For the first time in 50 years, a multi-purpose commercial property has been put on the market in the popular commercial location of Mangere Bridge.
Marketed by Paul Jarvie and Hamish West of Colliers International, the 1.69 hectare property at 8 Kirkbride Rd, Auckland, is for sale by deadline private treaty closing on Thursday October 23.
Jarvie says it's located on the edge of Mangere Bridge's residential area and comes with the added appeal of a sale and lease-back offer from the vendor.
"The property's size, location and existing buildings are likely to appeal equally to owner occupiers and developers, says Jarvie.
"This is a large site adjacent to a large residential area with two very functional existing buildings which would lend themselves readily to a variety of uses," he says.
"We expect to receive inquiries from owner occupiers, as well as developers who may look to take advantage of the underlying residential zoning."
"Alternatively it's attractive to buyers for partial use of the property, who may elect to lease out any remaining buildings or floor area which is surplus to their needs in order to gain an income stream."
West says that, after half a century, the owner occupier is moving on to relocate into a commissioned purpose-built facility.
"The owner is willing to stay on site for at least 12 months paying a net annual rental of $300,000 plus GST, which would give the buyer holding income while considering the property's possibilities."
The net lettable area of the buildings on site is 3812 sq m and includes warehouses, workshops, a large cafeteria and dedicated office facility that have been built at various stages over the years.
The warehouses and a workshop at the rear of the property offer a mix of low to medium stud heights with precast concrete panel walls, long run iron and multiple roller doors. The warehouses comprise 1735 sq m of space and the workshop a further 1553 sq m along with 200 sq m is also available as canopy space around the warehouses.
Ample car parking is available. The full fenced section encompasses two sealed parking areas and a large sealed yard along with an undeveloped portion of land.
Jarvie says church and community groups could be among a variety of potential purchasers. "The property will appeal immediately to church and community groups given that it's very close to large residential areas and has a lot of parking. One of the buildings could also serve ideally as a child-care facility," he says.
"The layout lends itself to being easily opened up and refurbished whatever purpose the buyers may be thinking of."
West says the vendor is also lodging resource consent for a possible 54-dwelling residential development in view of the site's Residential zoning.
"Mangere Bridge has become a highly desirable location for first time home owners, which we believe will attract residential developers to this site to construct a townhouse development. The commercial centre of Mangere Bridge is just a couple of kilometres away and local amenities include the Aviation golf course and driving range; numerous walking tracks, parks and cycle ways.
"The property also has excellent access to Auckland International airport and to the State Highway 20 south western motorway with the Waterview connection now under construction set to improve access to the Auckland CBD from Mangere Bridge on completion," West says.
West says the site's Mixed suburban housing zone is the most widespread residential zone in Auckland and enables two storey housing in a variety of sizes and forms including detached and semi-detached dwellings, town houses, terraced housing and low rise apartments.
"The lifestyle options around Mangere Bridge are some of the most diverse in Auckland. The suburb has its own harbourside village and significant public reserve landmarks with rural aspects a short walk away.
"This is an increasingly developing commercial and residential area that is only a 20 minute drive to Auckland city," says West.