An exceptional opportunity to acquire a purpose-built residential complex in a fast-growing South Auckland catchment is being offered to the market.
116-118 Browns Road, Manurewa comprises five standalone buildings - each on its own title -providing a total of 75 fully furnished studio units designed specifically to address the demand for affordable, one-bedroom accommodation in the area.
The property is being marketed by Barfoot & Thompson Commercial brokers John Stringer and Ruby Duan, and is offered For Sale by Deadline Private Treaty, closing 2pm, Wednesday 28 May 2025 (unless sold prior).
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“This is a rare, large-scale residential investment in a location with consistent demand and strong fundamentals,” says Stringer. “It’s a hands-off, high-yielding asset, underpinned by a 12-year lease to an established community housing provider.”
Each of the five buildings spans three levels and contains 15 self-contained studios with private ensuites, along with shared kitchens and lounges on every floor and a common laundry per building.
The units are furnished and designed for functional, long-term living. Security features include swipe card access, CCTV and managed entry points.
The property is leased in its entirety to Maranga Fanau Charitable Trust, a recognised housing and social service provider that works closely with the Ministry of Social Development.
Each building returns $327,600 per annum, bringing the total annual income to $1,638,000.
“The 12-year lease term, net structure and reliable tenant make this a compelling offering for yield-focused investors,” adds Duan. “Each title can also be sold individually, making it more flexible than a standard large-scale complex.”
Positioned directly opposite Homai Train Station and adjacent to local amenities, the site spans 2,031m² and is zoned Residential – Terrace Housing and Apartment Buildings (THAB), offering future development flexibility in one of Auckland’s most intensification-friendly zones.
The immediate area includes a mix of residential and industrial activity, with the Wiri industrial precinct just across Browns Road - and local schooling, parks and retail nearby. Access to SH1 and SH20 is straightforward via Hill Road or Lambie Drive, with Manukau City just 3km to the north.
“This part of Auckland continues to experience population growth and housing demand, particularly for affordable and supported living options,” says Stringer. “The asset is well located, future-proofed and built for purpose and the vendor is willing to provide finance for the right parties - all the right ingredients for a smart, long-term hold.”
- Supplied by Barfoot & Thompson
