With industrial land supply remaining tightly constrained across Auckland, a large-scale property in Rosedale’s industrial precinct that offers vacant possession and additional development land will be highly appealing for buyers looking for a top-quality asset with long-term upside.
15 Ride Way, Albany has 5,027sq m of total net lettable area on a 13,770sq m freehold site that is zoned Business – Light Industry Zone under the Auckland Unitary Plan.
The site is currently used as a distribution centre for NZ Post but with their lease expiring on 2 September, the opportunity has arisen for a new owner to secure this highly functional asset that has a desirable warehouse to office ratio.
With the lease expiring and strong tenancy interest, there is holding income on offer for the buyer as they plot their moves for the property.
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The development land sits at the southern end of the site. It spans more than 3,000sq m and has additional access from the street. The property includes approximately 1,000sq m of yard and 34 dedicated on-site car parks.
With convenient access to the motorway network via Paul Matthews Road, the property is well positioned to service a range of future requirements.
Colliers Directors Matt Prentice, Greg Goldfinch, and Shoneet Chand have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Tuesday 20 June, unless sold prior.
The modern premises includes reinforced concrete slabs and columns with steel portal frame construction. It features a 4,081sq m high stud warehouse with multiple roller doors.
The building includes 449sq m of air-conditioned office space that is split over two levels, full drive-around access that provides convenience for staff and suppliers, and 487sq m of canopy.
Prentice, Director of Industrial Sales and Leasing at Colliers, says discerning investors or owner-occupiers will recognise the significant potential attached to this property.
“Finding a functional industrial premises with a high warehouse ratio that can meet the needs of occupiers has been challenging during the past few years due to stubbornly low vacancy rates across the city,” Prentice says.
“Research from Colliers notes the current vacancy rate for industrial property in Auckland is 1.7 per cent and that figure drops to 0.4 per cent for prime properties such as this one in the wider North Harbour precinct that is starved of quality stock.”
There’s a range of surrounding amenities that complement the established residential developments such as schools, parks, reserves, and the East Coast Bays beaches.
Goldfinch, National Director of Industrial at Colliers, says the development land adds another dimension to this offering that will be highly appealing for buyers.
“This sizeable piece of development land provides options for the future for buyers who may choose to further develop the site or create something separate to the existing structure,” Goldfinch says.
“While it is challenging to find a high-quality industrial premises in key Auckland locations, industrial-zoned land is even more scarce making this one of the most attractive propositions that we will present to the market this year.”
Chand, Director of Investment Sales at Colliers, says the flexibility of the zoning means the new owner will have a blank canvas to work from.
“The Business – Light Industry Zone anticipates industrial activities that do not generate objectionable odour, dust, or noise. This includes manufacturing, production, logistics, storage, transport, and distribution activities,” Chand says.
“Owner-occupiers who covet the freedom of being in control of their own destiny and not being tied to a lease will be drawn to this offering, while investors may choose to purchase the property and lease it out to new tenants.
“This property has many appealing investment fundamentals, and we encourage all interested parties to contact us immediately.”
- Article supplied by Colliers
