Rare big industrial ready for new occupier

5:00 AM Saturday November 29, 2014 Colin Taylor

The industrial property for sale at 18 Cryers Rd, East Tamaki identified by red border.

A large East Tamaki landholding and warehouse, which previously housed one of Steel and Tubes divisions, is being offered for sale with vacant possession on a market where similar offerings have become scarce.

The property at 18 Cryers Rd is being marketed by Greg Goldfinch and Paul Higgins of Colliers International in conjunction with Shane Snijder and John Bolton of Bayleys, who are offering it for sale by deadline private  treaty closing at 4 pm on Thursday December 11 unless it sells earlier by negotiation.

“The ability to find, let alone buy, land-holdings of this size in this area, has become a rarity,” says Goldfinch.  

He says the 7879 sq m warehouse and office on a 1.5 ha site is ideally suited to distribution or manufacturing and engineering users.

The net lettable area includes 6016 sq m of solid warehousing with steel portal and purlin frames and concrete block walls, long run roofing iron, generous skylights and aluminium joinery.

Office and amenity space is spread over 767 sq m of the ground floor along with 355 sq m on the mezzanine level where a storage area of 252 sq m is also available. The premises has a 4.5 m to six metre stud, an A-plus seismic rating and full fire sprinkler facilities

An extensive 489 sq m drive-through canopy area leads out to a large 2831 sq m fenced yard that is ideal for truck and fleet movement with its dual entrance to Cryers Rd and Stonedon Rd.

“We expect a high level of interest from owner occupiers looking to secure their footprint and future in this popular industrial precinct,” Goldfinch says.

Higgins believes thatm given the current market conditions, astute investors will also be attracted to the Business 5 zoned property despite its vacant possession. “A record low industrial vacancy rate in Auckland of just 2.9 per cent should allow a rental income stream to be realised reasonably quickly,” he says.

“There is plenty of demand for long tenancies in this area so even a short term lease would provide new owners with a holding income while they consider possibilities to either split up the large site for multiple tenants, or look to add value through refurbishment.”

Bolton says current market figures suggest rental income for similar properties would be in the $680,000 net per annum range.

“Cryers Road is a main arterial road that extends through to Harris Road to the east and Highbrook Drive to the west, providing access to the surrounding industrial area and connecting up to the Highbrook State Highway One motorway connection.”

Nearby Ti Rakau Drive forms part of the eastern arterial route to connect with the Auckland CBD.  “The locality is less than 10 minutes’ normal driving time from Manukau City Centre and is adjacent to the rapidly expanding urban area of Howick,” Bolton says.

Higgins says East Tamaki also offers convenient access to a diverse workplace pool close to a range of expanding residential catchments.

“We are seeing a lot of new office tenants moving in to serve the growing residential population,” he says.  

“In recent years the area has upgraded, as heavy manufacturing facilities have been replaced by lighter industrial activity like transport, logistics and warehousing.”  

Higgins says East Tamaki is Auckland’s most concentrated industrial zone with more than 2000 commercial and industrial businesses. Flag ship occupiers include Big Chill, Cottonsoft, Courier Post, Ford Motor Company and Lion Breweries.