Two versatile industrial buildings on mixed-use land have been offered for sale with vacant possession in what is being marketed as a ‘peerless opportunity’ in Auckland’s CBD fringe.
The adjacent freehold properties at the corner of Taylors and Gordon roads, Morningside, are on the market for the first time.
With a combined floor area of 2,011sq m on 2,554sq m of development-friendly land, and some 100m of road frontage, the real estate for sale is positioned within a fast-rising commercial and residential precinct.
Colliers has been exclusively appointed to market 6-8 Taylors Road and 2-4 Gordon Road, Morningside, Auckland, for sale together or separately. Sale will be by way of deadline private treaty closing at 4pm on Thursday 15 July, unless the properties are sold prior.
Jonathan Lynch, Industrial Associate Director at Colliers, says the building at 6-8 Taylors Road contains a warehouse of some 778sq m, ground-floor office amenities of 121sq m plus a 107sq m first-floor office. It sits on approximately 1,416sq m of freehold land with 11 car parks.
The approximately 1,138sq m of freehold land at 2-4 Gordon Road houses a building with a 780sq m warehouse, a ground-floor showroom and offices totalling 86sq m, and 79sq m of first-floor mezzanine storage, office and amenities. This property comes with 10 car parks.
“Industrial buildings of scale, anywhere in the CBD fringe, are scarcely available and rarely come to market – let alone two adjacent offerings of this size and quality going up for sale for the first time.
“Home in recent years to a New Zealand manufacturer of home shading systems, these sites will present buyers with an even rarer opportunity – to acquire them with vacant possession, allowing a new owner to make plans imminently.
“The options are numerous and will appeal to multiple buyer types, including owner-occupiers, add-value investors and developers. The possibilities are compounded by the ability to purchase either the entire 2,000-plus sq m of improvements or buy one of the buildings at about half this floor area,” says Lynch.
The Morningside properties’ considerable long-term redevelopment potential is underpinned by their Business – Mixed Use zoning under the Auckland Unitary Plan, allowing a building height of up to 18m.
Matt Prentice, Industrial Sales and Leasing Director at Colliers, says this zone provides for residential development as well as a myriad of smaller-scale commercial activities ranging from offices, retail and supermarkets to food and beverage, visitor accommodation, entertainment, education and healthcare facilities, industrial laboratories and light manufacturing.
“The development and intensification opportunities presented by this zone are transforming parts of Auckland’s city fringe. In Morningside, it is helping to drive a wave of urban renewal which has made the suburb one of Auckland’s most loved and fashionable commercial and residential precincts.
“The area is seeing unprecedented development activity, including café and hospitality hubs, warehouse conversions to high-end offices, and new bulk retail operations,” says Prentice.
Hamish Paterson, Capital Markets Broker at Colliers, says completed projects include the vibrant hospitality precinct in McDonald Street, a new trio of high-stud office/showrooms on Ethel Street, a development in Taylors Road incorporating Briscoes head office and Rebel Sport retail, and a nearby full-format Briscoes store.
Also within walking distance of the sites for sale are key amenities such as Morningside Train Station, Westfield St Lukes shopping centre, the Kingsland retail and entertainment strip and Eden Park.
“Nearby Morningside Drive offers easy access to the major arterial routes of New North Road and St Lukes Road.
“About five minutes’ drive away are the St Lukes onramps to the Northwestern Motorway, providing connections to the Southern and Northern motorways, and through them to locations across the region,” says Paterson