Industrial properties have potential for various uses

5:00 AM Saturday May 7, 2016 Paul Charman

72 Onehunga Mall, Onehunga.

Even in a tight commercial property market, investments likely to appeal to discerning investors still come to light, as two offerings from Barfoot & Thompson Commercial show.

The properties — at 72 Onehunga Mall, Onehunga, and 67 O’Rorke Rd, Penrose — are being sold by agents James Marshall and Brennan Wyllie.

72 Onehunga Mall, which is for sale by deadline private treaty closing on May 25, is a mixed-use site with future redevelopment potential, says Wyllie.

Offered with vacant possession, it features elevated views across Gloucester Park and the Manukau Harbour.

This property comprises a 1177sq m freehold parcel of land with more than 44m of frontage on the Mall.

67 O'Rourke Rd Penrose01jpg.jpg

Built in the 1980s, the building has a floor area of about 598sq m over four levels. It was recently occupied by an educational provider.

“Close to Onehunga's main retail centre and train station, the building offers versatility for a range of businesses. Given the flexibility mixed-use zoning allows for, the area has undergone transformation in recent years with a trend towards development of residential apartment buildings and lower-intensity commercial use,” says Marshall.

“This property represents a unique offering that will suit investors, owner-occupiers, developers and land bankers.”

Key features include:
* 598sq m commercial building on 1177sq m site

* Zoned Mixed Use

* Main road frontage

* Elevated property with extensive views

* Substantial on-site car parking at front and rear

* Future redevelopment potential

67 O'Rorke Rd is for sale by auction on May 26, at 34 Shortland St.

This standalone property is located on one of the best streets in Penrose, Marshall points out.

“Situated on the eastern boundary of Mt Smart Stadium, it has excellent street profile and signage exposure on O'Rorke Rd.”

The property has a freehold land area of 759sq m which is zoned Business Activity 5 under the Auckland City Isthmus, he says. The location is sought after for its proximity to major roading networks, CBD and airport.

The building offers an ideal mix of high-stud warehouse and modern office space over two levels.

“It provides good versatility and will suit a wide range of business activities making it an attractive investment proposition for both owner occupiers and investors,” says Wyllie.

Key features include

  • Floor area of about 678sq m
  • 759sq m freehold land area with Business Activity 5 zoning
  • High-stud clear span warehouse with plentiful natural light
  • Air-conditioned office and showroom space over two levels
  • Storage mezzanine maximises space