Large Onehunga manufacturing or development site

5:00 AM Saturday September 26, 2015 Colin Taylor

The two big adjacent industrial properties for sale at 64 Victoria St and 11 Spring St, Onehunga.

A large,1.29 hectare site comprising two, adjacent, freehold title properties has come to market in the Auckland industrial hub of Onehunga. 

“This is a versatile site with lucrative options for both occupiers and developers,” says Ben Herlihy, who, along with colleagues Hamish West and Chris Palmer of Colliers International, is marketing the properties at 64 Victoria St and 11 Spring St, Onehunga, Auckland. They are for sale individually or together by deadline private treaty closing 4 pm, Thursday October 8, unless sold earlier by negotiation.

“With its current set up as a manufacturing facility, it would be a seamless transition for the properties to continue operating in a similar capacity,” Herlihy says. “Alternatively, the sheer size of the site presents a huge land holding opportunity for developers, particularly with its potential residential possibilities.

“Under the Proposed Auckland Unitary Plan both properties will be designated Mixed Use. This is intended to revitalise the area by promoting a diverse assortment of residential, business, educational and leisure uses within the vicinity.  

“Onehunga is an area Auckland Council’s identified for urban intensification, and this site could certainly accommodate future residential development.”

The property’s leased to Compac, a New Zealand owned company exporting fruit-sorting equipment and technology to 40 countries worldwide, and new owners will have the option to purchase the property with vacant possession or with temporary holding income. 

West says the current tenant has committed to move elsewhere but is willing to stay on a short term leaseback arrangement. “This could provide developers with useful holding income while they undertake development and planning permission.”

He says the property is well suited to manufacturers seeking a central site. It has two large warehousing bays totalling 3256 sq m with roller doors at either end.

“Onehunga is also a very convenient, central location between multiple industrial and business centres – especially for distribution operations.” 

64 Victoria St, Onehunga - aerial with red line boundary.jpg

Aerial view of the two big adjoining Onehunga industrial properties for sale – marked by red border. 

The two properties occupy an entire block and have dual street frontages onto Victoria Street and Spring Street as well as drive through access. 

Number 64 Victoria Street is the larger of the two properties with a total building area of 4797 sq m on a 7697 sq m site.  It includes an office and staff amenities area as well as a warehouse with mezzanine storage. 

The Spring Street property includes an office and warehouse and a secondary staff office with amenities totalling 2398 sq m on a 5211 sq m site.  An outdoor, green courtyard used as leisure space for staff is in the centre of the main building. 

Palmer says the location is just a brief walk from Onehunga Town Centre and Dressmart.

“It has excellent rail access and a continually improving motorway system making Onehunga within easy reach of Auckland’s CBD which is contributing to the area’s significant regeneration.

“Completion of the Waterview Tunnel which will connect the southwestern State Highway 20 motorway with West Auckland and North Shore will further benefit the area’s desirability to businesses and residential developers..” 

The State Highway One and the southeastern motorway interchange are about two kilometres east of the properties while State Highway 20 is easily accessed from nearby Neilson Avenue.  

Ben, Hamish.jpg (1)

Ben Herlihy, (left) and Hamish West, (right) Colliers International. 

 

For more information on this property visit:

TrueCommercial.co.nz