A premium industrial property, recently built in a sought-after Onehunga location, is for sale with a short-term leaseback providing holding income for a new owner-occupier or investor.
The immaculately presented building at 28-30 Miami Parade, Onehunga, Auckland, provides 1,195sq m of functional space including a high-stud warehouse, large canopy, secure yard, two-level office and a well-presented executive suite.
It is situated on a 1,113sq m freehold site that is centrally located for superb access to the wider Auckland region.
It is to be auctioned at 11am on Wednesday 19 August, unless sold prior.
Cockram says the property will be appeal to industrial owner-occupiers seeking space in a tightly held area.
It will also suit investors keen to capitalise on strong occupier demand, as Auckland’s industrial vacancy rate remains stubbornly low.
“A property of this calibre is unrivalled in this sought-after central location,” says Cockram.
“Completed in late 2016, it is built to the highest specifications and exceptionally presented throughout.
“It features a high stud, clear-span warehouse of tilt slab construction with a generic layout that is suited to a multitude of different uses.
“An abundance of natural light streams into the warehouse through the clear light roofing, while multiple LED fixtures provide additional lighting when required.
“An extra-wide, motorised roller door is accessible via a secure yard which further benefits from a large canopy, enabling additional weather coverage for outdoor storage and container de-vanning.
“All of these features will be highly sought by occupiers. Sweetening the deal is the vendor’s proposed leaseback terms, which will provide a new owner with up to 12 months of holding income while they prepare to move in or secure a new tenant for the space.”
Cockram says the property was purpose-built for the vendors to provide a high-quality factory space.
“The owners are now seeking a change of lifestyle and are selling the facility to realise their future plans.
“This presents a superb opportunity to acquire a premium property that would otherwise remain tightly held.”
West says the property is very well located on the borders of the established industrial precincts of Onehunga and Penrose.
“The site is situated at the western end of Miami Parade, a cul-de-sac which can be accessed directly off Neilson Street or from feeder streets, Angle Street and Pukemiro Street.
“Onehunga has long been considered an industry powerhouse and is one of the most established and central suburbs in Auckland.
“Onehunga’s popularity can be attributed to its ease of access to State Highway 1, its relatively short distance from the CBD, good access to the Airport via SH20 and its close proximity to the nearby labour pools of Penrose, Mt Wellington, Ellerslie and Greenlane.
“This accessibility makes it an industrial hot spot for tenants, owner occupiers and investors. The area has also benefited from several key infrastructure commitments including the Waterview Tunnel connection providing faster access to the CBD, and upgrading of the train station and Onehunga Mall.”
The property is zoned Heavy Industry, which is Auckland’s most intensive industrial zoning, allowing for a wide range of industrial activities.
West says the property features modern construction throughout and the overall presentation of the building is second to none.
The warehouse is of a tilt slab construction with a stud height of 6.7m to 7.1m and clear-span throughout.
The large canopy features LED lighting for all-weather use and covers the majority of the yard, providing additional outdoor storage or container-devanning area. The site is protected by an electric security fence and alarm system.
The front office is spread over two levels and features full kitchen and bathroom facilities, including a shower, and presents as if brand new.
Fibre internet runs into the building and the first floor includes four partitioned offices that could easily be reinstated into a more open plan layout, if desired.
At the back of the building, the executive suite features a full kitchen and open plan area, as well as an immaculate bathroom and partitioned office.
“This property’s well-considered features, premium presentation and superb location make it a hugely desirable offering,” says Cockram.“As an opportunity for occupiers or investors, it really does tick all the boxes. This auction should not be missed.”