A new multi-unit development set for completion in 2022 in a tightly held commercial pocket of Northcote will bring seven warehouse and office units and a cafe to the market providing prospective tenants with flexible lease options and the opportunity to secure an architecturally designed premises.
Construction has commenced at the site, which is located at 14-18 Kawana Street in Northcote, with the first tilt slabs now in place. Completion is expected in May 2022, which will boost supply in an extremely popular and highly accessible area that has historically been starved for choice.
The seven units will vary in size from approximately 485sq m to 950sq m with car parks assigned for each property, while the road-front cafe will be 108sq m with a 35sq m deck.
Kawana Street is 350m away from Onewa Road, which offers immediate access to State Highway 1 with Auckland’s CBD a short drive away.
Prentice, Director of Sales and Leasing at Colliers, says the unique nature of each unit means there will be something for everyone and all units come with an approximately 40sq m canopy for loading and unloading goods.
“Each unit consists of an airconditioned office and showroom, and a clear-span 9m high stud warehouse, which can be accessed via an electric roller door,” Prentice says.
“Units 1, 3, 5 and 7 comprise the western block, while Units 2, 4, 6, and the cafe, which is sure to be popular among the surrounding properties and neighbourhood, make up the eastern block.
“The development has been created with flexibility in mind, providing a variety of configurations for occupiers to consider.”
· Unit 1 is 664sq m, has an annual lease of $141,280, and includes nine car parks.
· Unit 2 is the largest of the complex and features two offices and a large warehouse in the 954sq m unit, which includes 13 car parks. The annual lease is $218,300.
· Unit 3 is 525sq m, has an annual lease of $112,860 and includes six car parks.
· Unit 4 is 524sq m, has an annual lease of $113,870, and includes seven car parks.
· Unit 5 is 525sq m, has an annual lease of $114,160, and includes seven car parks.
· Unit 6 is 497sq m, has an annual lease of $110,490, and includes seven car parks.
· Unit 7, located at the rear of the western block, measures 556sq m, has an annual lease of $119,250, and includes seven car parks.
De Zwart, Associate Director of Industrial Sales and Leasing at Colliers, says the location is part of an area in Northcote that has convenient connectivity to the surrounding suburbs.
“To the south is Birkenhead, comprising many retail outlets and commercial offices. The Highbury Shopping Centre is located within central Birkenhead, anchored by the Countdown supermarket,” de Zwart says.
“The suburbs of Northcote, Northcote Point, Birkenhead, and Hillcrest provide a strong catchment of local workers and customers to this pocket of development, which is situated within the fast-growing Kaipātiki Local Board area. “
Tuson, Industrial Sales and Leasing Broker at Colliers, says the property is part of an area experiencing notable regeneration.
“Refurbishment or redevelopment is occurring in Northcote and Wairau Valley due to the dated nature of the existing stock, which provides a range of exciting new opportunities for the area,” Tuson says.
“We expect there will be strong interest in these units, which represent a premier leasing opportunity in a highly sought-after area of the North Shore, and we encourage all prospective tenants to investigate their future occupational options and contact us immediately.”
The complex is zoned Business – Light Industry Zone under the Auckland Unitary Plan and this designation covers manufacturing, production, logistics, storage, transport, and distribution activities.