A portfolio of commercial properties in East Tāmaki, Auckland, anchored by the broadcast studios and offices of Whakaata Māori TV and a large vacant industrial warehouse, is on the market via CBRE.
Associate director of capital markets at CBRE Brad Ross, along with colleagues from CBRE’s capital markets and industrial and logistics teams, is marketing the properties at 433, 441 and 439 East Tamaki Road by deadline private treaty closing on July 9 2026.
“These properties can be purchased individually or as a portfolio, offering a range of opportunities for passive investors, add-value buyers and owner occupiers.
"The popularity of the East Tāmaki industrial precinct makes these assets highly attractive, as there is consistently high demand for quality property in this tightly held area,” Ross said.
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The fully leased Whakaata Māori offices and studios at 433 and 441 East Tamaki Road present a passive investment with quasi-infrastructure characteristics.
The facilities are fully occupied by Whakaata Māori, New Zealand’s national Māori broadcaster, on a 15-year lease, generating current annual net income of $1,144,886.
The current lease term has two further rights of renewal, extending the potential tenure to 2043.
The asset offers virtually unmatched income security, said CBRE executive chairman Brent McGregor.
“Whakaata Māori is a statutory corporation established under legislation, with approximately 95 per cent of its revenue sourced from the Crown. The combination of legislative establishment and significant Crown funding support underpins an exceptionally strong tenant covenant.”
The lease is subject to CPI-indexed rent reviews every two years, with the next review due in November 2026.
A minimum increase of 4.61% is already confirmed based on CPI data accrued to date, with two further quarters of inflation still to be recorded before the review date, said Ross.
“Given the current inflationary environment, the rent could increase by around 7% at the November review. That is a substantial near-term income uplift reward for a buyer who acquires the asset now.”
Whakaata Māori is firmly entrenched at the premises, having invested significant capital into a specialist fit-out and state of the art production studio. Its current rental has also been assessed at around 47% below the economic cost of a new suburban warehouse and office development, creating a substantial barrier to relocation.
“If Whakaata Māori were to look at brand new premises, their rent could potentially double.
"The East Tāmaki building is highly fit for purpose and the organisation has invested significantly to ensure its facilities are future-proofed and ideally suited for long term occupation,” McGregor said.
The vacant warehouse at 439 East Tamaki Road is a standout opportunity for owner occupiers and value-add investors, said Lewis Watson, CBRE industrial & logistics director.
“This substantial property includes a large warehouse with quality offices on just over two hectares of freehold land.
"It’s ideal for owner occupiers and also offers strong potential for value-add investors, with a range of repositioning and development options that could meaningfully lift the rental profile and capital value.”
Those options include refurbishing the existing space for single or multiple tenants, partially or fully demolishing the offices to expand the warehouse footprint, adding roller door access for drive-through trucking, or reconfiguring the car parking to increase income.
The 12,727sq m facility includes a high stud warehouse 10,412 sq m in size and 2,315sq m of offices over two levels.
The warehouse has recently-installed LED lighting and a sealed yard provides ample space for truck movements, container storage and parking.
The property also has significant frontage to Te Irirangi Drive, one of South Auckland’s main arterial routes connecting Botany Town Centre to Manukau, providing excellent brand visibility for an incoming occupier.
The third property, a 5,700sqm parcel of land previously used as a car park, is also available for separate purchase, offering a land-bank or development opportunity.
The assets sit in Auckland’s largest industrial precinct, where demand from owner occupiers and investors remains strong and available stock is in short supply, Ross said.
“East Tāmaki is the most sought-after industrial precinct in Auckland and there is a genuine shortage of quality stock, particularly for owner occupiers looking to secure space at scale.
"The precinct has excellent connectivity to SH1 and SH20, making it well-suited to businesses that need to service customers across the city and beyond.”
- Supplied by CBRE
