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 vendors 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, its 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 buildings 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 buildings 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.

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