Manukau office and data centre fully leased to Vodafone

Manukau office and data centre fully leased to Vodafone  hero

A modern office and data centre property in fast-growing Manukau is for sale with favourable lease terms to Vodafone.

Located in the heart of South Auckland’s main commercial centre, the property at 15 Lambie Drive comprises a two-level commercial building of 2,511sq m on a large 7,068sq m freehold site with 92 car parks.

It is fully leased to Vodafone New Zealand Limited, returning some $737,767 plus GST in net annual rent.

Colliers International has been exclusively appointed to market 15 Lambie Drive, Manukau, for sale by deadline private treaty closing at 4pm on Wednesday 19 August, unless sold prior.

Gareth Fraser, Auckland Director of Investment Sales at Colliers, says the property’s tenant covenant and growth location make it a compelling investment.

“Manukau is one of Auckland’s fastest-developing centres, having been earmarked for significant growth by local and central government.

“This property is superbly located to benefit from the ongoing transformation of the surrounding area, which includes significant residential, commercial, educational and infrastructure development.

“Investors will be attracted to the tenant covenant provided by Vodafone, while recognising the future potential of this large strategic landholding in the heart of Manukau.”

Matt Barnes, South Auckland Director of Investment Sales at Colliers, says the property is well positioned on Lambie Drive – a main arterial route that stretches from Puhinui Road through to Wiri Station Road.

“The area is well serviced with a number of amenities nearby. There is easy access to the motorway network, with both State Highway 1 and SH20 within close proximity.

“The recently upgraded Manukau train and bus stations provide easy access to a strong labour supply.”

Charlie Oscroft, Investment Sales Director at Colliers, says the property comprises a modern office block with an A-grade seismic rating.

“Vodafone has made substantial improvements to the premises to suit its business needs, including not only the communications technology equipment but also the air conditioning, backup power and infrastructure to support it.

“It is primarily used as data centre on the ground floor, which also features a main lobby, a number of partitioned offices and meeting rooms, a staff room and a loading dock.

“The first floor is predominately an open plan office space with a staff room as well as amenities.”

The building is situated at the centre of the site, with car parking and manoeuvring areas around the perimeter.

The site is zoned Light Industry, which allows for manufacturing, production, logistics, storage, transport and distribution activities, as well as the current office use.

Ryan Gibb, South Auckland Broker at Colliers, says Vodafone New Zealand is owned by Infratil Limited and Canadian investment partner Brookfield.

The company forms part of listed London-based company, Vodafone Group Plc.

“Vodafone is the largest mobile phone operator in New Zealand with offices and retail stores nationwide.

“It provides a comprehensive telecommunications services to 2.4 million customers throughout the country. This includes fixed, mobile and internet services.”

The current lease expires in 2024 and the next renewal is for 12 years, presenting multiple passive or add-vale investment options.

Related Experts

Gareth Fraser

Auckland Director - Investment Sales

Auckland CBD

Gareth leads Colliers International's Investment Sales team. The team operates across the entire Auckland market from four strategic locations; CBD (including city fringe), South Auckland (based in Highbrook), West Auckland (based in North West Shopping Centre) and North Shore (based in Takapuna).

This is a large team of brokers and support staff focussed on providing solutions to owners, investors, developers, owner-occupiers and tenants. It features a specialised site sales team focussed on residential land and development opportunites. Investment Sales also includes the syndication division, offerring proportionate ownership opportunities to investors on behalf of clients.

Gareth is also on the Executive Team for Colliers in New Zealand.

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Matthew Barnes

Director | Investment Sales

Auckland South

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Charlie Oscroft

Director

Auckland CBD

With an extensive background in many real estate markets spanning London, Hong Kong, Brisbane, Perth and Auckland, I bring a wealth of experience to Colliers International in client management and delivering 5 star customer service.

Charlie specializes  in both the sale of commercial, retail and industrial property as well as Syndication sell downs on behalf of clients. He is one of the leading sales brokers promoting the Auction Business.

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Ryan Gibb

Broker | Investment Sales & Leasing

Auckland South

I am a member of the Investment Sales team at Colliers International, focusing on the sub $20 million investment bracket in the South Auckland market and further afield.

I also focus on the South Auckland leasing market with an emphasis on Manukau.


My responsibilities include:

- Facilitating acquisition and divestment transactions

- Provide economic and market advice to tenants, landlords, buyers and sellers

- Evaluating income reports, rent rolls and conducting cash flow analysis and comparative market analysis to determine the market value, cap rate and internal rate of return of income producing properties

- Identifying problems, monitoring processes and achieving timely and effective closed transactions, consistent with client goals.

 

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