Freehold Penrose complex on market

A two-level Penrose office block, constructed in 1948 in an art deco style and extensively renovated nine years ago with a high stud clear-span factory and warehouse attached to the rear, is being offered for sale or lease with vacant possession.

The freehold complex at 926 Great South Rd is being marketed via expressions of interest closing at 4pm on Friday, November 20, by Bill Carlson and Mark Peterson of Barfoot & Thompson Commercial.

"The property is an industrial site of 4856sq m, with a two-storey renovated showroom, office and amenities block, plus a near-new high stud factory with a total building area of about 2700sq m and basement storage," Carlson says.

"The site is rectangular with a frontage of 40.23m to Great South Rd, and a depth of 120.70m, with the contour rising gently from the road. It has a concreted rear yard of around 1200sq m."

The main areas comprise a 360sq m showroom and office, a 150.70sq m warehouse and office, and another 2189.50sq m warehouse. In addition, there is a basement storage area of 428sq m and a canopy of 73.2sq m.

"The warehouse or factory area was built in 2003, with a stud height of about seven metres and has reinforced concrete foundations, a concrete slab floor," Peterson says. "The walls are predominantly precast concrete panels with the rear wall having a 2.4m precast concrete nib wall, with colour steel cladding above.

"The structure is supported by portal steel frames, with a gable colour steel roof supported on steel purlins. Eight rows of clear roofing strips provide good natural light complemented by high-density pendant electric lighting."

The loading canopy is on the southern side of the building, which extends across to the boundary, and is supported on a precast concrete wall, while the rear concrete yard is accessed by a concrete driveway down the southern side of the building. The yard extends across the full 40m width of the site and has a depth of about 30m. The front offices are constructed with plastered concrete walls with a mix of new aluminium and existing timber frame windows, concrete and timber tongue-and-grove flooring, plasterboard linings, suspended ceilings and a steel roof.

Carlson says the building had new water, power and drainage systems fitted and the offices are carpeted, while the service areas have vinyl flooring.

"The office premises are also airconditioned."

Under part of the building, and also accessed from the southern side, is the basement storage area with concrete floor, steel beams over and internal concrete columns. It has a main area of 388sq m with a height of 2.1m and another area of 40sq m with a height of 1.6m.

"It would ideally suit industrial tenants, owner-occupiers, private and corporate investors," Carlson says. Peterson says the property is zoned Business Activity 5 under the Auckland City District Plan Operative 1999.

"Permitted activities include bulk stores, commercial or public car parking area, community welfare facilities, healthcare services, industrial uses, motor vehicle sales and service premises, offices, residential accommodation for persons whose duties require them to live on site, restaurants, cafes and other eating places, retail premises, taverns, towing services, transport depots, warehousing and storage, and workrooms."

The property is on the northeastern side of Great South Rd, 40m southeast of the intersection of the southeastern highway.

"This industrial area has been recognised as the largest established manufacturing base in suburban Auckland," Peterson says. "However more recently, there has been a shifting emphasis towards distribution and trade retail-based activities."

The general location is at the southern end of Penrose within easy distance of commercial facilities at Ellerslie, Onehunga, Mt Wellington and Otahuhu.