A warehouse and office building in the tightly held city fringe suburb of Kingsland in Auckland is available for purchase, giving buyers the opportunity to acquire a property with strong underlying land value.
Sitting high on the ridge at 48 George Street, Kingsland, the two-level building has approximately 700sq m of floor area on a 1,034sq m freehold site.
The property, which is available with vacant possession and has an A-grade seismic rating, comprises a 270sq m warehouse with supporting office and showroom space as well as 12 on-site car parks.
The building has just been repainted and benefits from solar panels on the roof to help with power generation, while all the windows and window joinery have been upgraded.
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Strategically located just off New North Road, the building occupies a prime position with convenient access to the Auckland CBD and key arterial routes, including Dominion Road.
Kingsland offers exceptional transport connectivity with the local train station only minutes away and the motorway network nearby. The suburb also has a busy local shopping village that features a broad collection of appealing hospitality offerings.
The property is zoned Business – Mixed Use Zone under the Auckland Unitary Plan.
Colliers Brokers John Davies and Nikko Boxall have been exclusively appointed to market the property for sale via auction to be held at Colliers, Level 23, HSBC Tower, 188 Quay Street, at 11am on Tuesday 18 August.
The building has a versatile layout and provides functional, well-maintained accommodation with good natural light, medium stud warehouse space (5.5m height) with a cart dock, and practical office areas that can be occupied immediately or enhanced over time.
The existing warehouse space could be extended with the repositioning of some of the ground floor office area.
Davies, Investment Sales Broker at Colliers, says the property’s adaptable configuration will allow the new owner to tailor the space to suit warehouse, office, showroom, or mixed-use requirements.
“This asset will attract a wide array of buyers given the different ways it can be utilised.
"Owner-occupiers seeking their own space to trade from will have the chance to secure their own premises without the constraints of a lease,” Davies says.
“Meanwhile, investors could acquire the building and look to lease it and potentially establish a split-risk income stream via multiple occupants.
"We expect there would be strong demand among prospective tenants given the lack of vacant warehouse space in Kingsland.
“The generous on-site car parking further enhances its practicality and given the property can be purchased with vacant possession, the new owner can enact their plans quickly.”
The surrounding area features a diverse mix of commercial, industrial, and residential properties, with warehouses, offices, trade services, and retail all contributing to the precinct’s strong appeal.
Boxall, Investment Sales Broker at Colliers, says Kingsland is a suburb that continues to attract significant investment through increased demand for well-located, mixed-use property.
“Assets in Kingsland remain keenly sought among buyers and are rarely traded. The subject property allows buyers the chance to acquire a stake in one of Auckland’s most tightly held commercial markets,” Boxall says.
“Buyers with a long-term view may also consider the future growth potential of the asset as it could be redeveloped to intensify the usage of the site and unlock its true value.
"Business – Mixed Use zoning is considered favourable by investors given the flexibility it affords.”
- Supplied by Colliers
