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Auckland

Chance to own three industrial units in Wairau Valley

Archers Road property is a three-in-one opportunity


 

 

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JLL is marketing three units for sale in Archers Road, Wairau Valley, on Auckland’s North Shore. 

The 1,215sqm property at 207 Archers Road is divided into three units and is located in a busy industrial area. 

The units are tenanted by two automotive businesses and a kitchen company, and collectively bring in $144,840 net rental per annum. 

The property is on the market for the first time since 1979, and is being marketed by David Mayhew and Jaye Miller of JLL’s specialist North Shore team. 

“We are certainly seeing a resurgence in the North Shore commercial and industrial market,” Mayhew says. 

“We’ve seen significant increases in value over the last 18 months, thanks to a variety of factors including low interest rates, low vacancy levels, huge owner-occupier demand and investment yields at an all-time low. 

“We expect this property to attract strong interest as there is a real shortage of investment stock in this area. And there is definitely upside for the new owner in this investment,” Mayhew says. 

“This is a high profile location on a busy road, just off the main thoroughfare of Wairau Road,” Miller says. “The location is just 10 minutes’ drive (3.5km) from Takapuna and 20 minutes’ drive (11km) from Auckland’s CBD. Access to the motorway heading south or north is just around the corner.”

The largest of the three units is 565sqm and is tenanted by Automotive Transmission Limited. It is on a four-year lease from April 1, 2015. 

The second is 340sqm and is on a two-year lease to United Kitchen Limited, last renewed on September 11, 2015. 

The third unit is 310sqm and is tenanted by Top Motor Services Limited. The lease was renewed for two years on April 20, 2016. 


Population density increasing

The suburbs around Archers Road are heavily populated and will only become more so in the next several years.

The resident population density within a 2km radius of the property is forecast to increase substantially between 2015 and 2043, with a total area of 15.51 sq km. The resident density is forecast to increase from 2,755 per sq km in 2015 to 3,331 in 2043. 

There are a notable number of special housing areas (SHAs) within a short distance of the subject property. The largest being the Takapuna Strategic Area with an estimated dwelling potential of 650, followed by the 573 dwellings at the Northcote Strategic Area.


Transaction trends

JLL’s annual New Zealand Transaction Trends report monitors office, industrial, retail and mixed sectors.

The latest edition shows that in 2015, favourable economic conditions continued to fuel demand for property assets from both international and domestic investors. 

Enticing returns and a supportive, transparent investment environment paired with stable economic fundamentals will continue to promote New Zealand as a destination for commercial property investment in 2016, the report says.

“The report also shows that Auckland remains the dominant destination for capital. It had 63.4 percent of the transactional volume in 2015,” Mayhew says. ​

“The industrial sector was the only sector to show higher sales than in 2014. Total sales value grew by 47.8 percent to reach NZD 762.8 million,” Miller says. ​



The property is being marketed for sale through an Expressions of Interest campaign, closing September 1. Interested parties can make an offer on one, two or all three units.​

Read the NZ Herald article here