Diverse Albany Investment with ‘A’ Grade Tenants

229 Dairy Flat Highway, Albany, Auckland

Investment For Sale

For Sale by Deadline Private Treaty closing at 4pm Tuesday, 27 Aug 2019 (Unless sold prior)
Land Area: 10,400.00 m2.    Floor Area: 6,736.50 m2.    

Description

Colliers International is proud to exclusively present this exceptional investment opportunity underpinned by multiple ‘A’ grade tenants, strong WALT and clear future development potential in a central North Shore location.

Featuring a 10 year WALT from June 2019, the total offering is returning $1,910,165 pa + GST from five established tenants. With Massey University, Auckland Council & Quest Albany responsible for over 97% of the total income, this is an excellent investment opportunity with outstanding tenant covenants that must be carefully considered.

The 1.04Ha ‘Business – Local Centre’ zoned site is ideally located in Albany Village with many key landmarks in close proximity including, Massey University, Westfield Albany, multiple apartment blocks, Settlers Retirement Village, Kristin & Albany Senior High Schools, QBE Stadium and many more. The location also provides for easy access to both the Northern & Western motorways with a 20 minute drive to Auckland’s CBD in non-peak hour traffic (approx).

For further information or to register your interest, contact either of the Sole Agents now – Matt Prentice (021 464 904) or Shoneet Chand (021 400 765).

Features

  • Net return of $1,910,165 pa + GST
  • 10 year WALT as at June 2019
  • 5 Tenants including Massey University, Auckland Council & Quest Albany
  • 1.04Ha Landholding zoned ‘Business - Local Centre’
  • 6,736.5m² Net lettable area + 156 car parks
  • A & A+ IEP ratings across all 4 buildings
  • Future development upside in high growth location
  • Central location with easy access to motorways
  • Top tier North Shore investment offering

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