Vacant industrial properties on offer

A 1422sq m industrial building at 59A Mahunga Drive, Mangere, and a 971sq m warehouse on a 3104sq m site at 34 Galway St, Onehunga. Photo / Supplied

Big vacant industrial buildings in Auckland's central industrial precincts are a key feature of Bayleys' latest Greater Auckland portfolio.

Mike Houlker, Bayleys Auckland industrial manager, says the properties, located in Penrose, Mt Wellington, Mangere and Onehunga, offer owner- occupiers, investors and tenants the opportunity to take advantage of very favourable market conditions.

Houlker says the downturn in the business market is still having a flow-on effect on the industrial property market with an increased number of vacant buildings for sale or lease.

"This is good news for businesses that are looking for premises at the moment or are nearing the end of an existing lease and might be considering their options," says Houlker. "We are seeing an increase in owner-occupier activity in the market as a result of attractive prices and low interest rates which means that the cost of borrowing to buy in most cases is below the cost of renting. Some savvy businesses are also covering some of their acquisition funding costs by occupying part of a building themselves and leasing out the balance."

A 3089sq m warehouse and office building on a 4107sq m corner freehold site at 312 Church St, Penrose is one of the Greater Auckland offerings. It is for sale by tender, closing May 6, through Houlker and James Hill of Bayleys Auckland. The property has frontage to Goodman Place as well as Church St, a main thoroughfare from the south eastern arterial through to Penrose and Onehunga. There is good carparking at the front and side of the property.

Hill says the 2409sq m warehouse has good natural light, a stud height of 6m to the portal knee and three roller doors. The 535sq m office and showroom area over three levels has recently been refurbished and is partitioned. On the ground floor is a cafe lunch bar with an outside courtyard. The first floor comprises two separate air-conditioned office tenancies, with a further office level above.

"The property is extremely well located on a prominent corner site with good street frontage providing excellent exposure to large volumes of passing traffic," says Hill. "Access to the wider transportation network is very good, either from Church St onto the southeastern arterial motorway and Southern Motorway, or via Neilson St onto State Highway 20, leading to Auckland International Airport.

"It's an opportunity for either owner-occupiers or investors to purchase a good quality property in a tightly held growth location."

The property is being sold with vacant possession, with short-term annual holding income including $35,000 from the lunch bar and cafe.

For sale or lease is 959sq m high-stud warehousing and modern offices on a 1703sq m freehold corner site at 2 Te Apunga Place, Mt Wellington. It is being marketed by Sunil Bhana, James Hill and Mike Houlker of Bayleys Auckland, with expressions of interest closing on May 18.

The building was constructed in the 1980s and comprises a ground-floor showroom with offices above and high-stud warehousing with two roller doors providing complete drive-through capability.

Bhana says the property is well located on the western side of Te Apunga Place, a cul-de-sac which runs off Hotunui Drive which links with Carbine Rd. "This established industrial precinct is highly sought after due to its proximity to the southeastern arterial and the Southern Motorways. The property has excellent amenities and Sylvia Park Shopping Centre is nearby."

Also for sale or lease by deadline private treaty is a 1422sq m industrial building at 59A Mahunga Drive, Mangere, Auckland. It is being marketed by Scott Kirk and James Were, of Bayleys Auckland, and Peta Laery, Bayleys Manukau. Offers close on Wednesday, May 12.

The building comprises a freestanding modern industrial unit with 1246sq m of high-stud warehousing with access via two large roller doors, and 158sq m of offices and amenities.

"It's a modern and functional industrial property with a good sealed yard and carparking," says Kirk. "It has excellent access to the airport, Manukau, Wiri and Onehunga and signage opportunities from its motorway exposure."

The property is immediately adjacent to State Highway 20 with access in both north- and south-bound directions. This site also benefits from substantial infrastructure improvements under way in the immediate area, including a second Manukau Harbour crossing adjacent to the existing Mangere Bridge.

The bridge improvement is one of a series of roading upgrades in Auckland that will link to form the Western Ring Route which will provide a continuous motorway link around Auckland from Manukau to Greenhithe on Auckland's North Shore. Kirk says these roading improvements will be of major benefit to the site, better linking it to the major north- and south-bound highway system.

There are also two high-profile corner sites in Neilson St, Onehunga, available for purchase or lease in Bayleys Greater Auckland portfolio.

One is located on the corner with Alfred St and comes with over 1ha of land and a large 6169sq m warehouse with modern air-conditioned offices to the front.

A large display yard fronting Neilson St is also at the front of the warehouse. The 7-9 Alfred St site encompasses 5155sq m of freehold land and 5034sq m of leasehold land.

Bayleys Auckland's David Gubb, who is marketing the property with James Hill, says it is in a prime corner position in Neilson St with excellent exposure to Onehunga's busiest road. Neilson St is a major arterial linking the industrial suburbs of Penrose and Mt Wellington with the Southwestern Motorway and the airport.

The other Neilson St property is on the corner with Galway St and encompasses a 3104sq m freehold corner site with a substantial secure rear yard which provides excellent storage for containers or additional carparking. It is also being marketed for sale or lease by Gubb and Hill who says it has plenty of added value potential.

The property at 34 Galway St comprises a 971sq m warehouse built in the 1970s and divided into a number of different shells with excellent access via 10 roller doors. Fronting the road is a 335sq m ground floor showroom with a further 450sq m of office and mezzanine space. Gubb says Onehunga has become a popular location for a wide range of tenants, being close to the airport and Southern Motorway.