A large, strategically located Wairau Valley property with huge exposure to the busy main road is for sale with holding income and low site coverage, providing multiple options for owner-occupiers, developers and investors.
The 5,145sq m freehold property at 155 Wairau Road is situated less than 200m from the Tristram Avenue motorway interchange, in one of the most tightly held areas of Auckland’s North Shore.
It comprises a flat, regular-shaped site with a 1,936sq m structure that is predominantly a single-level warehouse, suitable for a variety of uses.
The low site coverage of only 37 per cent allows a new owner to explore redeveloping the site to add value or adapt to their future needs.
A short-term lease returns $468,586 in net annual rent with final expiry on 31 May 2022, providing holding income while a new owner looks to unlock the site’s potential.
“Strategically positioned metres from State Highway 1, this property provides an exceptional opportunity for an owner-occupier, developer or investor to secure a large piece of Wairau Road with enormous potential.
“The Wairau Valley area continues to experience very low vacancy and high demand from occupiers. It offers very high levels of amenity and accessibility, with Auckland’s CBD within a 15-minute drive in off-peak traffic.
“Wairau Road is one of the most sought-after locations anywhere in Auckland and with over 40,000 cars passing daily, the profile and potential will be hard to ignore.”
Colliers International is marketing the property for sale by auction at 11am on Wednesday 16 December, unless it is sold earlier.
Director Shoneet Chand says the property offers dual access and 50m of frontage to Wairau Road, maximising exposure to the busy locale.
“The substantial sealed yard provides 122 on-site car parks, while the site’s Business Light Zoning Industry zoning allows for retail uses, due to a zoning corridor overlay.
“This provides scope for a new owner to secure high-profile premises surrounded by a range of complementary businesses including Mercedes, Bunnings, Mitre 10, Pak'n Save, Tristram European, Harvey Norman, Nissan and Rebel Sport.”
“It is very rare for an opportunity of this calibre to be available in the North Shore market, making this a truly premier offering.”