Income meets opportunity in Tawa

Tawa’s industrial sector continues to benefit from resilient regional connectivity, a strong residential catchment and proximity to key transport links, making the suburb a practical base for trade, service and light industrial operators.

Against this backdrop, a substantial split-risk industrial holding has come to market for the first time in more than 30 years. 98 Main Road, Tawa comprises a vacant primary warehouse suitable for an owner-occupier, supported by seven modern business units that deliver diversified income and further upside.

The property provides genuine flexibility for occupiers and investors chasing growth, with the primary tenancy having excellent profile and comprising approximately 886sqm of warehouse, office and showroom accommodation. The vacancy provides an opportunity for purchaser occupation or add-value via leasing.

The primary warehouse is the original development on the property, constructed with concrete block walls and steel portal framing. It provides a high-stud main warehouse with dual roller door access, complemented by a lower-stud workshop area to the rear and offices and amenities over two levels. The building has a 75 percent NBS rating and underwent full roof replacement in 2025. The combination of profile, accessibility and scale makes the vacancy particularly attractive for an owner-occupier seeking a northern Wellington base.

The seven smaller industrial units provide diversified income and further potential to improve returns over time. The units were completed in 2003 and form a modern tilt slab industrial complex, each fully self-contained and individually metered with three-phase power available throughout. Each tenancy has dedicated parking, with good vehicle access and practical loading directly to the units. The units are assessed at 100 percent NBS and offer excellent utility across a wide range of trade, service, storage and light industrial businesses.

The current net income is $229,242 per annum plus GST, with a potential net income of approximately $379,242 per annum plus GST once the primary warehouse is leased. The split across multiple smaller tenancies reduces reliance on any single occupier, while the established leasing history of the rear units demonstrates the ongoing demand for functional, well-located industrial accommodation of this size.

Simon Butler and Fraser Press of Bayleys Wellington Commercial are marketing the property for sale by tender closing Wednesday 21st October.

The offering is well-timed for investors seeking scale and flexibility in a market where quality industrial stock remains limited, says Butler.

“This is a split-risk investment with genuine upside. The primary warehouse gives owner-occupiers a chance to secure a prominent base in Tawa, while investors will recognise the strength of the diversified income stream and the ability to lift returns through leasing.

“Tawa’s position only minutes from State Highway 1 and around ten minutes from Wellington CBD reinforces its role as a strategic northern hub for trade, service and light industrial operators.

“Industrial property with this level of profile and accessibility is increasingly difficult to secure, making the location one of the offering’s strongest attributes.”

Butler says the configuration of the property is another key strength.

“The rear units have a strong leasing history since 2003 and are in a format that appeals to a range of commercial occupiers. Having seven separate tenancies spreads the income risk across multiple businesses rather than relying on one major tenant.

“The combination of high-stud warehousing, practical office components, dedicated parking, three-phase power and strong seismic ratings makes the units suitable for a broad tenant pool. That functionality, together with the ability to lease or occupy the main warehouse, gives purchasers multiple options to manage the property and grow the income over time.”