A-grade Wiri asset lands with global covenant

A brand-new, A-grade industrial investment in the heart of South Auckland’s premier logistics precinct is being brought to market, offering investors a tightly held combination of modern build quality, international tenant covenant and long-term income security, Bayleys brokers say.

Bayleys South Auckland Industrial sales and leasing director, Paul Steele, together with colleagues Scott Campbell and Greg Hall, is marketing the freehold site of 7,646sqm (more or less) within the Basalt Business Park at 11 Matukutūruru Road, Wiri, for sale.

Comprising a high-spec facility of 4,525sqm (more or less), the asset has been developed by leading Kiwi firm, Euroclass, and is fully leased to global logistics operator Yusen Logistics, returning $1,331,350 plus GST and outgoings per annum.

The lease structure includes a five-year initial term from 1 September 2026, with two further rights of renewal of five years each, extending the potential final expiry to 2041. Fixed annual rental growth of 3.25 percent, alongside market reviews on renewal, provides a clear income trajectory, further underpinned by a 12-month bank bond.

The property has been purpose-built for high-volume logistics operations, incorporating high-stud warehousing, modern dual-level office accommodation, and a substantial drive-through canopy enabling efficient, all-weather loading and distribution.

Steele says the asset comes to market aligned with the structural forces that continue to influence industrial demand across Auckland’s southern corridor.

“We’re seeing a broader shift in investor focus toward new-generation industrial assets, where build quality, functionality, and tenant covenant are increasingly critical in defining long-term value.

“Investors are prioritising properties that are fit for purpose from day one – facilities that meet the operational requirements of global occupiers while delivering durability of income.

“New construction in established precincts, like Wiri, is particularly desirable, as they remove near-term capital expenditure risk while aligning with occupier demand for efficient, well-located logistics space.”

The property sits at the centre of one of Auckland’s most strategically important industrial hubs.

Wiri continues to attract national and international occupiers due to its proximity to key transport infrastructure, labour pools and major distribution networks.

Located approximately 20 kilometres south of Auckland’s CBD, the precinct offers direct access to State Highway 1 and State Highway 20, supporting efficient freight movement to Auckland Airport, inland ports and the wider North Island supply chain.

Bayleys Industrial national director, Scott Campbell, says this connectivity has cemented Wiri’s role as a critical node in the region’s logistics ecosystem, particularly as supply chain resilience and last-mile delivery efficiency become more prominent considerations for occupiers.

“South Auckland’s industrial corridor is a cornerstone of the country’s logistics network. Assets here benefit from entrenched demand drivers that are not easily replicated elsewhere nationwide.

“Wiri, in particular, remains tightly held, with limited opportunities to secure new developed premises, fully leased and backed by international tenants.”

The tenant, Yusen Logistics, is part of a global supply chain group operating across Asia-Pacific, Europe, and the Americas, providing freight forwarding, contract logistics and distribution services to a wide range of industries.

Bayleys Commercial and Industrial sales and leasing director, Greg Hall, says the covenant strength of such occupiers continues to resonate with investors seeking defence, income-producing assets in an environment where certainty is increasingly valued.

“Global logistics groups bring both scale and stability. Their long-term commitment to strategically located facilities reinforces the underlying value of assets like this.

“With strong fundamentals, a prime logistics location, and a best-in-class build, this is the type of investment that sits firmly at the intersection of security and growth,” he adds.