Roma Road property in tightly held central Auckland suburb
A bite-sized industrial unit for sale in tightly held Mount Roskill offers entry-level investors a chance to invest in one of Auckland’s most sought-after industrial hubs.
Colliers International has been exclusively appointed to market 44 Roma for sale by deadline private treaty closing at 4pm on Thursday 19 July, unless sold prior.
Broker Gawan Bakshi is marketing the property with Colliers International colleagues Ned Gow and Hamish West.
He says the 549sq m freehold property is an ideal investment for family trusts, mum and dad investors, and residential investors looking to establish a foothold in the coveted industrial property sector.
“Industrial continues to outperform the other key commercial property sectors due to strong demand and low vacancy, which is helping to keep yields at near-record lows,” he says.
“The problem for entry-level investors is that there simply isn’t a lot of investment stock available at lower price points – particularly in sought-after industrial precincts like Mount Roskill.
“The property for sale at 44 Roma Road is ideally located within a tidy business complex that offers excellent proximity to the Southwestern Motorway and the Waterview Tunnel.
“It is fully leased to three tenants, providing multiple income streams and scope for rental upside.
“With a real shortage of entry-level industrial properties on the market, we’re expecting very strong interest in this split-risk investment opportunity.”
Built in the 1980s, the property comprises a 320sq m warehouse, 229sq m of office over two levels, and 10 car parks.
Gow says the warehouse offers roller door access, three-phase power supply, and a medium to high stud height.
“Tenanted by a hospitality company, the warehouse returns $43,000 in annual rent. Two years and nine months remain on the current lease term, with two rights of renewal of three years each.”
Gow says 103sq m of office space is leased to a small advisory business, returning $15,000 in annual rent.
“Three months remain on the current lease, with five rights of renewal of two years each.”
The remaining 126sq m of office space is on a month-by-month lease returning $19,000 in annual rent.
“This offers scope for a new owner to re-lease the office space, potentially on a longer lease term or with rental uplift,” Gow says.
West says the property is superbly located about 20 minutes’ drive from the CBD, Ports of Auckland, and Auckland International Airport.
“The Waterview Tunnel has been a real game-changer for the industrial hub of Mount Roskill, he says.
“Vastly improved accessibility has led to an uptick in demand for commercial and industrial space, which means there is almost no vacancy year-round.”
West says the property for sale is roughly midway between the motorway interchanges on Maioro Street and Dominion Road, giving it excellent accessibility to the wider Auckland region.
“Established commercial brands including Foodstuffs, Gilmours, The Warehouse and McDonald’s occupy properties in close proximity.”
Bakshi says Foodstuffs is due to move to new premises at The Landing Business Park, at Auckland International Airport, in 2021.
“Due to this we are anticipating gentrification and uplift in the Mount Roskill area in the medium to long term.
“This is likely to further boost demand for industrial property in the area, making the bite-sized investment opportunity at 44 Roma Road a particularly astute buy.
“Savvy investors will want to get a foothold in the area today ahead of the transformation we’re expecting over the coming months and years.”
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