Industrial in 'hotly-contested' St Johns

The warehouse and office property for sale (white building at centre) at 4 Farmhouse Lane, St Johns. Photo / Supplied

A freehold industrial property in the tightly-held area between Auckland's affluent eastern suburbs and the growing Sylvia Park commercial precinct is for sale or lease with vacant possession.

Colliers International is marketing 4 Farmhouse Lane, St Johns, for sale with the deadline for offers closing at 4pm on October 16, unless it sells or leases earlier.

Industrial director Hamish West says the property comprises a 1629sq m warehouse and office facility on a 2154sq m freehold title.

"Industrial buildings of this size, with an ideal office-to-warehouse ratio, are sought after, especially in such a hotly-contested commercial property precinct," West says.

"St Johns is among Auckland's highest-growth central city areas due to its closeness to the popular eastern suburbs.

"It is also one of the most tightly-held suburbs due to its limited size; St Johns has almost no vacancy year-round and properties rarely make it to the open market for sale or lease."

The agency's industrial director, Andrew Hooper, says the property has about 1386sq m of warehouse space, about 243sq m of office and amenities and 10 on-site car parks.

"It is suitable for owner-occupiers, investors or developers," Hooper says.

"Investors will see the benefits of buying into a very high-occupancy area. Once leased, the property has the potential to return a market rental of $205,112 per annum.

"Developers will appreciate the property's unencumbered freehold title with Business Mixed Use zoning, providing flexibility around potential future development."

The ground floor has showroom, office and amenity space while the first-floor comprises an open-plan office.

The warehouse has a stud height of about 4m at the knee rising to 5.75m at the apex. The warehouse can be accessed from the front yard via two roller doors.

The remainder of the site consists of sealed yard and a car parking area, as well as parking below the mezzanine offices.

Andrew Hooper, Colliers International

Hamish West, Colliers International