Best of both worlds combined on Carbine

1:50 PM Saturday June 14, 2014 Colin Taylor

The Carbine Rd warehouse and land is suitable for a variety of uses.

In Mt Wellington's well known industrial thoroughfare of Carbine Rd, a 3800sq m warehouse on a big site and with refurbished office space is being marketed for sale as being suitable for light industrial warehousing or distribution operation.

The 8264sq m property at 121 Carbine Rd will be auctioned at 11am on Thursday, July 3, in Colliers International's Auckland office at 151 Queen St.

Andrew Hooper, who is marketing it with colleagues Paul Higgins and Hamish West, says the site is in a suburb that is transitioning from traditional industrial and warehousing activities to greater mixed use.

"Land in Mt Wellington's industrial area is incredibly limited and tightly held, and when properties like this come available, we are seeing increasing interest from owner-occupiers in a wide variety of businesses that need a lot of warehousing space close to the CBD," Hooper says. "Mt Wellington used to be predominantly used for heavy industry, but it is now attracting a mix of industries, including transport, logistics and wholesale users, all of whom would be interested in this property.

"While it will appeal to owner-occupiers, we also expect interest from investors looking for a property that can be leased out now as is and possibly expanded later as land values continue to increase. Due to the location's closeness to the CBD, and the fact that the area has been so intensively developed, land supply here is virtually zero."

Hooper says most of New Zealand's large listed property funds own property in the area as rental and capital growth has been very steady over the long term.

The site is zoned Business 4, permitting low to medium intensity light industrial and service activities.

The building comprises 2637sq m of warehouse space, 397sq m office area, 194sq m ground floor showroom, 206sq m basement storage and a large canopy. A sealed driveway provides drive around access to the warehouse and leads to parking at the front of the building.

The main warehouse has vehicle access via roller doors to both the front and the rear of the site, and a stud height of 6.5m, rising to about 8m with only one row of internal columns. The building was constructed in the late 1980s and has reinforced concrete foundations, concrete floor slab, part concrete block base walls, and predominantly longrun cladding on the roofing over a steel portal frame.

West says the property may also attract a business needing showroom space, which is becoming more common in Mt Wellington since the development of Sylvia Park mall.

"Sylvia Park mall has really changed the nature of Carbine Rd from industrial to mixed use. Even retail operators, particularly in the wholesale trades, are competing for the space in this area."

Higgins says Mt Wellington is considered one of Auckland's best industrial areas, situated about 12 minutes' drive from Auckland's central business district.