Occupy or invest in Wiri

This freehold office and warehouse complex sits on 8111sq m and has good access to both the Southern and Southwestern motorways. Photo / Supplied

A large freehold office and warehouse complex at 59-63 Druces Rd in Wiri is being marketed for sale or lease by Colliers brokers Paul Higgins and Dwayne Warby with offers closing on June 2.

Offered as an opportunity to occupy or invest, the property with a Business 5 zoning sits on a large 8111sq m site on two titles on the western side of Druces Rd between Kerrs Rd and Earl Richardson Rd.

The total net lettable building area of 4464.2sq m comprises 1207sq m of office space, 3208sq m of warehousing space and a 49sq m canopy.

"This is a large warehousing and distribution facility with separate access for cars and trucks and drive around access on-site," Warby says.

He says the property comprises good-quality premises with a strong street profile for two levels of offices facing Druces Rd and currently generates an annual holding income of $202,542 net plus GST over three separate tenancies.

However, Higgins says the property has the potential for this figure to increase considerably.

"Once fully leased, the property will have a market rental of around $430,000," he says.

The warehouse is currently split into two tenancies with International Flavours and Fragrances occupying 789.4sq m of warehouse and office space on the northern side of the building on a three-year term that began in August 2007.

NZ Warehousing and Distribution occupies 2467.4sq m on the southern side of the building on a three-month rolling lease and the Royal NZ Plunket Society runs its regional operation from a 287sq m office in the building on a three year lease term that began in December 2009 with two three-year rights of renewal taking the final expiry to November 2018.

In addition, the property has vacant office space of 284.6sq m on the ground floor and 635.8sq m on the first floor.

"The property has good access to both the Southern and Southwestern motorways," says Warby. "Both the northbound and southbound ramps to the Southern Motorway are about 2km to the east at the Manukau interchange, while access to the Southwestern Motorway is only 3km to the west, via Roscommon Rd."

Warby says the Wiri area is becoming a popular location for importers and distributors, because of its proximity to SH1 and SH20, Auckland International Airport and the surrounding residential areas of Manukau, Manurewa and Papatoetoe, which provide a wide range of blue- and white-collar workers.

Warby says the 15ha Wiri Inland Port, now under construction, will connect with the national rail network to provide a direct link to the Waitemata seaport, relieving pressure on the roading network.

Higgins says 59 Druces Rd offers good holding income from its large warehouse and offices and is ideal for an owner-occupier looking for a property with multiple tenancies to generate extra income or for investors looking for an add-value opportunity.