Rare bare land site in Albany

The site at 11 Triton Dr is the last piece of bare developable land in the North Shore's Interplex Business Park. Photo / Supplied

Agents say the last piece of bare developable land in the North Shore's InterplexBusiness Park is now for sale.

CBRE's Deborah Dowling and Brett Whalley are marketing 11 Triton Dr, by way of deadline private treaty, closing 12pm on March 21 — unless it sells earlier.

Dowling says the vendors have decided to divest themselves of the 4189sq m freehold property and move on to other projects.

"This property offers an investor, developer or owner-occupier the opportunity to purchase the last site with a General-Business zoning in a location close to the new bus park-and-ride station and motorway access," Dowling says.

"At a time when commercial land is so scare and when Albany is receiving unprecedented interest, I think we've saved the best till last."

She says the almost square site sits slightly above road level and is relatively flat with an easy rise towards the rear boundary. This would give any future building prominence and a strong profile over the street and surrounding buildings.

Whalley adds that the 60m frontage along Triton Dr would also allow flexible and safe access points for vehicle entry, plus excellent profile for the business, or businesses there.

"Neighbours here include Landmark Homes, HRV, Budget Car and Truck Rental, Rylock Windows and Doors, and New Zealand Pure Dairy Products Ltd," Whalley says. "For scores of folk at these companies, seeing such a valuable land left vacant for so long, has been the source of intense curiosity."

Dowling says the zoning enables activities, from light industrial to offices; or large format retail of greater than 450sq m gross floor area per tenancy.

The site would suite drive-through restaurants, trade suppliers, marine and motor vehicle sales and entertainment facilities, marae or church groups.

"Under this zoning, buildings may be constructed up to a height of 16.5m, subject to boundary setback and variation controls. Side and rear yards are not required."

However, residential activity would not be allowed due to the presence of light industry, plus Council's preference for appropriate commercial use in the area.

Whalley notes the largest decreases in vacant space across Auckland over the last quarter of 2018, were in New Lynn (4500sq m); followed by Albany (3400sq m).

"So 11 Triton Dr would provide a purchaser with an opportunity to build their perfect business premises, or develop for on-sale."

CBRE's latest research shows that overall Auckland industrial vacancy stands at 1.1 per cent in an environment of healthy demand. Grade A vacant stock sits at 51,700sq m, or 1.0 per cent across Auckland.

This should be viewed in the context of 139,000sq m of newly-completed Grade A developments, 124,700sq m of which was occupied at completion. And, of the 33 new buildings completed in the quarter, only three remained vacant at completion.