A largely flat and sheltered development site offering excellent access to Auckland Airport has been placed on the market for sale.
The one-hectare freehold property, 586 Oruarangi Rd, Mangere, is being marketed by CBRE and goes to auction at 11am on 31 May 2018.
CBRE’s Director of Industrial & Logistics, Paul Steele, says the vacant property is the last remnant of an undeveloped five-hectare block previously put up for sale in Oruarangi Rd.
“This property will attract the interest because in an extremely tightly held market, it stands out as a prime location for industrial use,” says Steele.
“Due to a lack of supply of suitable land, owner-occupiers have been attracted to this business park from the wider South Auckland area including Wiri, St Johns, Mount Wellington and Penrose.
“It’s easy to see why this site is perfectly located for freight operations, offering as it does an uncongested route via Ihumatao Rd back to state highway 20A.”
Steele notes that future roading plans will connect Oruarangi Rd directly through into Auckland Airport-owned business park; The Landing.”
And he points out that in addition to being close to the airport, the site offers connections to key arterials linking to the motorway network.
“The Western Ring Route via the Waterview Tunnel provides a seamless route to the CBD in the north and also to Hamilton and Tauranga to the south. There’s also great proximity to the Wiri Inland Port and the Metroport.”
Steele describes the property is a predominantly level, with drive-through access to both Te Tiki and Oruarangi Roads.
He says potential subdivision could create a single, or two facilities, both having excellent truck access.
“There’s ample opportunity for purchasers here. Existing plans cater for either one or two occupiers, with buildings of up to 6,700sqm on the site.
“Alternatively, the purchaser could come up with their own designs and vision for the site.
“One thing is certain, whatever improvements are decided upon will form part of an existing high quality-built environment.”
Sistema’s 54,000sqm factory sits on the opposite side of Te Tiki Rd, with neighbouring tenants REM Systems and Top Tranz bordering the property.
“The design of the adjacent properties would provide a purchaser to construct a roofed outdoor passage (breezeway), to protect their operations from the elements.”
The Light Industry, Mangere Gateway sub-precinct B zone under the Auckland Unitary Plan, caters for wide range of activities.
“There’s a 15m height limit in place with the neighbouring new-builds showcasing the type and extent of property that the planning requirements will allow to be constructed, including manufacturing, production, logistics, storage, transport, distribution and yard operations,” says Steele.
CBRE National Director of Industrial & Logistics, Claus Brewer, says lack of availability has limited sales of similar vacant land in the past few years.
“Hence a property such as this one, offering a blank canvas in a great location represents a great opportunity.
“Since the original sell-down of this lot in 2015 there have only been a handful of vacant industrial parcels transact in the market of this size at Mangere. The scarcity is underpinned by the well-established Airport and Mangere precincts,” says Brewer. “The ability to acquire bare land like this directly offers complete flexibility in respect of use, site coverage and the engagement of your preferred construction partner.”
Brewer says as the majority of greenfield opportunities that are offered to the market are only for lease, and demand for freehold sites with the potential of the Oruarangi Rd property has never been greater or scarcer.
“This applies to businesses or investors looking to secure a strategic site at a time when there is a real squeeze on supply of developable land in the Auckland market.”
ABOUT CBRE GROUP, INC.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com..
