The land and buildings of a food storage and distribution centre in Porirua are being offered to the market for sale and the facility is available with vacant possession.
Sitting at 9-11 Matiu Close, Porirua the property has approximately 3,685sq m of total net lettable area on a 10,037sq m freehold site.
The subject location offers excellent connectivity to Wellington city and the wider region via State Highway 1 with easy access to major transport routes. There is also generous space for parking and truck turning.
The property was previously tenanted by a well-known food distributor and a market appraisal from Colliers indicates the potential annual net rental income that could be generated is approximately $869,110 plus GST and operating expenses.
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Colliers Brokers Kieran Lennon, Tim Julian, and Paul Jarvie have been exclusively appointed to market the property for sale via deadline private treaty closing at 2pm on Thursday 8 May, unless sold prior.
The property comprises a purpose-built, temperature-controlled food storage and distribution centre subdivided into an 828sq m dry store, 217sq m cool store, 986sq m cold store, and an environmental loading area. There is also an adjoining two-storey office and amenities block that spans 599sq m and a single-storey plant room.
The stud height is approximately 8m at the portal knee rising to approximately 9.2m at roof apex. Truck access for loading and unloading is via PVC doors with covered canopy space allowing for all-weather activity.
Lennon, Associate Director of Industrial at Colliers Wellington, says large-scale industrial properties such as this one are rarely presented to the open market in the capital.
"Having the opportunity to secure an asset of this size with highly functional space and chiller and cold storage areas available is something that warrants serious consideration among occupiers who have the chance to own their own premises," Lennon says.
"There is also considerable appeal for investors who may wish to acquire the property and find a new tenant and benefit from the steady rental stream that a facility like this would provide.
"Being only 20 minutes from Wellington CBD is another major drawcard, while the Kāpiti Coast is approximately 25 minutes away."
The surrounding area is home to a range of industrial properties, making it an ideal location for warehousing, distribution, manufacturing, and other commercial activities.
With a mix of modern industrial buildings and established facilities, Matiu Close sits within the Elsdon and Kenepuru industrial precinct, a well-established industrial hub.
The location benefits from its proximity to Porirua s commercial and retail precincts, as well as nearby residential areas, making it a highly sought-after location for businesses looking to capitalise on a central and accessible industrial site.
Julian, Associate Director of Industrial at Colliers Wellington, says industrial space remains in short supply across the Wellington region.
"The latest research from Colliers highlights the vacancy rate for industrial floorspace across Wellington is 2.4 per cent with the Porirua precinct having a 2.2 per cent vacancy rate, Julian says.
"This lack of supply has fuelled strong rental growth, which has motivated tenants to purchase their own premises to control forward occupation costs."
Jarvie, Director of Industrial at Colliers, says the property has many aspects that make it a compelling purchasing opportunity such as its tightly held location.
"Being able to secure this property with vacant possession will mean the new owner can move quickly with their future plans," Jarvie says.
- Supplied by Colliers
