Valuable site was land-banked

By True Commercial

The vacant land at 16 Rupeke Place, Henderson. Photo / Supplied
The vacant land at 16 Rupeke Place, Henderson. Photo / Supplied

One of the last undeveloped big "greenfields" industrial sites in West Auckland is for sale, offering an opportunity for an occupier or developer.

The 1.5277ha of vacant land at 16 Rupeke Place, Henderson, is for tender through Bayleys Real Estate, on behalf of a neighbouring property owner-occupier, who has held the property for more than 30 years.

"With advances in technology in their business, they have now decided they won't be requiring any additional land in the foreseeable future. They have instructed us to sell, opening up a very big development opportunity for someone else," says Bayleys Auckland's Stephen Scott who is marketing the site with Bayleys West Auckland sales manager Mike Adams.

Tenders for the property, featured in Bayleys' latest Total Property portfolio, close on March 29, unless it is sold earlier by negotiation. "This is a very significant land holding in Henderson's well-established Keeling Rd industrial precinct," says Scott.

"It comes on the market at a very opportune time, with industrial vacancy rates at a low level and little land of this size available with such good access to central Auckland. The offering also coincides with major motorway improvements, spearheaded by the soon-to-be opened Western Ring route, which will enhance Henderson's connectivity with Auckland International Airport and South Auckland."

Adams says the site will appeal to a large business occupier looking for a substantial site to build to their requirements and retain control of their property, or possibly sell at a later stage with a long lease back. Alternatively, it could offer a variety of options for a developer or add-value investor. "They could obtain all the necessary consents for a subdivision of the land, put roading access and utility services in place and then sell individual titles off to smaller owner-occupiers or other developers. They could also offer one or more design-build packages to tenants."

The property is located at the end of Rupeke Place, a short cul-de-sac that provides access to a number of industrial properties, says Adams. "Rupeke Rd is accessed from Keeling Rd, which runs off Henderson Valley Rd, a main arterial in this location.

"There are a variety of established business occupiers in the vicinity, such as Jarvis Engineering Technologies, a market leader in the design and manufacture of specialised meat processing machinery, and Huhtamaki, global specialists in food-and-beverage packaging.

"There is easy access to central Henderson's commercial and retail precinct and neighbouring residential suburbs offer a good potential labour force, including warehouse and factory workers some of whom are currently having to travel to other parts of Auckland to secure employment."

The property is zoned Business-Light Industry under the Auckland Unitary Plan. Activities permitted include manufacturing, production, logistics, storage, transport and distribution activities as well as food and beverage outlets up to 120sq m. Scott says the property is being sold subject to a boundary realignment and final measure and issue of a new title, which the owners are undertaking with the relevant authorities.

- NZ Herald

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