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Vacant industrial assets in high demand near logistics hubs

An industrial property in the tightly held Manukau Business Precinct has generated strong interest amongst owner-occupiers as demand for large properties in geographically favourable areas ramps up.

The vacant warehouse on 3,230sqm (more or less) of freehold land at 50-52 Grayson Avenue is in a prime position easily accessible to critical logistics hubs at Auckland Airport, Wiri and Drury, in addition to nearby supporting industrial precincts at Onehunga and Penrose.

Bayleys salesperson Karl Price says the property is offered to the market at a time of growing demand for vacant industrial premises, as businesses buoyed by growth during the pandemic upgrade their requirements to suit operational development.

“Changing consumer preferences and pandemic volatility has benefitted some sectors, while others have not fared as positively.

“Demand for healthcare products and pharmaceuticals, e-commerce, food, grocery and digital services increased during the pandemic, in addition to ongoing demand for trade services and building supplies.

“Growth, particularly for e-commerce, has fed a growing interest in properties proximate to locations where goods end up. This heightened activity has seen businesses within these sectors increasingly ‘right-size’ their premises in line with growth objectives.

“Positioned to benefit from key industrial and logistics developments, properties within the Manukau Business Precinct are thought to have a meaningful capacity for potential value uplift given the massive recent growth of surrounding freight hubs, ‘last mile of delivery’ logistics developments, distribution centres and couriers,” he says.

Mr Price is marketing the Grayson Avenue premises for sale with colleague Nick Bayley.

The property is offered for sale by negotiation, closing at 2pm on Thursday, 18th May 2023 (unless sold prior).

Featuring a floor area of 1,311sqm, the property comprises medium-stud warehousing with approximately 197sqm of single-level office and amenities at the front of the building and 79sqm (more or less) of mezzanine storage/office space.

Circa 1,036sqm (more or less) of factory/workshop accommodation features drive-through capability via two roller doors.

Two additional roller doors at the rear open onto 845sqm (more or less) of secure outdoor storage area.

The T-shaped site in Business – Light Industry zone also features a fully concreted accessway from Grayson Avenue with an anterior yard, ideal for container devanning and vehicle manoeuvrability.

Bayleys salesperson Nick Bayley says the property is being sold with vacant possession. However, it returns $8,438 plus GST pa from a cellular tower located on the site’s northern boundary, which is somewhat removed from the main premises.

“The property is fitting with broader area development, the bulk of which took place in the two decades to 1990, where demand for large-scale industrial products on Auckland’s southern corridor rose.

“While in good operational condition, the premises provides an additional value proposition for an owner-occupier looking to refurbish or reimagine the property to suit individual requirements or an investor which may seek to capitalise on growing demand in a location with limited inventory.

“Benefitting from easy access to the Southern and Southwestern motorway systems, the property features good access to main arterial routes, including Cavendish and Lambie Drive, Roscommon and Great South Roads.

“Traffic-dependent, it is also just 22 minutes from Auckland’s CBD.”

Mr Bayley says the Manukau Industrial Precinct has always been a performing property hub, highly sought after amongst investors and occupiers for a desirable mix of size, location and tenant demand.

“The area provides unrestricted access in every direction for manufacturing, logistics and warehouse operators. It is unrivalled in convenient access to both State Highways 1 and 20, the Inland Port, Wiri, Papatoetoe, East Tamaki and the Auckland Airport – offering businesses greater logistical efficiency.”

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