Auckland's industrial market is supply-constrained with businesses at capacity and those requiring additional warehouse and logistics space finding few options.
Goodman NZ, however, has new build-to-lease projects which will provide much-needed new supply, says Michael Gimblett, Goodman's General Manager of Development.
Low vacancy levels and a lack of appropriately-zoned development land have caused the shortage and Goodman's own portfolio is nearly full with no vacant warehouses available.
But Goodman's development programme has been accelerated to meet the unprecedented level of demand for warehouse and logistic space across the city.
The programme includes design-build projects for customers who require tailored solutions and build-to-lease developments undertaken on an uncommitted basis.
The build-to-lease projects provide high-quality spaces suitable for a range of new business customers, Gimblett says: "It's a proven strategy with the 15 warehouses developed last year leased before completion or shortly afterwards."
To meet future demand, the new package of build-to-lease projects include:
- Highbrook Crossing Units, Highbrook Business Park, East Tamaki, which is a seven-unit development providing 4,265sq m of warehouse/showroom space on Underwood Street and Business Parade South. There are six adjoining warehouse units, ranging in size from 335sq m to 595sq m with the seventh a standalone 545sq m facility. These are similar to the seven Parade Units, which are located opposite, which were leased before completion late last year and early this year.
- Waiouru Point, Highbrook Business Park, East Tamaki, has two adjoining warehouses overlooking the Tamaki River and alongside the Esplanade reserve on Waiouru Road. These developments provide 1800sq m and 2,012sq m of warehouse and associated office space and are due for completion next November but are available for lease now.
- 70 Plunket Ave, M20 Business Park, Wiri. This development, positioned at the front of M20 Business Park on Plunket Avenue in Manukau, includes a 9,130sq m warehouse together with 500sq m of office space. It is a rare opportunity in a strategic location near the Southern and the South-Western motorways and presents an opportunity to get in early and tailor the plans to suit requirements.
- 14 Timberley, Westney Industry Park, Mangere, is located close to the airport and SH20 and is a development providing 4,970sq m of warehouse and office space. 68 Westney Road, Westney Industry Park, Mangere, is the expansion of an existing facility, providing 7,877sq m of warehouse space and 637sq m of enclosed canopy area. This facility will be available October 2020.
Gimblett says the new facilities on offer will provide customers with another option for their space requirements: "They are of a size and design that is likely to appeal to a wide range of occupiers and we expect them to lease quickly."
Over the next few months, several earlier warehouse projects at Highbrook Business Park and Savill Link in Otahuhu will also be completed.
There are other opportunities within the Goodman portfolio for customers who need well-located distribution facilities. Roma Road Estate in Mt Roskill has warehouse space ranging in size from 5,000sq m to 30,000sq m and these facilities will be refurbished and reconfigured. They are expected to be available early 2021.
Gimblett advises interested parties to get in early to be part of the planning to improve the estate and tailor a solution to meet specific requirements.
For information on any of these opportunities contact: Bruno Warren, development manager, 021 506 010, Bruno.Warren@goodman.com or William Main, development director, 021 583 887, William.Main@goodman.com