BMW Group is moving on from its longstanding New Zealand headquarters, presenting a chance to secure a high-profile Mt Wellington commercial building with huge exposure to Auckland’s busiest arterial route.
Situated on an elevated site within the popular Pacific Rise Business Park, the property comprises a 4,168sq m commercial building on 6,595sq m of freehold land.
Its commanding position provides significant profile to State Highway 1 and excellent signage opportunities for a new occupier.
Colliers International has been exclusively appointed to market the property at 7 Pacific Rise, Mt Wellington, for sale by international expressions of interest.
It is offered for sale with vacant possession, providing a blank canvas for a new occupier or an add-value opportunity for an investor.
The vendor will also consider a deferred settlement or short-term leaseback, offering flexibility or extra income for a new owner.
Gareth Fraser, Auckland Director of Investment Sales at Colliers, says the property will have immense appeal for a wide range of buyers.
“With longstanding owner-occupier BMW Group moving on, this is an outstanding opportunity to occupy or invest in a tightly held location.
“The high-quality, three-level building provides a versatile mix of office, showroom and warehouse space.
“With huge profile and exposure to arguably the busiest stretch of road in New Zealand, the site presents a multitude of potential uses.
“The building is suitable for e-commerce, distribution, storage, office and showroom use, or a combination of all of these.
“The large site, combined with flexible Business Park zoning, also makes the property suitable for future expansion or redevelopment.”
Charlie Oscroft, Director of Colliers’ Auckland Investment Sales team, says the property has strong amenity value with excellent proximity to transport, shopping and a growing residential catchment.
“The property is strategically located next to the on-ramp to State Highway 1, which is Auckland’s busiest arterial route.
“Auckland CBD is a 15-minute drive away, while the motorway also provides excellent connections to commercial and industrial precincts in Newmarket, Greenlane, Penrose, Manukau, East Tamaki and Wiri.
“The property is only 1km from the established Sylvia Park shopping centre, which is at the heart of a growing hub of commercial and retail activity.
“It also benefits from excellent proximity to Great South Road, which is one of Auckland’s busiest arterial routes and a key commercial destination.
“Other key infrastructure in the area includes the recently completed AMETI roading development, which now links Panmure with Mt Wellington Highway. The second stage of the AMETI project is now well underway and will create improved access to Auckland’s eastern suburbs.”
Logan Roach, Investment Sales Broker at Colliers, says the established Pacific Rise Business Park was first developed in the early 2000s, when this was a predominantly industrial location.
“The business park now boasts top national and multinational tenants including Ecolab and Geneva Finance.
“Since its development, the immediate area has seen significant commercial and retail development, which continues apace as infrastructure and amenity improves.
“The surrounding suburbs of Stonefields, Panmure, Penrose and Ellerslie are popular residential suburbs which have undergone continued growth.
“The significant Tāmaki Regeneration Programme, which is underway, will add another 10,500 new homes to the catchment over the next 25 years. “
The property for sale presents well and provides a range of spaces that would suit a variety of occupiers.
The commercial accommodation is split across two levels, with 456sq m of office space on the ground floor and 801sq m on the first floor.
The ground floor also provides a 185sq m reception and lobby, a 205sq m showroom and 131sq m bistro.
The attractive lobby is double height and features extensive floor to ceiling glazing and an eye-catching staircase leading to the first floor.
Functional space includes a 1,662sq m basement, 175sq m workshop and 219sq m of storage.
The property also provides 32 external car parks and 108sq m of outdoor terraces.
The vendor would consider a lease back of 500sq m of office space, providing short-term income for a new owner. The vendor is also prepared to consider a potential delayed settlement to 30 June 2021 at the latest.
Expressions of interest close at 4pm on Wednesday 28 October, unless the property is sold earlier.
