Following a decision by south Auckland manufacturer Laminex to vacate its Papakura property, several businesses are showing interest in leasing space there.
Nigel Ingham of Commercial Realty and colleague Mark Bramwell, are marketing space-to-lease in the sprawling 17,154sq m complex, at 40-52 Hunua Rd.
"We are close to signing deals with a couple of occupiers already and in discussions with several others," Ingham says.
"Businesses are attracted to the complex's location as well as the cost-effective nature and flexible size of the units on offer."
Papakura has been identified as a key growth area for Auckland and the locality offers great access to the airport and destinations further south, he points out.
"Good transport links mean Papakura is in high demand as an industrial, trade retail and service hub. This facility, which offers a big variety of unit sizes and layouts at an affordable rental, is a compelling package in a great location and we're receiving a lot of inquiries as a result."
The complex is made up of several warehouses, factory areas, workshops and storage space. It also has plenty of external yard, offices and even a laboratory if prospective tenants need it.
Spaces on offer range from 500sq m units ideal for smaller businesses, right up to a possible 17,154sq m lease covering several high and low-stud warehouses, offices, storage areas, canopies and a staff canteen, says Bramwell.
"The owner is keen to work with prospective tenants and come up with a solution that suits their needs, whether that involves splitting existing factory or warehouse areas or combining several spaces into one tenancy. The large yard area also offers space for development."
The property will suit businesses looking for well-priced industrial space in a market where supply constraints are resulting in rental increases, says Ingham.
"Compared to rents in other industrial precincts in South Auckland - such as Manukau, East Tamaki and Penrose - this facility is very well priced. Not every business needs new, high-stud industrial space, or is willing to pay for it."
The property therefore offers an attractive and flexible alternative in a market that is broadly characterised by high demand, restricted supply and increasing rents, Bramwell says.
"The asking rents at this property are probably the most affordable in the current market, and the landlord is also willing to offer flexible lease terms."
Given the increase in the number of houses being built in Papakura and further south, the property would suit businesses providing products or services to the construction industry, Ingham says. Warehousing and storage users have also been showing interest in the spaces on offer.
The original owners of the property were Mr. A. G. Norman, managing director of Thomas de la Rue and Co and G.G. Riddick, managing director of Formica International Ltd. The Englishmen produced bank notes and postage stamps for New Zealand at a plant in the UK.
The Hunua Rd factory was originally built to accommodate their Formica business in New Zealand. The property has also been used for agricultural purposes.
The 50,360sq m industrial-zoned site provides established infrastructure, including significant power capacity and a consented water bore.
It is located among established industrial neighbours, including Griffins and Winstone Aggregates. The property is also well-placed to access transport networks, with the Papakura interchange to the State Highway 1 Southern Motorway nearby.