Warehouses could suit redevelopment

2:53 PM Friday November 3, 2017 True Commercial

Unit B8 is at the rear of 31-49 Normanby Rd, and B9 on the right – identified by red borders. Photo / Supplied

Industrial units for sale in Mt Eden could suit future residential development, as they fall within a Mixed-Use zone under the Auckland Unitary Plan.

JLL agents Sam Smith, John Binning and Ian Hall are marketing the 1980s freehold units B8 and B9, at 31-49 Normanby Rd which are to be sold by an expressions of interest campaign closing on November 16, unless sold earlier.

  • Unit B8 has a 533sq m warehouse, 205sq m office, 205sq m workshop and 16 carparks.
  • Unit B9 has a 440sq m warehouse, 45sq m office and eight carparks.

“They’re in a prime location and would suit owner-occupiers orinvestment,” says Smith.

“The fact they are inter-connecting allows flexibility in tenancies; they could be leased to one large tenant or split to suit. Put together, the total warehouse space is 973sq m and total office space is 455sq m with 24 carparks, which is substantial space for this popular location.”

Binning says under the zoning a new owner could extend the property to up to four storeys and the option exists for residential development.

“A buyer could purchase one or both properties as they are in the same development on what is a significant site. Industrial opportunities in central Auckland are sought-after, especially by owner-occupiers. This secure property is in good condition and with the amount of parking and the size of facilities on offer it represents a prime opportunity.”

The area has other commercial properties, including warehouse developments inter-mixed with new office buildings. Normanby Rd is a secondary transport route linking Mt Eden Rd with Khyber Pass, a central point for Mt Eden and Newmarket.

“The City Rail Link is moments away and the two units are close to Newmarket, Ponsonby and the CBD, along with being right on the doorstep of major transport routes,” says Smith.