Rare head office and warehouse in Penrose
Elevated front view of office and warehouse property at 17 Maurice Rd, Penrose.
A big high quality office and warehouse building is for sale or lease in Penrose, at a time when vacancy levels are at an all-time low.
“The property is located between Station Rd and Church St in the centre of this popular industrial area,” says Ben Herlihy of Colliers International who, with colleague Hamish West, is marketing 17 Maurice Rd for sale or lease with offers closing on October 1.
The property is owned by an investor whose engineering firm occupied the property some years ago.
It is currently home to SGS Laboratories, a multi-national corporation which employs over 80,000 people, but which is now relocating.
“SGS has operated its New Zealand head office, warehouse and laboratory at this location for over 20 years,” Herlihy says. “With the company moving on to another property with a bigger premises, the Maurice Rd site is either offered for sale with vacant possession or for lease to a new tenant.”
He says the 2250 sq m, standalone office and warehouse building offers modern, corporate-grade office space and amenities over two levels. “The office space offers very good value, at around half the occupancy cost of the nearby Greenlane corridor and far below CBD rates.”
The 750 sq m, medium stud warehouse is accessed via roller doors and a large yard of about 2500 sq m with a parking area providing convenient access for customers and visitors.
“Although the property is already presented in very good condition, the owner is willing to refurbish the building if required by a new tenant,” Herlihy says. “The building’s configuration could also easily be altered to suit the requirements of the incoming occupier.
“The ground floor could be opened up to form a mix of technical or assembly space, further office or medium stud warehousing. This means the property offers great flexibility, with the underlying Business 5 zoning also providing for a wide range of commercial uses.”
West says prime industrial vacancy in Penrose was reported at zero according to a Colliers International February 2015 survey.
“Owner occupiers and tenants are keenly pursuing the very few opportunities to move to the area which become available,” he says.
“There is a critical scarcity of high-quality industrial premises available in Penrose and the situation is no better in Mt Wellington and Onehunga. This is forcing businesses to either postpone their plans to move, or look further afield to suburbs like East Tamaki, Wiri and West Auckland.”
Herlihy says the extremely limited supply of property in Penrose usually results in quality large properties suitable for use as a national headquarters being taken up quickly when they come on the market.
West says inquiries are expected from investors as well as owner occupiers and tenants. “The scarcity of property in Penrose means investors are on the hunt for premises here, confident they will be able to secure a tenant if the right fundamentals are in place like a prime location and a high-quality building.”
“The property’s offices, warehouse, technical space and large yard make it ideally suited to a wide range of businesses in sectors such as technical services, refrigeration, security, assembly and scientific testing.”
Elevated rear view of the Maurice Rd office and warehouse property.
West says the freehold 6392 sq m site with a wide frontage on a busy local thoroughfare, offers excellent brand exposure.
“One of the key attractions of the site is its transport links for staff and clients. The Penrose train station is only a five minute walk away and the property is also close to the Penrose on-ramp to the southern section of the State Highway One motorway via major arterial routes.
“Church St links directly to the motorway just five minutes from the property. State Highway 20 is also less than 10 minutes’ travelling time to the west, providing access to the airport and will soon provide easy access to West Auckland with the completion of the Waterview tunnel and connection to State Highway 16.
“This access, along with the excellent onsite parking and yard area, will add to the property’s appeal to companies that have a large workforce,” West says.
“Transit connections in the area are also under Auckland Council scrutiny, with Auckland Transport considering an east-west connections proposal to connect the southern motorway with the southwestern motorway through the Penrose-Onehunga area.
“This project aims to address congestion and improve travel times and reliability of journeys between business in the industrial area of Onehunga-Penrose and the two motorways.”
Ben Herlihy, (left) & Hamish West (right) of Colliers International.
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