Huge Penrose Development Site with Holding Income
3-5, & 9-17 Walls Road, Penrose, Auckland City
Price On Application
- Proposed Usage
- Floor Area
- 1453.00 m²
- Land Area
- 16547.00 m²
- Property ID
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The freehold site totals a substantial 16,547m². Made up of four titles, the site comprises multiple industrial buildings of varying ages. 3-5 Walls Road is a 2,130m² site split over two titles and consists of a modernised warehouse building with showroom and office over two levels. The remainder of the site is mostly sealed asphalt yard with mesh fencing forming a secure side yard. The site holds a road front position with excellent profile to Walls Road.9-17 Walls Road is a 14,417m² site contained within two separate freehold titles. The site comprises a large industrial complex with two levels of office accommodation together with warehousing of varying condition and age. The property enjoys a good profile with wide street frontage to Walls Road. The balance of the site is mostly sealed asphalt yard, also with mesh fencing forming a secure side yard.
Of the total buildings area, 8,950m² is currently vacant and 1,450m² is leased, providing holding income. With multiple buildings, the site presents the potential to split into various tenancies and enjoy split-risk.
This is a fantastic opportunity for owners wishing to occupy all or part of the site or developers who can enjoy holding income while they plan.