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Huge potential on offer with large Mt Wellington site

Huge potential on offer with large Mt Wellington site

One of the last remaining large-scale industrial development sites in Mt Wellington has come to the market in what shapes as a once in a lifetime opportunity for developers, add-value investors or owner-occupiers searching for the chance to purchase a property with immense future potential.

151C Marua Road in Auckland’s Mt Wellington is a 2.2ha freehold location with low site coverage, benefiting from excellent access from Marua Road and a second entry point from Mono Place.

The vast warehouse and office space provides 8,125sq m of total net lettable area, including 528sq m of canopy, with Nexus Performance Foams Limited leasing 4,035sq m of the building, leaving 4,090sq m available to occupy.

Colliers Brokers Hamish West, Ben Cockram and David Burley have been exclusively appointed to market the property for sale by deadline private treaty closing at 4pm on Wednesday 8 September, unless sold prior.

West, Director of Industrial at Colliers, says properties of this size and scale are rarely seen on the market.

“This large site will be sought-after by a range of buyers who are searching for assets with future upside in a prominent location,” West says.

“The potential of the site is immense, and this property represents the chance for the new owner to explore long-term development opportunities.

“With a high-quality tenant in place for half of the building, the new owner will have the security of holding income before deciding their next moves. Mt Wellington has an incredibly low vacancy rate for industrial premises.”

Nexus Performance Foams, a subsidiary of NZX-listed Skellerup Holdings, began an eight-year lease in July 2019 with two-yearly market rent reviews. There are two rights of renewal in place for four years each with a final expiry in June 2035.

There is a redevelopment cause in place after the expiry of the first term and the lease provides a net rental income of $436,707 plus GST per annum. The areas occupied by Nexus include a 3,753sq m warehouse, 282sq m office, and 264sq m canopy.

The vacant section of the building comprises a 3,857sq m warehouse, 233sq m office, and shares half of the 528 sq m canopy.

The property is zoned Business - Light Industry under the Auckland Unitary Plan, which provides for industrial activities that do not produce objectionable odour, dust, and noise emissions.

Cockram, Associate Director of Industrial at Colliers, says the building has undergone previous improvements that enhance the warehousing function alongside the well-maintained office space.

“Aside from the spacious and highly functional warehouse, the property is well-serviced with great access, yard space, and car parking,” Cockram says.

“Marua Road has excellent proximity to multiple transport networks and serves as one of the key arterial routes linking the east of the city to State Highway 1, and the surrounding suburbs.”

The wider Mt Wellington area also offers tremendous access to the CBD, South Eastern Highway and Auckland Airport.

Burley, Associate Director of Investment Sales at Colliers, says the current owner has held this property for 26 years and it has stood the test of time in one of Auckland’s key growth locations.

“Marua Road is benefiting from the significant development which has occurred through Lunn Ave and Stonefields. It has become a pre-eminent location for many businesses including Mitre10, Placemakers, New World, Bunnings, Countdown, and others,” Burley says.

“Beyond this it boasts a fantastic array of amenities and is just a short drive from New Zealand’s largest shopping mall Sylvia Park.”


Related Experts

Hamish West

Director | Industrial

Auckland South

With more than twelve years of experience in the commercial and industrial property sector, Hamish has been involved in a significant number of industrial property projects in Auckland and across New Zealand. During this time he has been responsible for the sale of more than $1.4B worth of industrial assets, in addition to providing leasing and design build solutions totalling more than 660,000m² for a range of major local & international occupiers.

Career Success

Hamish has proven to be a consistent and highly effective broker and in 2012 & 2015 was awarded with the Colliers National MVP Award for Brokerage Excellence, and 2015 saw him achieve the ranking of 6th highest revenue earner in Colliers nationally.

Market Specialisation

Hamish specialises in the sale and leasing of high value assets in the South Auckland Property market and has been involved in many projects including:

  • Sale and leaseback transactions
  • Tenanted Investment sales
  • Receivership sales
  • Vacant possession sales
  • Development property sales
  • Land sales
  • Vacant building leasing
  • Design build leasing
  • Tenant property sourcing
  • Purchaser property sourcing

Hamish has done a significant portion of his work with both private clients and corporate clients including Goodman, PFI, Broadway Developments, Southborne Holdings, Stride, Kiwi Income, Auckland Airport, Norak Properties, JKGL Group, Samson Corporation, Southpark Corporation, Quadrant, Location Group, Argosy, Windward Properties, and Depot Investments to name a few.

Recent occupiers include Bunnings, GPC (Repco), GUD, Ricoh, Ideal Electrical, Crown, Sirva, Wedderburn, GEA Process Engineering, Delmaine, Siemens, Hydraulink, Verifone, Sistema, Tyco, Bunnings, Fletchers, PMA Global, Compac Sorting Equipment, and many other SME businesses.

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Ben Cockram

Associate Director | Industrial

Auckland South

I am an Associate Director within Auckland's most awarded industrial brokerage team based in Highbrook, Auckland. 

 Specialising in industrial sales and leasing, I have over 6years  experience in Auckland's highly competitive industrial market and have forged very strong relationships with both owners and tenants. I am a highly motivated individual who approaches all transactions with professionalism, integrity and vigour.  
Since commencing brokerage in September 2014, I have been involved in 121 leasing transactions and 110 sales. Having leased and sold buildings of all sizes in Auckland I have vast experience in all areas of Auckland's industrial market. 

In 2018 I was made an Associate Director of Colliers International NZ. 

As of January 2021;

Total sales transactions - 110
Total sales value              -  $301,271,980 

Total leasing transactions - 121
Total sqm leased                   -  126,600m²

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David Burley

Associate Director

Auckland

David is an Associate Director in the Investment Sales team in Auckland, specialising in the sale and lease of commercial property in Auckland.  Since joining Colliers David has been involved in a number of high profile transactions in the CBD and city fringe. Whilst David offers a broad range of services, his areas of expertise focus on the sale and acquisition of investment properties (office, retail or industrial), the re-positioning and refurbishment of under-utilised buildings, commercial developments and land sales.

Prior to joining Colliers, David earned a law and politics degree from the University of Otago and had 10 years professional experience as an investment banker, financial consultant and commercial lawyer. David's broad professional experience gives him a strong commercial understanding and a highly beneficial insight into the mindset of how vendors and purchasers operate. Furthermore, David's technical knowledge of mergers and acquisitions and corporate/commercial law are vital when negotiating on behalf of his clients.

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