High-exposure North Harbour industrial

The showroom and office property at 31A William Pickering Drive, Rosedale. Photo / Supplied

A versatile industrial property for sale or lease in a high-exposure, low-vacancy North Shore location will likely appeal to a range of tenants, owner-occupiers and investors.

The 755sq m warehouse, showroom and office property at 31A William Pickering Drive, Rosedale, is situated on prominent corner site within Auckland's popular North Harbour Industrial Estate.

Matt Prentice and Janet Marshall of Colliers International's North Shore office are marketing the property for sale or lease by negotiation.

Prentice says it is available with vacant possession from March 1, next year.

"Whether looking to invest or occupy, this is an opportunity to be set up nicely for the New Year.

"The property is superbly located on the high-profile corner of William Pickering Drive and Douglas Alexander Parade.

"With 65m of road frontage, occupiers will benefit from massive exposure to one of the main arterial routes through this sought-after industrial precinct."

The property comprises a 620sq m high stud warehouse, a 78sq m ground floor showroom and office, and a 57sq m office on the first floor.

"The highly functional building has a high warehouse ratio of 82 per cent – a desirable ratio that is keenly sought in today's market."

The freehold unit title includes 14 on-site car parks and an area suitable for container drop and devanning purposes.

Marshall says the property is centrally located within the North Harbour Industrial Estate, which offers excellent connectivity to the rest of the North Shore and the wider Auckland region.

"The property provides excellent access to the Northern Motorway, with nearby interchanges located north at Albany and south at Constellation Drive.

"There is also good access to public transport, with bus stops located directly outside the property for sale or lease.

"Surrounding development comprises warehouse, showroom and office properties of a similar age.

"This is a highly desirable location, which has seen an uptick in tenant demand over recent years."

The latest Colliers International vacancy survey shows demand for industrial property in Auckland remains at a record high.

The overall Auckland regional industrial vacancy rate reached 1.7 per cent in August 2018, the lowest level ever recorded in the 23-year history of the survey.

Warehouse rental growth shows no sign of slowing down at least in the short-term, primarily due to the lack of supply and the sharp reduction in secondary vacancy, limiting tenant options.