New builds alleviate demand
As vacancies in industrial suburbs of Penrose, Onehunga and Mount Wellington reach all-time lows, some property owners are seizing the opportunity to develop industrial and commercial buildings.
A new building at 304 Church Street, Penrose — now offered for lease by Damon Wyllie and David Arlidge of Knight Frank — is a recent case in point.
“Spec built by the owner, it’s a modern standalone industrial building in the 800-1,200 sq m size bracket,” Wyllie says.
“It has a commanding and elevated position over Church Street, offering excellent exposure for signage seen by a high daily traffic count.”
The complex has been developed by A & D Ben Limited, an established industrial landlord and developer in the Penrose and Onehunga industrial basin. “This private developer has an impressive 30-year-track record building and buying industrial property in the Penrose area and surrounding precincts,” Wyllie adds.
The building comprises a clear span warehouse of 612 sq m and is complemented by a fully enclosed truck bay that supports all weather container and truck operations.
“The enclosed canopy is an extension of the warehouse and provides a tenant with multiple options including overflow warehousing, cross docking, operations staging and additional parking,” Wyllie says.
“The warehouse area has a stud height rising to eight metres, providing excellent capacity for efficient racking. There’s extensive glazing at the front of this area, providing excellent natural light levels into the warehouse.”
David Arlidge says as Auckland expands north and south, the Penrose area remains strategic for businesses wanting a central position to service their customer base.
“The new Waterview Tunnel link on the South Western motorway will allow efficient access to the west and north.”
“These new builds are helping to rejuvenate the area; new developments are replacing older buildings in-efficient in today’s economic environment.”
“Aucklanders need employment close to where they live.”