862 Great South Road, Auckland
Prime industrial location with lease to multi-national tenant and development potential
Located in arguably New Zealand’s pre-eminent industrial precinct, and bordered by the main arterial Great South Road and the Southern Motorway, this substantial property benefits from sought-after heavy industrial zoning and provides both income and a development opportunity.
The property is tenanted by Graphic Packaging, a subsidiary of the NYSE listed company. Rental growth is provided through a mix of fixed 3.5% per annum and 4-yearly market reviews from 2023.
The rear section of the property was significantly refurbished in 2019 including construction of a new office, new roof and canopy. Land in the Penrose precinct is scarce and a development or sale opportunity of circa 4,893m2 remains for a portion of the site fronting Great South Road.
23,737 sqm
Site Area
10,934 sqm
NLA
5.2 Years
WALT
4,893 sqm
Development or sale opportunity
The above stats are as at 31 October 2021
