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Potential plus in rare Penrose properties

NZ_AucklandCBD_Communications_Potential plus in rare Penrose properties2

Neighbouring properties in the tightly held suburb of Penrose present owner-occupiers, add-value investors, or developers with a rare chance to secure a prime location for their next project in one of Auckland’s most sought-after industrial precincts.

16 Bassant Avenue is a 1,550sq m freehold site with a 478sq m warehouse and office building and is located next to 18A and 18B Greenpark Road, which comprises two freehold titles with a total site area of 2,699sq m. The properties can be purchased individually or in one line.

The sites are zoned Business - Light Industry Zone and are conveniently located with Great South Road and State Highway 1 only minutes away.

Colliers Brokers Ben Cockram, Hamish West, and James Dickey have been exclusively appointed to market the properties for sale by deadline private treaty closing at 4pm on Wednesday 3 November, unless sold prior.

16 Bassant Avenue will hold particular appeal to a range of buyers given the spacious and functional clear-span warehouse that has a stud height of 6.4m at the portal knee, rising to 8m at the apex, and includes 21sq m of office space and amenities that are attached at the front of the building.

The 457sq m warehouse features three-phase power and can be accessed via five roller doors.

Cockram, Associate Director of Industrial at Colliers, says the property provides excellent street access directly from Bassant Avenue, which is a quiet cul-de-sac that runs off Walls Road.

“Given the vast landholding of some 1,550sq m this property offers low site coverage of approximately 30 per cent, providing the new purchaser with a range of options for the future,” Cockram says.

“It is incredibly rare to see industrial land like this come to the market in Penrose given it is such a tightly held location among commercial and industrial operators.”

18A Greenpark Road totals 1,457sq m and 18B Greenpark Road totals 1,242sq m combining for a 2,699sq m site with dual access from Greenpark Road and Bassant Avenue.

West, Director of Industrial at Colliers, says the Greenpark Road properties are unique in the market and make for one of the most intriguing listings in Penrose this year.

“This is a coveted location and a golden find in Penrose given the development potential for a site of this size. The 502sq m warehouse is located at 18B Greenpark Road but is in poor condition and is ripe for removal before the new owner takes advantage of this outstanding opportunity,” West says.

“It’s hard to think of a location with more potential than these sites where there is so much long-term upside available in one purchasing opportunity.

“There is no property like this available in Penrose at the moment, an area which has long been considered an industry powerhouse and is one of the most established and central suburbs in Auckland.”

“Penrose’s popularity can be attributed to its ease of access to State Highway 1, its relatively short distance from the CBD, good access to Auckland Airport via State Highway 20 and its proximity to

the nearby labour pools of Onehunga, Mount Wellington, Ellerslie, and Greenlane. Its accessibility makes it an industrial hot spot for tenants, owner occupiers and investors.”

Dickey, Industrial Sales Broker at Colliers, says there is a distinct shortage of developable industrial land across Auckland, which makes this a premier purchasing opportunity.

“Penrose is one of the city’s prime locations that remains appealing to a range of buyers and these properties offer vast potential in a highly desirable industrial precinct in the heart of Penrose,” Dickey says.

“We expect there will be strong interest in these properties and recommend all interested parties to do their due diligence and contact us immediately.”

Related Experts

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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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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James Dickey

Broker | Industrial

Auckland South

Specialising in the industrial market as a sales and leasing broker, James took the opportunity to join the most well recognised and awarded industrial brokerage team in Auckland, based at Highbrook, East Tamaki.  He has proven very quickly to be an integral and valuable member of this dynamic team.  James’s specific focus is on Penrose, Mt Wellington, Otahuhu and Onehunga, where he covers a wide range of sales and leasing transactions with properties that vary in size and value.

James completed his Bachelor of Commerce degree majoring in Finance and Accounting at Otago University and in his final year, also undertook his Real Estate licence.  Without a doubt, his true passion and ambition was realised when he chose a career in property as an industrial broker with Colliers.

James’s incredibly strong work ethic, tenacity, and desire to achieve the best possible results for his clients is respected and admired by colleagues and clients alike.  He has proven himself to be proactive, knowledgeable and above all highly effective in a very short period of time.

Since starting brokerage just a year ago, James has been involved in over 50 transactions and has many satisfied clients with the results they have acheived.

Please do not hesitate to call James for any property queries or requirements.

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