Investors seeking a foothold in Auckland’s evolving southern corridor have an excellent opportunity to acquire a multi-tenanted property in the heart of Manukau’s key industrial precinct, Bayleys brokers say.

Bayleys South Auckland senior broker Roman van Uden is marketing the freehold property at 14 Grayson Avenue for sale by deadline, closing at 2:00 pm on Thursday, 22nd May 2025 (unless sold prior), alongside colleague Karl Price.

Positioned on a freehold site of 2,198sqm (more or less), the asset provides a secure, passive income stream of $179,695 per annum plus GST, fully underpinned by three established tenants operating across two standalone warehouse buildings.

Van Uden says the property comprises a total floor area of approximately 1,272sqm and benefits from a diverse tenancy profile.

“A sheet metal fabrication business occupies approximately 798sqm in the front building on a five-year lease, with renewal rights extending through to 2033. A commercial laundry service has exercised its remaining four-year renewal option, securing circa 383sqm at the front of the rear building until 2028. Meanwhile, a sweet manufacturer leases the 91sqm (more or less) rear unit June 2026 with further renewals.

“This balanced lease structure offers secure cash flow and reduced exposure with staggered renewal and expiry dates,” van Uden says.

Located just off Cavendish Drive – a key arterial along Auckland’s southern corridor – the site benefits from strategic access to Southern and Southwestern Motorway interchanges, Great South Road, and Auckland International Airport.

Van Uden says this makes it a preferred location for logistics, light manufacturing, and distribution-focused businesses.

“This area of Auckland is experiencing strong momentum. As the city’s growth trajectory shifts southward, new residential and infrastructure development in Manukau, Franklin, and Pokeno is attracting a growing workforce base.

“The council development arm – Eke Panuku – is actively supporting this transformation, with significant investment planned to unlock more land for development and improve the region's liveability.

“Immediately adjacent Manukau is being reimaged as a modern city centre, using the walkable cities model. With enhanced transport links and public amenity upgrades, conditions are ripe for long-term business, local economic, and capital growth potential.”

Zoned Business – Light Industry, the property supports a range of low-impact industrial uses, offering flexibility for future tenant or owner-occupier appeal.

Bayleys South Auckland senior broker Karl Price says that with a high land-to-building ratio, investors may also explore redevelopment potential in the future.

“Demand for well-located industrial property remains strong, particularly amongst investors prioritising stability, tenant diversification, and long-term value growth potential.

“This property presents a compelling proposition for investors in today’s market. It’s fully leased to established occupiers, in a location with limited supply and increasing demand.

“As businesses seek quality, accessible space beyond traditional urban precincts, assets like this are becoming even more desirable and sought after.”