In one of the biggest industrial property transactions of the year, a 4.48ha freehold site with 29,526sq m of buildings at 100 Carbine Rd, Mt Wellington, has sold for $36.8 million.
The property was sold with vacant possession by Augusta Value-Add Fund No.1 Limited after marketing and working with the purchaser by Bayleys Real Estate senior brokers Mike Houlker, Sunil Bhana and James Valintine; along with James Hill and Bayleys' national industrial director Scott Campbell.
The new owner-occupier will move into the premises in March following the departure of Bunnings Warehouse, which is relocating its Auckland distribution centre to another property.
Hill says 100 Carbine Rd is one of the largest industrial holdings in the popular Mt Wellington industrial precinct with access points off both Carbine Rd and Bowden Rd and an exit also onto Gabador Place.
It comprises an original office and warehouse complex dating back to the 1970s with a stud height ranging from 7m at the knee to 10m at the apex; a separate two-level air-conditioned office building; and a large staff cafeteria at the front.