'Industrial workhorse' with a wide range of uses

By Colin Taylor

Gint's Yard would be suitable for a business or redevelopment, the agents say.
Gint's Yard would be suitable for a business or redevelopment, the agents say.

Gint's Yard, a long and low level warehouse property with a small office at 643 Great South Rd in the industrial suburb of Penrose, is being marketed for sale with vacant possession as an ideal property for an industrial owner occupier

Ben Herlihy and Todd Kuzmich of Colliers International are selling the 2542sq m building on 5306sq m freehold site, by deadline private treaty closing on October 25, unless it sells before that date.

Herlihy said the property had been occupied by Fletcher's joinery division for 15 years, and the lease expires in November.

"Vacant possession presents the opportunity for an owner occupier to move in and benefit by purchasing an affordable, functional industrial property in a prime location."

He said large efficient industrial buildings with only a small office space were popular with occupiers as they enable users to keep their cost down.

"This is a solid industrial workhorse, and will be sought after by users seeking a cost efficient and functional property solution," he said.

Kuzmich said the office and warehouse building was constructed in the 1980s and provided a simple "plain vanilla" industrial facility which was readily adaptable to a wide variety of uses.

"The building has an extremely low office to warehouse ratio and a rectangular configuration, making it very flexible and suitable for a range of businesses. We see it appealing to distributors seeking affordable warehousing."

Because of its heavy duty power supply, it would also be suitable fora manufacturing business.

The building comprises a 2364sq m warehouse with four roller doors and a 5.6 metre stud at the portal knee; 93sq m of office areas and 85sq m of mezzanine space. \

Herlihy said the property's yard could be extended into neighbouring vacant land, doubling its size and providing a total property size of around one hectare,

"With the possibility of extending the yard, we expect to receive interest in this property from utility companies, recyclers, businesses with a substantial fleet and other operators which require big yard areas for vehicle movements or container storage."

Kuzmich believes Gint's Yard also presents a development opportunity.

"The building could be split into three office and warehouse units of around 900sq m each, including two-level offices.

"There is certainly demand in the industrial market from owner occupiers trying to take advantage of current lending conditions and secure their own premises, so splitting the property into smaller units could make an attractive add-value opportunity."

Fletcher would be carrying out remedial works which would bring the property up to a high standard of presentation, he said.

The property is located between another Fletcher property and the Downer EDI bitumen plant on Business 5 zoned land, allowing for a wide range of commercial and industrial activities.

Herlihy said 643 Great South Rd was in the heart of Penrose, to which industrial business were attracted by the suburb's arterial roads and motorways, giving easy access to the port and airport.

- NZ Herald

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