Big Pukekohe CBD industrial property

The large property at 15 Crosbie Rd is approximately indicated by a red border. Photo / Supplied

A substantial 1.1637ha landholding in Pukekohe's central business precinct is for sale providing a significant opportunity for developers and add-value investors.

The property at 15 Crosbie Rd, was developed as an abattoir in 1978. Subsequently the 2588sq m industrial buildings on the site have been used for the processing of a variety of food products.

The land and buildings have now been placed on the market through Bayleys South Auckland agents Shane Snijder and Peter Migounoff. The property is among 15 that will go under the hammer at Bayleys' next Total Property auction from 2pm on April 10, unless sold prior.

Snijder says the Pukekohe property is leased until the end of the year earning rent of $327,331 per annum. However, the current occupants are expecting to vacate the premises by end of June, offering options for the balance of 2019 for the next owner.

The property has a 2210sq m warehousing and registered food processing area; 100sq m of operational chillers; a separated shed plus storage totalling 92sq m and 222 sq m of office space.

Snijder says the Light Industry zoned site has relatively low building coverage and, while the buildings could be upgraded and extended, redevelopment probably seems to be the best way to maximise value.

"There is a real shortage of warehouse premises in Pukekohe at present, particularly units under 500sq m. This site lends itself to a cluster of smaller units which could cater for warehousing needs of the tradespeople now servicing the unprecedented growth at Pukekohe and surrounding areas. It could also be a trade centre, or a home zone centre; showcasing and warehousing products and services for new home owners."

While access to and from the property is from Crosbie Rd, the elevated site has substantial exposure to Svendsen Rd which, like Crosbie Rd, runs off busy arterial Manukau Rd.

A Countdown supermarket is directly opposite, on the other side of Svendsen Rd, while large format retailers Mitre 10 Mega and Harvey Norman are nearby.

Snijder says Business zoned land, particularly of this size and calibre, is also in short supply in Pukekohe.

"Plenty of businesses want to establish in Pukekohe but they are being frustrated by delays in formulation of the town's structure plan, which means no new designated areas for business development."

Migiunoff says Pukekohe is the major service centre for significant residential and commercial development needed to meet anticipated population growth.

Two major residential developments are under way:

• Paerata Rise - next to Wesley College (between Karaka and Pukekohe) which will comprise about 4500 houses; and
• Auranga - off Bremner Rd in Drury West, which is fast-tracking more than 1300 new homes.

Migiunoff says Auckland Council has approved a private plan change that rezones 83ha of future Urban-zoned land primarily for residential use. This brings forward subdivision plans at Auranga by at least four years, to contribute to the supply of an additional 13,000 homes-per-year targeted under the Auckland Plan.