The land and buildings of three large, high-profile sites in some of South Auckland’s most sought-after industrial locations are being presented to the market offering prospective purchasers the opportunity to acquire a collection of high-quality assets individually or collectively.
818 Great South Road, Penrose, 62 Allens Road, East Tamaki, and 146-158 Cavendish Drive in Wiri are all currently being used as car dealerships by MotorCo.
They can be purchased separately or as a combined offering with a short-term leaseback in place, while the trade business is also for sale.
Two of the properties – 818 Great South Road and 62 Allens Road – are zoned Business – Heavy Industry Zone, while 146-158 Cavendish Drive is zoned Business – Light Industry Zone.
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All three properties enjoy exceptional exposure and street frontage in their respective locations that are experiencing huge demand for industrial land.
Colliers directors Hamish West and Paul Higgins have been exclusively appointed to market the properties for sale by deadline private treaty closing at 4pm on Friday 5 November, unless sold prior.
818 Great South Road in Penrose is a strategically located 4330sq m freehold corner site with a net lettable area of approximately 2335sq m comprising a large warehouse, showroom, multiple offices, canopy, amenities, and car parks.
The building offers functional stud height, an excellent ratio of office to warehouse space, three roller doors, and a secure yard area for containers.
Penrose is a key logistics and manufacturing location in one of Auckland’s most established and central suburbs that offers exceptional connectivity to Auckland Airport or the CBD.
62 Allens Road in East Tamaki offers a fully fenced 7550sq m site with a highly functional office and warehouse that provides 2796sq m of floor area that is accessible via multiple roller doors.
With only 40 per cent site coverage, this freehold property offers exciting potential for expansion and has 115m of road frontage and exposure to East Tamaki’s main arterial route, while the SH1 Highbrook on-ramps are less than 3.5km away.
146-158 Cavendish Drive in Wiri is a property that is made up of three adjoining industrial sites on two freehold titles and one unit title combining for a total landholding of 2536sq m with approximately 1132sq m of net lettable floor space.
146 Cavendish drive is a 1650sq m secure, metalled yard with significant street frontage and a prominent corner position.
154 Cavendish Drive is a spacious industrial clear-span warehouse that was constructed in the 2000s and has recently been refurbished.
Adjoining the 154 Cavendish Drive warehouse is 2/158 Cavendish Drive. This warehouse sits on a unit title and is unit one of a two-unit development. Improvements include a clear-span warehouse building with associated offices and amenities split over two levels.
Originally constructed in the 1980s, this building is accessible both at the front and rear, while there is also internal roller door access between the 154 and 2/158 warehouses.
West, director of industrial at Colliers, says it is incredibly rare to see so many premier buildings in prime industrial locations being brought to the market in a joint offering.
“These high-profile sites will appeal to owner-occupiers or investors given the buildings could be configured for a variety of uses,” West says.
“These properties are located in some of the most tightly held industrial locations in South Auckland and we expect there will be significant interest.”
Higgins, director of industrial at Colliers, says due to the scarcity of land in South Auckland, demand can rarely be satisfied.
“Industrial buildings of this scale do not come up for lease or sale very often, and when they come on the market they are in high demand from tenants and occupiers,” Higgins says.
“The shortage of land and high construction costs has seen an overwhelming shortage of similar properties in the marketplace, creating a scenario for landlords where they often have the choice of multiple tenants if they come on the market for lease.”
- Article supplied by Colliers
