West Auckland industrial investment with global tenant covenant

45 Patiki Road Avondale Medium

An established industrial investment underpinned by globally listed tenant Trimble Loadrite is for sale in a tightly held west Auckland location.

The property at 45 Patiki Road in Avondale is for sale by private treaty closing at 4pm on Wednesday 8 April unless sold prior.

Colliers International Directors Shoneet Chand and Matt Prentice are marketing the property alongside industrial experts Dhiru Patel and Andrew Hooper.

Chand says the property provides all the fundamentals of an exceptional investment.

“The property is strategically positioned in a sought-after industrial location.

“It benefits from excellent motorway access and a central Auckland location that’s within 15 minutes of the CBD and 5km from the Waterview Tunnel.

“NASDAQ listed Trimble Loadrite provides an exceptional tenant covenant.”

Prentice says that a committed tenant reinforces the appeal for investors.

“Trimble Loadrite are committed until at least September 2023 with the right to renew for a further two-year term.

“The property is currently returning $450,624 per annum plus GST and OPEX.

“A 3 per cent rental increase will come into effect on 1 October 2021 for the remainder of the term.”

Founded in 1978, Trimble products and solutions are now sold in over 150 countries and the company reported revenue of $3.1b in 2018.

Trimble acquired Loadrite and its parent company Actronic Holdings in 2013.

Loadrite has been operating in New Zealand since 2007 when brothers Steve and Phil Alloway began business as the exclusive distributers, starting in the quarry and mining sectors.

They have since expanded the company in New Zealand to operate in all sectors that Loadrite operate in globally.

Patel says that with 2,347sq m of office and warehousing on a 5,401sq m freehold site, the property is well suited to production and operational management.

“The facility comprises almost 1,000sq m of office space across two floors. The office space was refurbished in 2007 when Loadrite moved into the premises.

“Along with 335sq m of warehousing, the facility also has 384sq m of production space, a mechanical workshop and an electrical workshop.

“It also benefits from a sizeable 27sq m loading canopy, a new cafeteria, 56 car parks and B-train access via a right of way around the neighbouring building.”

Related Experts
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Shoneet Chand

Director

Auckland North

Shoneet is a Director at Colliers International and specialises in Investment & Development Sales over $2m across the wider Auckland region. Over the past 10 years he has been one of the most successful investment sales brokers in Auckland with a track record of significant sales second to none. He has had considerable experience in dealing with international purchasers and has completed a number of deals with investors out of the Middle East, Asia and Europe.

Shoneet was the top broker in his market for both 2014 and 2015 & once again placed in the top 10 brokers nationwide for Colliers in 2016.

In 2017, he transacted over $250 million of property, did 73 deals and was ranked 2nd in New Zealand.

In 2018, he was a finalist in the Commercial & Industrial Salesperson of the Year category which is judged nationwide across all agencies and again was the top broker in his market, being involved in over $300m of unconditional sales.

In 2019 he was again ranked in the top 5 brokers nationwide for Colliers and was involved in over $300 million of settled sales in the calendar year. 

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Matt Prentice

Director

Auckland North

Matt joined Colliers International in 2006 with a focus on mid to upper end industrial & investment transactions.  Specialising in tenanted investments, occupier representation through to vacant land / building sales on the North Shore, Matt was promoted to a North Shore Director in 2015.

In 2011 and 2012 Matt was awarded the "Golden Gavel" for Colliers New Zealand as the most successful auction sales broker across Colliers New Zealand. Matt has been the number one North Shore sales and leasing broker, 2011, 2012 and 2013.  In 2012, was a top 20 performer across Colliers New Zealand and has over $550 million of sales since joining colliers International.

In 2013, Matt was in the top 10 Highest Performing Brokers Nationwide and in 2014, he had a record year completing more than 50 transactions, and  finished in the top 10% of brokers in New Zealand.

In 2015, Matt completed over 60 transactions, more than any broker North of the Bridge, again finishing in the Top 20 brokers in New Zealand.

In 2016, Matt had a record year finishing top 10 in the country and was the top broker on the North Shore. 

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Dhiru Patel

Broker | Industrial

Auckland South

Dhiru began his early career as a Tax Consultant for KPMG Tax & Advisory services, following a Bachelor of Commerce from the University of Auckland. After two years at KPMG he returned to the University of Auckland to complete a Bachelor of Property and Valuation, where he found his real passion in property.


 

After a brief stint at Goodwin Property Management, he started with Colliers International in late 2011 as the Industrial Information and Systems Manager for the Highbrook-based Industrial division. In 2012 he we went on to be awarded the Colliers MVP for Team Support, for his work assisting the brokerage team in Highbrook.


 

In early 2014, Dhiru became an Industrial Sales and Leasing Broker; the position he currently occupies today. He specialises in his local area of West Auckland and his expertise lies in Brokerage: Predominately Industrial Sales and Leasing including Investment Sales, Tenant Representation and Land Sales.


 

Dhiru is a Sales and Leasing Industrial Broker who forms a crucial part of the Colliers International Industrial division in Highbrook, Auckland. His clients and colleagues alike, describe his energy and enthusiasm for work as a real asset, and a unique quality that sets him apart. Since joining Colliers 7 years ago, he has transacted a wide range of sales and leasing deals. Listed below are the more recent, notable transactions.

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Andrew Hooper

Director | Industrial

Auckland South

I specialise in the mid to upper end of sale and leasing projects.  I have excellent relationships within the property market and has transacted over $3.5b of commercial property at Colliers making me a leading broker in the New Zealand Industrial market.  My clients range from listed property funds such as PFI, Goodman, to syndicates and multinational occupiers/tenants. 

After a brush with brain cancer in early 2017, I'm now fully operational and continue to be a top performer at Colliers.

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