Work is well under way on the first stage of a new business park in Wiri with more than half the industrial units sold ahead of its completion later this year.
Five of 11 new warehouse units under construction at the Wiri Station Business Park, 114 Wiri Station Rd — along with another four units in three existing buildings on the site — have already been sold by Mike Marinkovich and James Hill of Bayleys' Auckland industrial team at a total value of over $10 million.
Marinkovich says purchasers have been a mixture of owner-occupiers and investors. Adjoining units at the front and rear of the new complex have been bought by separate buyers, who will each occupy one unit and rent out the other.
"They see the location as the gateway to both the Southwestern [SH20] and Southern [SH1] motorways and Western Ring Route underpinning the value of the units for both their own businesses and tenants."
Marinkovich says the build, by Robert Cunningham Construction, is well advanced. Concrete flooring, tilt slab walls and roofing are in place and the projected completion for late November is running ahead of schedule.
The two largest corner units in the new 11-unit development have been sold off the plans along with several smaller units. Marinkovich says two size options remain:
• Three 261sq m units — comprising 223sq m of ground-floor space, plus a 38sq m mezzanine which can be used for offices or storage — are available with four car parks.
• Three 206sq m units — with the same amount of mezzanine and 168sq m ground floors, plus three car parks — are also available, although one is under conditional contract.
"This is the only opportunity to buy quality new industrial units over 200sq m in this development, as Stage 2 and 3 of the project will have units that are smaller than this," Marinkovich points out.
"The premises will have bathroom and kitchenette amenities in place on the ground floor with occupants responsible for the fit out of the remainder of the space depending on how they want to use it."
Hill says the units will have attractive frontages and excellent signage opportunities plus roller door access to the 8m warehouse space.
"On the other side of the right-of-way access there will be a common property strip which will contain 15 visitor carparks, a shared container drop off area which can be booked through the body corporate, as well as a designated rubbish recycling and collection area."
Hill says construction of the Stage 2 units will commence shortly and this will consist of five units of 186sq m each; comprising 148sq m of ground floor space, and a 38sq m mezzanine. These units can be purchased now and are very well priced from $655,000.
"A 10 per cent deposit will secure the best positions in the next stages of the development and Bayleys can assist on the leasing side if required prior to settlement."
Completion of Stage 2 is scheduled for May/June, 2019.
The units still available would suit tradespeople, smaller importers or businesses or individuals with storage requirements, says Marinkovich. "There's a shortage of suitable warehousing and workshop premises in South Auckland."