Full house in industrial heartland

A fully leased industrial investment in the heart of Auckland’s southern manufacturing corridor has been brought to market, as tightening industrial supply and renewed investor focus on dependable cashflow continue to underpin demand for well-located multi-tenanted assets, Bayleys brokers say.

Bayleys South Auckland senior broker Roman van Uden, together with colleague Ash Martinus, is marketing the 2,198sqm (more or less) freehold site at 14 Grayson Avenue for sale by deadline, closing at 2:00 pm on Thursday, 25th June 2026 (unless sold prior).

Positioned within the tightly held Manukau industrial precinct, the property comprises approximately 1,272sqm of warehouse space and associated improvements across two standalone buildings, returning a net annual income of $188,542 plus GST from three established tenants.

Van Uden says the offering comes at a time when industrial property continues to outperform many other commercial sectors, supported by constrained land supply, stable occupier demand and the essential nature of industrial businesses.

“Industrial as an asset class has proven remarkably resilient through the current cycle, underpinned by strength in the underlying occupier market,” he says. “Businesses require functional, well-connected space, particularly throughout South Auckland, where access to transport infrastructure, labour, and logistics networks is critical.”

The tenancy profile comprises a sheet metal fabrication business occupying circa 798sqm; a commercial laundry service occupying approximately 383sqm; and a candy manufacturer holding a lease for a further 91sqm. Lease structures provide staggered expiry profiles extending through to 2036.

Van Uden says recent ownership changes within parts of the tenancy mix have further strengthened the covenant profile. “That diversification is increasingly attractive in the current environment, as investors place emphasis on secure income streams supported by multiple tenants and practical industrial functionality, rather than relying on single-tenant exposure.”

Located just off Cavendish Drive, the property benefits from immediate connectivity to the Southern and Southwestern motorway networks, Great South Road, Roscommon Road and Auckland Airport. The wider precinct remains one of South Auckland’s most established industrial locations, servicing manufacturing, logistics, warehousing and trade-based occupiers.

Bayleys South Auckland broker, Ash Martinus, says the location continues to benefit from long-term structural growth across Auckland’s southern corridor.

“South Auckland remains the engine room of Auckland’s industrial market,” he says. “Population growth, infrastructure investment and continued business migration toward the south reinforce occupier demand throughout precincts like Manukau and Wiri.”

That demand is occurring against a backdrop of increasingly constrained availability of industrial land across Auckland, particularly within established precincts with existing infrastructure and motorway access.

“Industrial vacancy across prime South Auckland locations remains tight by historical standards,” Martinus says. “Assets with diversified income, workable yard and parking ratios, and strong connectivity continue to attract broad interest from both private investors and larger capital sources.”

The property is zoned Business – Light Industry, supporting a range of manufacturing, production, logistics, storage and distribution activities.

Van Uden says the site’s favourable land-to-building ratio may also appeal to future add-value purchasers seeking longer-term flexibility.

“There’s underlying strategic value in sites like this because they provide versatility,” he says. “Whether investors are seeking passive income, long-term potential, or future repositioning opportunities, the fundamentals stack up – and we have clear restrictions from our vendor to sell.”