47A Dalgety Drive
Each of these case studies was written shortly following completion of the relevant development or other significant lease-related event. While accurate at that time, in some cases, circumstances have changed, including PFI’s ownership of the property, the identity of the tenant, property specific metrics (including rent) and/or use of the property.
Overview
When we acquired this ~2.2ha site, it was already home to a mid to large industrial warehouse facility and a large car park. That part of the property was secured with a long-term lease. A key attraction for us, however, was ~5,476m2 of surplus land to the north of the property which offered promising opportunities for further development.
47A Dalgety Drive is in an established part of the Wiri industrial precinct, with Kerrs Road to the North and Browns Road to the South. The wider area features large-scale heavy manufacturing complexes, but what motivated us was the extension of State Highway 20 to connect with State Highway 1, which further lifted desirability and potential.
Our brand-new facility has delivered a modern new high-stud industrial warehouse, including a 3,100 sqm warehouse and 300 sqm office, a functioning concrete yard with 240 sqm of canopy and 37 separate carparks for the site, with dedicated access off Dalgety Drive.
“Developing this property has released land which up until now has been surplus to use and unimproved,” says PFI Portfolio Manager Ewan Cameron. “Activity across the Wiri area proves that this is an industrial precinct that remains highly attractive. Our new warehouse is a generic building constructed with largely tilt-slab panels, long-run iron and steel framing. Internally the warehouse is column free with a 9-metre stud with a private road access off Dalgety Drive, deliberately designed to have wide appeal.”
“Sites with such generous development potential are rare in Wiri,” says PFI Chief Executive Officer Simon Woodhams. “47A Dalgety Drive is a clear example of using our brownfields development capabilities to add value and utility to a site we already own, in an area with established industrial credentials. Our facility has been specifically designed to meet the emerging needs of logistics and manufacturing, national or multi-national companies looking to re-site their operations in the area.
“The ~$9 million investment has added a new storage and distribution warehouse to our portfolio that has served to enhance the function and value of the whole site in one of the fastest growing commercial zones in Auckland.”
