Listing #:1614827524

Huge Penrose Development Site with Holding Income

Location: 3-5 & 9-17 Walls Road, Penrose, Auckland City, Auckland
Property use: Industrial
Floor area: 1,453-10400m2
Land area: 16547m2
Price: To be sold by deadline sale (by 30 May)
The freehold site totals a substantial 16,547m². Made up of four titles, the site comprises multiple industrial buildings of varying ages. 3-5 Walls Road is a 2,130m² site split over two titles and consists of a modernised warehouse building with showroom and office over two levels. The remainder of the site is mostly sealed asphalt yard with mesh fencing forming a secure side yard. The site holds a road front position with excellent profile to Walls Road.9-17 Walls Road is a 14,417m² site contained within two separate freehold titles. The site comprises a large industrial complex with two levels of office accommodation together with warehousing of varying condition and age. The property enjoys a good profile with wide street frontage to Walls Road. The balance of the site is mostly sealed asphalt yard, also with mesh fencing forming a secure side yard.

Of the total buildings area, 8,950m² is currently vacant and 1,450m² is leased, providing holding income. With multiple buildings, the site presents the potential to split into various tenancies and enjoy split-risk.

This is a fantastic opportunity for owners wishing to occupy all or part of the site or developers who can enjoy holding income while they plan.
* Paritally tenanted
* Large freehold site
* Holding income
* Occupy or develop
* Popular location
* Ability to split

Agency reference #: 175646
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Deadline sale
Listed: Fri 27 Apr, 5:10 pm
Paul Higgins
Colliers International South Auckland, (Licensed: REAA 2008)
  • Contact details
  •  (09) 3568977
  •  (021) 549226


Agent's details

Paul Higgins
  •  (09) 3568977
  •  (021) 549226
Hamish West
  •  (09) 3568964
  •  (021) 882737
Colliers International South Auckland, (Licensed: REAA 2008)
(09) 3581888
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Expires: Sun 28 Apr, 10:26 am
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