Chance to create wealth and good source of income

12:37 PM Saturday August 30, 2014 Colin Taylor

Artist’s impression of consented industrial/commercial development at 365 West Coast Rd, Glen Eden.

A big prime development site with resource consent for the construction of two five-storey industrial and commercial blocks is being marketed for sale in Glen Eden.

The site of 22,800 sq m at 365 West Coast Rd is approved for a total of 52 factory units with mezzanine floors.

This is an excellent West Auckland location and with a lack of commercial property on the market it will be in high demand, says Meir Alfassi, commercial and industrial agent for Harveys Te Atatu Peninsula, who is marketing it for sale by negotiation closing at 5 pm on Tuesday, September 9 unless it sells beforehand.

Alfassi says the resource consent issued for the proposed development, which includes roadway access and a new bridge, was recently been extended to May 2017.

In addition to the 52 substantial units, the consent covers a combination of warehouse, workshop facilities and subsidiary living accommodation.

“The plans provide for excellent roading, car parking and pedestrian walkways,” says Alfassi.

“This is a large elongated site that runs parallel to the railway corridor on the northern boundary. The site slopes relatively gently down from the rail boundary towards the southern boundary where the Waikumete Stream is located. Once the property is cleared it will have substantial exposure to sunlight and will offer two proposed accesses - one off Waikukau Road and the other off West Coast Road.”

The planned development consists of newly constructed two warehouses with roller door access and extra mezzanine floors with toilets, showers and kitchens, on freehold titles and up to three car parks per unit.

True Commercial - 365 West Coast Rd - artist's impression.jpg

Second artist’s impression – different angle - of consented industrial/commercial development at 365 West Coast Rd, Glen Eden.

Unit size start from 140 sqm up to 428 sqm, with construction envisaged as tilt slab concrete and long run iron roof. The units will be high stud 7-8 metre high and will suit a large variety of businesses including builders, metal workers, assemblers, manufacturers, importers, distributors or offices.. They could serve as offices lawyers, draftsmen, accountants or similar professional industries.

“With each unit consented to be ‘freehold’ as opposed to ‘unit title’ they will appeal significantly to interested parties,” says Alfassi.

“The demand for development land is still very strong in West Auckland and particularly for high-density developments such as this – a substantial vacant site with a commercial zoning in the peripheral West Auckland area of Glen Eden.”

The property is on the northern side of the busy main thoroughfare of West Coast Rd and also runs off the northern end of Waikaukau Rd. It backs onto some large, existing industrial factories and yards off West Coast Rd while the second entrance off Waikaukau Road is more readily accessible as this is a wide road running off West Coast Rd.

“It is handily situated to the Glen Eden shopping centre and the Glen Eden Railway Station with other facilities in relatively easy driving distance. Nearby are some residential areas.”

Under the Waitakere section of the new Auckland Council the property is zoned Human Environment - Working. 

“This zone is applied to established industrial sites and areas that are largely industrial in character,” says Alfassi. “It allows a wide range of moderate to low intensity business activities,  some forms of retailing and the development of retail activities to service other business activities.”

He says the development will provide opportunities for a wide range of employment-generating business activity. “Its location, nearby public transport and closeness to housing mean a reduced dependency on private motor vehicles for travel to work.

“There is little new space coming onto the market and, with a high demand from owner-occupiers, this development will make an attractive investment. Very little was built during the past three to four years which created a lull in quality premises for the small to medium businesses. Vacancy rates out West are now at their lowest in the last six years.”

True Commercial - Meir Alfassi Harveys - cropped.jpg

‘With a high demand from owner-occupiers, this development will make an attractive investment’. Meir Alfassi

Alfassi says Glen Eden has attracted large format new retail businesses in recent years. “The upgraded train station also adds value to the area where a large residential work force is available to the many small and medium business that have established themselves here.”  

He says the sale of the property represents a great opportunity for a developer or astute investor who will see project’s potential and take it to the next level.

“For a long term investor, this is a chance to create wealth and a good source of income from a multi-tenanted development. Clearly, the other option is to sell down the newly constructed units to owner occupiers that are still in the market looking to buy, but find that there are not many options to secure high quality, brand new premises.”