Otahuhu warehouse ideal for owner-occupiers

5:00 AM Saturday August 12, 2017 True Commercial

The warehouse for sale at 17 Salesyards Rd, Otahuhu, is roughly defined by a blue border. Photo / Supplied

A versatile warehouse for sale in Auckland’s sought-after Otahuhu industrial precinct is being marketed as an ideal investment for owner-occupiers.

Colliers International has been exclusively appointed to market 17 Saleyards Rd for sale by deadline private treaty closing at 4pm on Tuesday, August 29 unless sold earlier by negotiation.

The 6807sq m property is on a short one-year lease, giving owner-occupiers a holding income of $430,000 net while they prepare to move in.

Colliers’ industrial sales and leasing director Ben Herlihy, who is marketing the property with colleagues Hamish West and Andrew Hooper, says the sale represents, “a superb chance to secure a functional warehouse in a great location with imminent vacant possession.

“Situated close to the Mt Wellington industrial precinct, the property is ideally located for logistics and distribution activities, among other uses.”

Hooper says the property comprises an industrial building with a net lettable area of 3462sq m excluding a substantial 1337.5sq m canopy.

“It’s a highly versatile property thanks to its high-stud warehouse, drive-through canopy and dual road access,” he says.

“Two levels of office and amenities are partially located within the warehouse envelope, providing an easy connection between office and warehouse staff.”

The building, constructed in the 1980s, has 1989.4sq m of warehouse space with a stud height of 7.5m from the portal knee. An additional 586.4sq m chiller and 512sq m freezer were added in 2010.

The office area, modified in 1996, covers 378.9sq m in total. The plant room occupies a modest 23.4sq m.

Hooper says access to the warehouse is via the extensive canopy.

“Trucks can enter the property from Portage Rd and drive through to Saleyards Rd, while cars can access the property via Saleyards Rd.”

The property is leased to Service Foods Limited on a term of 12 months from settlement, with annual 3 per cent increases, and two three-month rights of renewal.

West says the property is zoned Light Industry under the Auckland Unitary Plan.

“It is superbly located within tightly held Otahuhu, in an area is experiencing significant development by the likes of Southpark and James Kirkpatrick Group.

“The East West Link is likely to bring even further development to the area, as ease of access improves substantially.”

The proposed East West Link is a priority project of the New Zealand Transport Agency (NZTA).

It will create a new four-lane road between the Onehunga interchange with State Highway 20 and the Mount Wellington interchange with SH1, greatly improving links between the east and west of the city and the wider region.

Resource consent for the project is being considered by a Board of Inquiry, and NZTA hopes construction will start next year.

West says the Saleyards Rd property is located conveniently between the Southern SH1 and Southwestern SH20 motorways.

“It is a mere five minutes from the Southern Motorway interchange at Mount Wellington,” he says.

“The Southwestern Motorway, about 2.5km to the east, links the Southern Motorway at Manukau City through to Auckland International Airport.

“The motorway extends west through the newly opened Waterview Tunnel, which connects with the Northwestern Motorway [SH16].

“This new link provides an alternative route to the CBD and Ports of Auckland, as well as Auckland’s fast-growing western and northern suburbs.”

West says the property is also situated near the major transport routes of Mount Wellington Highway and Great South Rd, also known as the Southern Corridor, giving it great access to local amenities.

“Seldom do properties in such a great location become available to owner occupiers,” West says.