Industrial land for sale in Onehunga

5:00 AM Saturday September 3, 2016 True Commercial

The land at at 31 Victoria Street is zoned Business 6, with building coverage of just 13 per cent.

Barfoot & Thompson Commercial is offering a significant Onehunga property for sale in the highly coveted Business 6 Zone.

The property, at 31 Victoria St, is for sale by negotiation with an asking price of $3.95 million. It is being sold by Commercial/Industrial agents Nick Wilson and James Marshall.

Wilson is confident the freehold commercial property of 6522sq m, with a building coverage of only 13 per cent, will be keenly sought after.

The site is rectangular and flat. There are two buildings, with four tenants providing a net income of $200,000 per annum and outgoings are entirely paid by the tenants, he says.

“A Business 6 Zone is sought-after, providing for heavy industrial uses now. Under Auckland Council’s Unitary Plan the zone is to be designated in the Heavy Industrial category.”

Wilson says that thanks to the just 13 per cent building coverage there’s huge development potential. “At present there is a strong mixture of tenants providing multiple income streams, with market rent reviews in all leases,” he says. “However, when considering future development it’s worth pointing out that with the extension of SH 20 there will be a new link to West Auckland, so the surrounding residential population is projected to grow considerably — great news for any business there.

Buildings on the site comprise a 856.5sq m high-stud warehouse, which Wilson describes as, “in great condition with a minimal office”.

Council rates are $15,950, insurance $5,425 and the GV is $2,400,000.

The property is at the southern end of Victoria St which runs north to south. The boundary is 150m from Neilson St; about 1km from the SH20 on-and-off ramps and 3.6km from the SH1 on-and-off ramps.

“It’s absolutely a prime location in terms of fringe city industrial property, ideally positioned between Auckland CBD and Auckland International Airport,” says Wilson.

“This location will be positively impacted by big infrastructure projects currently underway, which are set to dramatically improve access from Auckland’s western suburbs.”