An aerial view of the 2.8ha property for sale at 8 Manu St, Otahuhu - identified by a red border.
An aerial view of the 2.8ha property for sale at 8 Manu St, Otahuhu - identified by a red border.
A significant industrial property with spare land for development zoned Business 6 in Otahuhu has come to market for the first time in 30 years, presenting a number of development opportunities.
The 2.8ha property including warehouses and office space at 8 Manu St, Otahuhu, is for sale with vacant possessionthrough Colliers International with offers closing 4pm, Tuesday April 5 unless sold earlier by negotiation.
Andrew Hooper, Colliers International
"Business 6 zoned land is a scarce resource that seldom comes available for purchase due to its flexible land use options, with provision for almost any activity, including heavier industrial uses," says Colliers' industrial director Andrew Hooper who, with colleagues Hamish West and Todd Kuzmich, is marketing the property.
"Owner occupiers and add-value investors are likely to be attracted to this property due to this zoning, as well as the spare land available for further development, and the location - in a landlocked precinct in the tightly-held, increasingly popular industrial suburb of Otahuhu, where vacancy rates are at all-time lows.
"Demand for Business 6-zoned land such as this is also expected to increase more as zoning changes under the Proposed Auckland Unitary Plan continue to push heavy industrial occupiers into concentrated pockets."
Hamish West, Colliers International
The property comprises 3140sq m of warehouse space, a 1035sq m office/amenity building, 2339 sqm of manufacturing spaces and other buildings, as well as a warehouse canopy area of 454sq m - bringing the total net lettable floor area to 6649sq m, Hooper says.
"The main warehouse boasts a 6.4 metre stud height and would be suitable for a number of potential uses, whereas the smaller warehouse in part has a higher stud - however it quickly descends.
"The office includes both open plan areas and individual offices at the southern end."
To the front of the property sits 1.46ha of bare land which fronts James Fletcher Dr, Hooper says.
Potential development angles for this property include sub-dividing or building on the bare land, as well as demolishing the current properties to construct more modern buildings."
Todd Kuzmich, Colliers International
Another key attribute is the location and proximity to motorways, Kuzmich says.
"Otahuhu is one of Auckland's oldest suburbsand in its position on a narrow section of the Auckland isthmus, is an important part of Auckland's southern transportation approaches for both road and rail.
"It is also considered one of the most cost-effective industrial locations in Auckland that continues to be popular for business that appreciate being close to motorways and the airport."
