Tunnel vision benefits business park
An artist’s impression of the planned Wiri Station Business Park at 114 Wiri Station Rd, Wiri. Photo / Supplied
The opening of Auckland’s Waterview tunnel and the associated completion of the 48km Western Ring Route network of connected motorways, are being promoted as major selling features of a new business park to be developed in Wiri.
Stage 1 of the Wiri Station Business Park, to be built at 114 Wiri Station Rd, has been launched in Bayleys’ latest Total Property portfolio, with 11 industrial units for sale having asking prices ranging from $799,692 to $1,799,920.
Mike Marinkovich and James Hill of Bayleys’ Auckland industrial team have been appointed sole agents to market the units.
The offering comprises two larger units of 495sq m and 360sq m with showroom space; four units of 261sq m; and a further five units of 206sq m, scheduled for completion in April next year.
Wiri Station Business Park will have a total of 30 units positioned on a 1.6094ha landscaped site within a secure gated complex.
“Because of its ease of access to the Southern and South-Western Motorways, Wiri has become the preferred location for many occupiers and this has been further enhanced by the opening of the Waterview Tunnel,” says Marinkovich. “This means Wiri now sits at the gateway to the completed Western Ring Route which provides an alternative route to increasingly congested State Highway 1 to the Auckland CBD and port, West Auckland and the North Shore.”
Wiri Station Business Park is about 650m from the South-Western Motorway Interchange (SH20), the starting point to the Western Ring Route. It provides access to the airport and, via the Waterview tunnel, to SH16 (the North-Western motorway) and SH18 (the Upper Harbour Highway) which exits at Albany.
The business park is also about 1.9kms from the SH1 Interchange, which will still provide the main connection south, and is close to the Wiri Inland Container Terminal and the Manukau CBD.
Hill says the units to be built in Stage 1 of the Wiri Station Business Park will have an appealing frontage including substantial glazing as well as providing excellent signage opportunities. Each will have an allocated number of parallel carparks and roller door access at the front.
“On the other side of the right-of-way access there will be a common property strip which will contain 15 visitor carparks; a shared container drop-off area which can be booked through the body corporate; as well as a designated rubbish recycling and collection area.”
Wiri Station Business Park will sit at the gateway to the completed West Ring Route motorway system. Photo / Artist’s concept
The largest 495sq m unit is a standalone building which has an additional roller door located on the side off its own yard area. It has been designed with a 124sq m ground floor showroom with same amount of the office space above and 247sq m of high-stud warehousing. It has an asking price of $1,799,920.
The other end unit of 360sq m has 190sq m of warehousing with the balance split between showroom and office and a price tag of $1,395,000.
“These two larger units would suit a wide range of enterprises, particularly a trade wholesaler or another type of business requiring some showroom exposure for their products or services,” says Hill.
The four 261sq m units have 223sq m of warehousing and a 38sq m mezzanine that could be used for office or storage, says Hill. They have an asking price of $992,061. The five smaller 206sq m units have the same amount of mezzanine plus 168sq m of warehouse and are priced at $799,692.
These units would suit trades people, smaller importers or businesses with storage requirements, says Marinkovich. “There is a real shortage of suitable warehousing and workshop premises in South Auckland for tradespeople such as electricians, plumbers and smaller builders and we are expecting strong interest from this sector in particular.
The area to be developed into the business park is indicated in this aerial view by a red border. Photo / Supplied
“Given the current very low vacancy rates for modern industrial premises, particularly smaller units, they are also likely to attract interest from investors. There is a level of frustration at the lack of good quality tenanted industrial investment properties available for purchase at present so some investors are happy to purchase vacant new premises off the plan They know that there is a strong possibility that they will be leased up by the time they are finished given the strong level of leasing demand in the market,” says Marinkovich.
“A deposit of five per cent will secure the best positions in this limited opportunity in a very strategic growth location and Bayleys can assist on the leasing side if required prior to settlement.”
Hill says it could also be possible to have the internal configuration adapted to suit particular requirements where owner-occupiers purchase early off the plans.
Three existing buildings on the site will be subdivided and incorporated into the next stage of the development or they could be sold to buyers looking to acquire a larger building either vacant or with a lease in place, says Hill.
“One of these modern buildings which is vacant will be split into two units of 385sq m each and these units are available now at $1,078,000 for buyers looking for good value in the current market. The other two buildings are currently tenanted but have leases up for renewal later this year or early 2018 and will suit investors or owner occupiers looking for a bigger building.”
Mike Marinkovich and James Hill of Bayleys