Functional warehouse in popular New Lynn
The industrial property at 11 Stock St, New Lynn, is identified by a blue border. Photo / Supplied
A freehold industrial property for sale in Auckland’s fast-growing New Lynn is likely to suit owner-occupiers seeking a functional warehouse in a tightly held location.
Colliers International brokers Dhiru Patel and Dwayne Warby are marketing the 1634sq m property at 11 Stock St for sale by auction on March 14.
Patel says it is the first time the property has been offered to the market since 1987 when the current owners purchased it as owner-occupiers.
They later leased it out and are now taking it to market after more than 30 years of ownership.
“This is an opportunity for owner-occupiers or add-value investors to secure a foothold in the sought-after New Lynn industrial precinct,” Patel says.
“This tidy standalone property has 830sq m of versatile warehouse space, 242sq m of office space, and access to the rear yard via the drive way down one side of the building.
“We’re anticipating strong demand for this property, given New Lynn’s very low vacancy rate and the lack of suitable stock available for owner-occupiers.”
The main area, the downstairs portion, is now leased month-by-month; while the upstairs office or workspace area is vacant.
“There is obvious flexibility for new occupiers with growth plans, or useful holding income for an investor seeking a new long-term tenant,” Patel says.
The lease for the occupied area of the building earns $102,000 per annum plus operating expenses.
“The property could easily revert into the three former separate tenancies, allowing investors to spread their risk or owner-occupiers the chance to draw on an additional income,” Patel says.
He says the Business-Light Industry zoned property comprises a well-presented, regularly-shaped building with road frontage.
“The generic nature of this property, along with its favourable warehouse-to-office ratio, makes it suitable for a wide range of uses,” Patel says.
“The high-stud warehouse is accessed via two roller doors in the front and a single roller door at the rear.
“At the ground level 116sq m of office space is available, while a separate entrance provides access to 126sq m of office on the first floor.”
Warby says the property is well located within New Lynn.
“Stock St is in New Lynn’s popular industrial precinct, which is mostly made up of small to medium sized businesses.
“Automotive businesses are particularly prevalent in the immediate Stock St area, which connects Great North Rd with Delta Ave.”
Warby says the property is only a short distance from train and bus services at the New Lynn transport hub.
“It is also well situated in relation to Rosebank Rd, the recently completed Waterview Tunnel and the greater West Auckland suburbs,” he says.
“The property is only 15-20 minutes’ drive from Auckland’s CBD at non-peak times, while surrounding residential localities provide a stable source of labour.”
Warby says the property’s Business-Light Industry zoning allows for a range of industrial activities that do not generate objectionable odour, dust or noise emissions.
This includes light manufacturing, production, logistics, storage, transport and distribution activities.
The zoning also allows for developments up to 20m high.