Mt Wellington Crown-leased asset for sale

A large-format freehold industrial holding with secure income and strong underlying land value is now for sale in Mt Wellington, widely regarded as one of Auckland’s premier industrial precincts.

The offering gives institutional capital, family offices and high-net-worth investors the chance to establish a position in a market where scale, connectivity and entrenched occupier demand continue to underpin long-term performance.

Large-format industrial property on 1.45 hectares

Built in the mid‑1990s and subsequently upgraded, 12–14 Lockhart Place delivers around 7,340sqm of efficient warehouse and office space, plus 51 car bays, on a significant 1.45‑hectare freehold landholding zoned Business – Light Industry at the end of a quiet cul‑de‑sac.

Warehouse and yard support operational flexibility

High-stud warehousing, an all-weather canopy, generous yard and loading areas, dual access and practical circulation support large-format operational, storage and distribution requirements. The site’s size, zoning and connectivity underpin its long-term fundamentals, providing future re-letting and potential redevelopment optionality beyond the current long-term secure lease.

Crown lease provides secure long-term income

The asset is fully-leased to the New Zealand Government, delivering contracted income of $1,651,884 per annum plus GST. The tenant has occupied the property since 2017 and recently committed to a new nine-year term from September 2026, providing secure cashflow. Annual CPI rent reviews, together with three-yearly market reviews, offer inflation-linked income growth at a time when rental uplift across the industrial sector is moderating and leasing incentives are rising in some precincts.

Mt Wellington asset offered by deadline private treaty

The property is being marketed by Sunil Bhana, Scott Campbell, Charlie Tudehope and James Valintine of Bayleys, and is offered for sale via deadline private treaty closing Thursday, 3 December.

Central Auckland transport links support demand

Mt Wellington’s position at the centre of Auckland’s transport network continues to anchor its appeal, with efficient access to State Highway 1, the wider arterial system and major commercial hubs including Sylvia Park cementing its business credentials in the eyes of investors and occupiers.

“Sustained public and private investment across Mt Wellington, including the redevelopment of former brownfield sites into high-quality industrial assets and the continued evolution of the Sylvia Park mixed-use precinct, is strengthening the area’s position as one of New Zealand’s leading industrial markets,” says Bhana.

Investment strengthens Mt Wellington industrial precinct

Mt Wellington’s profile has been materially lifted by large-scale private investment, with Kiwi Property’s continued expansion of Sylvia Park and IKEA’s arrival there putting the precinct firmly on the national map.

“These projects have broadened the catchment’s appeal by drawing in new operators, reinforcing the area’s long-term commercial relevance and elevating it to one of Auckland’s most competitive industrial locations,” explains Campbell.

“A property with Crown-covenanted income on a freehold site of this scale is exceptionally hard to replicate and is increasingly sought-after by capital looking for certainty in a tightening market.”