Mangere bottom draw investment property

The industrial facility for sale at 49 Mahunga Dr is indicated by a blue border. Photo / Supplied

Agents say a warehouse property, at 49 Mahunga Dr, Mangere, is a "solid bottom-drawer investment property".

The 1806sq m industrial facility is on a five-year lease to established automotive tenant Otbury, earning $249,050 plus GST in net annual rent. Backed by a 12-month bank bond, this provides locked-in rent increases of 2.5 per cent per annum.

Low site coverage of 32 per cent provides scope for future redevelopment of the 5564sq m freehold site, less than 1km from SH20.

Colliers Industrial's Brad Johnston and Paul Jarvie are marketing the property for sale by deadline private treaty, with offers closing 4pm on April 10, unless sold earlier.

Johnston says it suits investors seeking a versatile industrial investment property with guaranteed growth.

"It occupies a large freehold site on Mahunga Dr, putting it within a 13km radius of the CBD, Auckland International Airport and the Wiri Inland Port.

"The building itself comprises a clear-span warehouse, with associated offices and amenities and an additional standalone dangerous goods store. Versatile layout and low site coverage make it ideal for future expansion or redevelopment."

It is set back from the road, with access via a right of way; its 946sq m main warehouse accessed via two roller doors. It is clear span with a medium-stud rising from 5.7m at the knee to 6.95m at the apex. A 752sq m office and amenity area is on a single level to the rear of the warehouse. It comprises a mixture of open plan offices and partitioned space.

Bathrooms with showers are provided, as well as a kitchenette with an outside courtyard. A 108sq m low stud dangerous goods store is located towards the northeastern corner of the property.

The sealed yard is mostly asphalt or concrete, which provides ample car parking, storage and circulation areas. The site benefits from electrified security fencing and entry gates.

Light Industry zoning allows for a wide range of industrial activities including manufacturing, production, logistics, storage, transport and distribution activities.

Jarvie says the property is well sited within increasingly popular Mangere.

"With the completion of the Waterview Connection, the property benefits from even greater access to the wider Auckland area, with a direct route to West Auckland and an alternative bypass route to the North Shore. Major road infrastructure completions in the area in recent years have already resulted in the precinct becoming a prime location for industrial users. Many recognised brands have chosen this area as their desired business location; Progressive, Toll, Steel & Tube, and NCI Packaging are all nearby."

Tenant Otbury Refinish Solutions is a New Zealand-owned business supplying automotive refinish products. It stocks top-quality products, acting as a "one-stop shop" for refinish businesses.