A vacant warehouse building in Miramar will be an opportune buy for an owner-occupier or developer looking for access to the constrained eastern suburbs market, say agents marketing the property.

The 1,288sqm Mixed Use-zoned site at 5 Ropa Lane, Miramar is on the eastern side of a short cul-de-sac running off Aranui Street, which is accessed off Maupuia Road.

It supports a 740sqm single storey 1960s building comprising a 573sqm warehouse/workshop with office space, mezzanine floors, a small basement, staff facilities, and a 3-metre deep canopy across the front of the building to protect office access and one of the vehicle entries.

Two roller doors provide direct entry from the yard to each warehouse bay and there is good natural light throughout the warehousing areas. A fenced and sealed yard at the front of the building has parking for up to 15 vehicles and/or external storage.

It is being sold with vacant possession and the property has an assessed potential net annual income of $121,919 plus GST. The building has a seismic rating of 55-percent new building standard, with only minor works required to lift this to 67-percent which the vendor is prepared to undertake prior to settlement.

Mark Walker and Sarah Lyford of Bayleys Wellington Commercial are taking the property through a tender campaign closing 12th March.

Walker says there’s nothing else remotely like this for sale in the eastern suburbs and given the property is vacant, he’s expecting strong enquiry from owner-occupiers who have been starved of options in the popular suburb.

“Any business servicing the eastern suburbs will appreciate the difficulty in finding premises out this way,” says Walker.

“It’s a niche area and many former light industrial or commercial buildings have been replaced with new developments so these properties are becoming pretty rare.

“It’s strategically located to service the city, airport, and the thriving local movie industry, and has good connectivity within the wider eastern frame making it ideal for owner-occupiers needing a presence on this side of the city.”

An owner-occupier aligned with the city’s film industry could be a good fit for the property, says Lyford.

“Screen Wellington, the Wellington region’s film office, is championing a campaign, Make It Here, to support Wellington's established and emerging digital creative community and attract more projects and talent to the city.

“Wellington has been a UNESCO City of Film since 2019 and the Miramar Peninsula bats well above its weight boasting Wētā Workshop, Wingnut Films, Park Road Post Production and Stone Street Studios.

“This warehouse building has been occupied by film industry interests before, but is generic and could easily adapt to a multitude of uses.”

The Mixed-Use zoning which has a 12-metre height control overlay also opens up options for developers, says Walker.

“The zone allows for a compatible mix of residential, commercial, light industrial, recreation and community activities.

“There are apartment developments in the immediate vicinity and more planned so this site, which is reasonably-sized, could potentially go the same way.”