Strategic industrial site has water view
The industrial site for sale at 26 Jomac Place, Avondale – identified by a red border.
A large, fully serviced and developable industrial site is being offered for sale just off the Rosebank Rd arterial route in Avondale.
“This site is in a subdivision comprising the last piece of developable greenfield land on the Rosebank peninsular,” says Luke McGill, industrial sales and leasing specialist at JLL, who with colleague Sam Smith, is marketing the site via an expressions of interest campaign on behalf of owner and developer Jomac Property.
“It is also likely this will be the last piece of land to be released on Jomac Place itself before the development of surrounding sites commences,” says McGill
The Jomac Place site is zoned Business Five under the Proposed Auckland Unitary Plan allowing for manufacturing, production, logistics, storage and distribution activities.
McGill says the 7742 sq m of fully serviced subdivided land is an ideal purchase for an investor or developer.
“The new owner has a number of construction options for the site including logistics facilities, warehousing, office and ancillary buildings,” he says.
McGill brokered the lease of an adjacent site late last year between Jomac Property and shower and tap wear manufacturer, Methven, which is planning to complete a 5500 sq m warehouse and office facility on its 10,000 sq m site early next year.
Aerial view 26 Jomac Place, Avondale, with Auckland skyline in background.
Jomac Property is building a 2200 sq m warehouse, also on a site neighbouring 26 Jomac Place. Scheduled for completion mid-2016 this complex is for Thorn Lighting, a global supplier of outdoor and indoor lighting products.
Smith says the land for sale is surrounded by a number of other well known industrial businesses including Southern Spars, Bon Accord and Regal Beloit.
“Avondale has previously been viewed as an outlying industrial precinct, but the completion of the Waterview tunnel, set for late next year, will see this area very well connected to the North Shore and Auckland airport. This is likely to further strengthen a positive market perception of this popular industrial precinct as a strategic hub,” says Smith.
He says that compared with other major industrial precincts the Rosebank Peninsula is close to Auckland’s CBD.
“As the Waterview Tunnel project has progressed, we have seen a significant increase in the level of interest in industrial property in Avondale triggering higher levels of market turnover,” Smith says.
According to JLL Research, vacancy in the Rosebank precinct sat at 5.6 per cent in June 2013 but has now fallen to 2.3 per cent.
“Over the same period rents for industrial space in the Auckland region have grown 16.4 per cent,” Smith says. “There is a huge amount of activity going on in west Auckland including the northwestern retail development at Westgate and the construction of more than 5000 houses over the next 10 years which is set to intensify and transform an area that was previously farmland.”
Sam Luke (left) & Luke McGill (right) of JLL.