Patrick Street, Onehunga the property spans 32,387sq m and with low site coverage of only 22 per cent across the entire landholding, there is considerable scope to reposition the usage of this site.
Dual access through Church and Patrick Streets supports efficient traffic flow and will be beneficial for any future construction.
Short-term occupancy of the main title provides holding income until March of next year, providing flexibility for the new owner as they strategically plan their next steps.
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The property is zoned Business – Light Industry Zone under the Auckland Unitary Plan. This designation is designed to enable businesses to concentrate on generating economic activity for the city and supports light manufacturing, production, logistics, storage, transport, and distribution activities.
Colliers Directors Hamish West, Brad Johnston, and Greg Goldfinch have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Wednesday 20 August, unless sold prior.
The main property was originally constructed in the late 1980s as a specialised Watercare service depot.
Most of the original office improvements have since been demolished, leaving a large functional yard area, except for a two-storey office block and a workshop building along the rear boundary.
The main workshop is an elongated, sprinklered building that offers clear span space with a stud height of 8m at the knee, rising to 9.6m at the apex.
Gantry rails run the full length, supporting two 2-tonne and one 8-tonne SWL gantry cranes. Access is provided through several full-height openings on the northern side, which have canopy protection.
The balance of the site includes asphalt-sealed parking and a heavy-duty concrete-sealed open yard. Additionally, a weighbridge platform and queuing lanes sit along the northern side of the office structure.
West, Director of Industrial at Colliers, says sites of this size are seldom found and the subject property is one of the most impressive blank canvas development opportunities that will be presented to the open market this year.
“The scale of the property means buyers of all kinds will have the chance to create a significant development and there will be appeal for owner-occupiers to acquire the site for their future operations, while developers may choose to create a large-scale development that will capitalise on the demand for industrial floorspace in Onehunga,” West says.
“Given the site’s flat nature, convenient dual access, and premier location this is an opportunity that warrants serious consideration.”
According to the latest research from Colliers, industrial vacancy rates remain near historical lows with the overall vacancy figure for Auckland sitting at 2.2 per cent. This drops to 1.5 per cent for prime space in the Penrose/Onehunga hub where the site is located.
Johnston, Director of Industrial at Colliers, says the low vacancy rate for Onehunga points to the ongoing demand for space in this popular location.
“Onehunga’s appeal can be attributed to its ease of access to the motorway network, relatively short distance from the CBD, and proximity to Auckland Airport,” Johnston says.
“This convenience enables movement around Auckland and further afield and makes Onehunga one of the city’s premier industrial precincts that is populated by a collection of national and international firms.”
Goldfinch, National Director of Industrial at Colliers, says this property has all of the key attributes sought by buyers looking for a premium development opportunity.
“This is a significant landholding in a prime location that is underpinned by flexible zoning meaning there is a broad array of uses the property could be positioned for in the future,” Goldfinch says.
- Supplied by Colliers
