Big Airport site with holding income

The 5.432ha property at 530 Oruarangi Rd is leased by a greenhouse facility on a temporary lease. Photo / Supplied

A substantial industrial property with holding income is for sale in Auckland Airport's sought-after logistics and distribution precinct.

The 5.432ha property at 530 Oruarangi Rd is for sale by deadline private treaty, closing at 4pm on October 11, unless it sells earlier.

Colliers International's industrial specialists Paul Jarvie and Ash Vincent are marketing the property on a joint sole agency with Marco Mannah of RCG Realty.

Jarvie says the property is tenanted by a substantial greenhouse facility on a temporary lease earning $225,000 plus GST in net annual holding income.

"The site is for sale as bare land, providing an array of opportunities for developers and occupiers alike," he says.

"Light Industry zoning makes the site ideal for a range of uses including manufacturing, production, logistics, storage, transport and distribution.

"Owner-occupiers will be able to take vacant possession of a substantial site that is suitable for land or yard-based use.

"Meanwhile, developers will be attracted to strong demand from tenants and purchasers for quality modern facilities in the proven Auckland Airport industrial precinct."

Mannah says the site is superbly situated just minutes from Auckland Airport's domestic and international terminals, offering excellent access to key markets.

"The property offers excellent transport links to the wider Auckland region via State Highway 20A.

"Oruarangi Road connects up with SH20A via Ihumatao Road to the south and Kirkbride Road, via Ascot Road, to the north.

"Recent upgrades to the motorway network around the airport have made the area even more accessible."

Vincent says the property is located within a new industrial estate that is directly connected to Auckland International Airport's new world-class industrial precinct, The Landing.

"A number of medium-to-large-format industrial buildings are located nearby, with tenants including Sistema, Air New Zealand, Bunnings, DHL and many other logistics and transport operators."

The site for sale is generally of regular shape and level contour.

It offers good profile to Oruarangi Rd, with approximately 160m of road frontage.

Wastewater and stormwater connections are already in place on the site, making it ready for development.

The property is zoned Light Industry, which allows for industrial activities that do not generate objectionable odour, dust or noise.

The site could be subdivided into 14 to 15 lots with a minimum size of 2,000sq m.

There is also scope to apply for a change of use for short-stay accommodation purposes. Existing height controls would allow for development of up to three storeys.

Auckland's overall industrial vacancy rate has remained extremely low over the past 12 months.

Combined with growing rental expectations and a lack of stock for sale, this has helped to drive prime industrial yields to record low levels.