Significant industrial asset offers rare scale and security in tightly held Māngere precinct

A landmark industrial complex spanning 2.3 hectares in Auckland's strategic Māngere Bridge corridor has emerged for sale, presenting investors with a rare opportunity to secure significant manufacturing and distribution infrastructure anchored by household-name tenants.

Comprising four titles at 39-49 Mahunga Drive, the property generates $2.2 million in annual net income led by Hubbard Foods Limited, the iconic New Zealand breakfast cereal manufacturer. Global HVAC leader Trane Technologies and telecommunications business Spark New Zealand complete the tenancy profile, delivering exceptional covenant strength and income diversification. Total building area spans 11,810sqm (approx.) representing less than 50% site coverage.

CBRE's Bruce Catley, who is marketing the asset alongside colleagues Alex Divers and John Bedford, describes the offering as a standout industrial investment in Auckland's most sought-after logistics corridor.

"This represents a considerable opportunity to secure large-scale industrial infrastructure in a location that combines accessibility with genuine scarcity value," Catley said. "Properties of this calibre and scale are tightly held in the Māngere precinct, where proximity to the airport, motorway networks, and established workforce creates enduring competitive advantages."

The property's prime positioning delivers unparalleled connectivity for modern supply chain operations. Located just 8.6km from Auckland International Airport and 6.4km from MetroPort, the site offers dual frontages to both Mahunga Drive and State Highway 20, ensuring seamless freight movements across regional and national distribution networks.

Hubbard Foods dominates the tenancy, occupying three interconnected facilities totalling over 10,000sqm (approx.) across manufacturing, warehousing, and head office functions. The company has maintained operations since the 1990s.

"Hubbard Foods has made significant capital expenditure in upgrading manufacturing equipment and facilities, reflecting the strategic importance of this location to their national operations," said Alex Divers, CBRE Director. "Combined with Trane's established New Zealand headquarters and Spark's telecommunications infrastructure, this creates a compelling income profile for the asset."

The investment case extends beyond immediate income security. With less than 50% site coverage across the 2.3ha landholding, the property offers substantial expansion potential for existing tenants or comprehensive redevelopment opportunities for new occupiers.

Preliminary development concepts prepared for the site suggest the potential for additional new warehousing and office accommodation, capitalising on the 'Light Industry' zoning and positioning within Auckland's expanding logistics ecosystem.

Market fundamentals continue to support industrial property values in the Māngere corridor, where limited developable land and increasing freight volumes from port and airport operations drive sustained occupier demand. The area's established blue-collar workforce and improving transport infrastructure, including the proposed East-West Link, further enhance long-term investment appeal.

The lease structure provides both immediate income certainty and future growth potential. Hubbard Foods' leases extend to December 2029 with a six-year renewal right, while regular market rent reviews ensure income growth. Trane's lease runs until October 2028, with Spark providing additional income flexibility under a shorter-term arrangement.
For investors seeking exposure to New Zealand's industrial property sector, the Mahunga Drive complex offers a rare combination of scale, quality tenants, and strategic location within a market characterised by tight supply and strong occupier fundamentals.

The property is being offered via Deadline Private Treaty, closing Wednesday 23 July 2025 at 4:00pm, unless sold prior. Inspections are strictly by appointment through CBRE's Industrial Capital Markets team.