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Three-in-one commercial & industrial building on the market

Three-in-one commercial and industrial building goes on the market for sale or lease

A high-profile corner site retail showroom, office, and light manufacturing complex in South Auckland has been placed on the market for sale or lease.

The two storey property at 495 Great South Road in Penrose sits on 1070 square metres of land and features a 406 square metre showroom on the ground floor, with 188 square metres of office space above, and 60 square metres of basement storage and light industry capacity underneath. The location has car parking for 15 vehicles.

Built in the 1980s, the property is only a few hundred metres from State Highway One via the Ellerslie/Penrose interchange, with Great South Road one of the busiest arterial routes in New Zealand linking Newmarket with the southern industrial centres of Onehunga, Penrose and Manukau.

The property is being marketed for sale through Mike Adams and James Hill of Bayleys Auckland, in a tender process closing on July 17. The property features in the latest edition of Bayleys’ Total Property portfolio and is being sold with a vacant possession, with the vendor’s preferred settlement date being November 1.

Mr Adams said the premises would suit either an owner/operator looking for the triple needs of a showroom, light industrial facility, and office space, or could be bought an investor looking for the reassurance of being located in a low-vacancy industrial precinct. The property has a built-in safe on the ground floor as a remnant of its previous incarnation as a bank.

“Banks are known for undertaking considerable geographic due diligence and location research before opening suburban branches. That process was obviously completed at 495 Great South Road in the 1980s before the rationalisation of banking groups’ networks in the 2000s,” he said.

“Appreciating that research, it’s easy to understand why the corner location on Great South Road was identified, and then supported with ample easy-access parking off Greenpark Road. The building’s construction methods are also indicative of the high standards sought by banks as tenants.”

Mr Adams said the dual-use nature of the property easily lent itself to becoming the head office for a company with brands or products requiring a public-facing showroom facility, supported by the commercial requirements of housing administrative staff on site. This flexibility was also further enhanced with the building’s owner considering both outright sale or leasing proposals.

“The basement level also provides the benefit of a small production plant away from public sight and hearing, yet within the same building should public or trade customers require product repairs or specialised orders direct from the manufacturer,” Mr Adams said.

Mr Adams said potential tenants of the building could include the likes of kitchenware, bathroomware, high-end home electronics, or furniture manufacturers/retailers; interior design and decor retailers; or suppliers of industrial products or services. Staff toilets – including a shower – were located at the rear of the building, with air conditioning throughout all levels of the premises.

The building is zoned Business 4 and is currently tenanted by architectural industry lighting consultancy and lighting technology retailer Targetti New Zealand Ltd. The building has a 105 percent National Building Standards rating – equating to an A+ Initial Evaluation Procedure ranking.

“Being on the fringe of New Zealand’s primary industrial zones – stretching across the Auckland Isthmus from the Manukau Harbour, through Mt Wellington, and over to East Tamaki, and with the substantial floor space for housing administrative personnel – the premises could be an excellent location for operations such as health and safety equipment suppliers to the industrial sector, workplace security equipment wholesalers, or a light machinery agency which needs space to showcase its wares,” Mr Adams said.

“While the showroom footprint is substantial in its current format, there is the potential to decrease its size to allow for increasing the adjacent office space or for expanding the basement manufacturing plant.”

Sales colleague James Hill said the ground floor showroom space had a high profile vista onto Great South Road, with roller door entry from Greenpark Road for delivery and collection of product. Additional parking at the rear of the building could be used for either outdoor storage and container space, or for extra public and staff car parking.

Inside, the upstairs office space had been designed in an open plan format, and features an exposed steel beam ceiling with deliberately visible ducting/electrical wiring networks. Staff amenities include a full kitchen and bathrooms, Mr Hill said. The lower and upper levels are connected by a central internal staircase.

“The office space is very modern and clinical – almost reflecting what you would expect to find in a city-fringe advertising agency or marketing consultancy. It has very straight and functional lines - reflective of the exterior concrete tilt-slab construction style,” he said.

“The unobstructed ceiling structure creates a very open vertical workspace flow in a warehouse format. It’s certainly not what you’d expect to see in many of the buildings designed from that era, and has been modernised to ensure it is one of the ‘coolest’ office spaces in the southern corridor.”

Website listing: http://www.bayleys.co.nz/Listings/Auckland/Auckland-City/Penrose/4109523

ENDS

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