A large office and warehouse building in the North Harbour Industrial Estate on Auckland’s North Shore has been placed on the market for sale or lease, offering the chance for an owner occupier or tenant to move into a popular industrial precinct.
8 Rothwell Ave, North Harbour, is part of Colliers International’s latest National Portfolio magazine and is being marketed by Mike Ryan and Matt Prentice from the agency’s North Shore office. Offers close on October 31 for the deadline private treaty sale campaign, unless the property is sold or leased before that date.
The freehold 6620sq m property, next door to Unitec Institute of Technology’s North Shore campus, is currently occupied by an educational/training institution. However, with this business moving on by the end of this year, the opportunity is now available for a new occupier to take over the property, Ryan says.
“The property was converted to educational use from its original office-warehouse configuration in around 2005. It would therefore be ideally suited to an educational facility in its current form, or alternatively it could revert to a generic office and warehouse configuration to suit industrial owner occupiers,” he says.
The increasing popularity of the North Shore as an industrial location, in particular key precincts such as the North Harbour Industrial Estate, means ‘big shed’ properties like 8 Rothwell Ave are difficult to find, Prentice says.
“With minimal land available on the North Shore and vacancy rates falling, large vacant buildings are a rarity, so we expect this property to be in demand from a variety of tenants and owner occupiers. There are very few industrial buildings of this size on the market on the North Shore at the moment.”
Other possible uses for the building in its existing configuration would include a call centre or data centre, says Ryan.
The site houses a 5,100sq m building, incorporating 2800sq m of training areas, offices and amenities over two levels; as well as a 1744sq m warehouse with an eight-metre high stud which is currently used for internal car parking. The property also has 16.5sq m of canopy areas and a 31sq m timber deck on the first floor.
Location
The property occupies a road-front position within the North Harbour industrial estate – Albany's principal commercial and industrial precinct. It offers good transport links, with Rothwell Avenue connecting the precinct with Albany Highway and Albany town centre. This route also provides efficient access to the new Upper Harbour Motorway extension as well as the Northern Motorway, says Ryan.
The Busines 9-zoned property also lies in the immediate vicinity of the majority of new housing development that has been built in Albany within the past five years, providing a very large labour catchment for businesses in the industrial area.
The North Harbour industrial estate is home to many well-known national and international names, including Kea Campers, Fuji, Crown and CDB Goldair, as well as the Unitec property.
North Harbour industrial vacancy is down -1.1% over the six months to August 2012 and -0.7% over the past year, according to new research from Colliers International.
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