Commercial -
Investors and occupiers go for gold as North Shore industrial site goes up for sale
The North Shore industrial warehouse/office unit housing an international manufacturer of high-end garments has gone up for sale.
Textiles company Tintex Limited pays an annual net rent of $45,008 plus outgoings and GST for the more than 430-square metre premises on Porana Road, in Auckland’s Wairau Valley, with a market rent review due in June 2023.
Final expiry of the lease in June 2024 will widen the property’s appeal among both investors and owner-occupiers in a location which has seen single-digit vacancy rates for many years.
Unit 4, 21 Porana Road, Wairau Valley, Auckland, is being marketed for sale by Ranjan Unka, Richard Moors and Trevor Duffin of Bayleys North Shore Commercial.
Sale is by deadline private treaty closing on Thursday 18 May, unless the property is sold earlier.
Unka said the property consisted of a freehold strata-titled unit of some 432 square metres, with seven on-site car parks.
“Constructed in the 1970s, the property is the second unit back from the development’s Porana Road frontage. Office and amenity areas across two levels at the front of the unit are contained within an ‘L’-shaped warehouse which accounts for the balance of the space. The unit is fully sprinklered throughout.
“The well-maintained and tidy development provides good parking and easy accessibility for trucks and other vehicles,” said Unka.
Moors said that due to the expiry of the current lease in 2024, and the site’s significant rental upside, the property offered a chance for investors and owner-occupiers to strengthen their portfolio or secure the future of their business in a North Shore location which was in perennial demand.
“The demand for this locality has been very strong for many years and has kept vacancy rates at single digits for decades.
“Wairau Valley is the North Shore’s original commercial/industrial area and continues to be very popular for businesses, attracting a wide range of industrial, retail, showroom, offices and yard-related activities,” said Moors.
Duffin said the site’s Business – Light Industry zoning under the Auckland Unitary Plan supported industrial activities that do not generate objectionable odour, dust or noise.
This includes manufacturing, production, logistics, storage, transport and distribution.
“The property is in a popular location with excellent proximity to a strong labour force, motorway linkages, the Takapuna and Albany CBDs and central Auckland.
“It is surrounded by numerous supporting businesses, medical facilities and a massive residential catchment surrounding the Wairau Valley commercial precinct. Within walking distance are a PAK'nSAVE supermarket, Bunnings Warehouse, Mitre 10 Mega, plus cafes and eateries,” Duffin said.
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