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Attractive industrial investment in Albany sure to impress

NZ_AucklandCBD_Communications_Attractive industrial investment in Albany sure to impress

A highly functional, modern industrial building with a well-established tenant in a prominent and sought-after North Shore location presents an excellent investment opportunity for buyers looking for a top-quality asset to purchase.

Unit 3, 52 Arrenway Drive in Albany offers a total net lettable area of 674sq m comprising a high-stud warehouse, two floors of office space and amenities, canopy, and 10 exclusive car parks in the Interplex Business Park.

The premises have been occupied since 2012 by Synergy Positioning Systems Limited, a New Zealand owned and operated business with more than 30 years’ experience in the sales and consultancy of scanning equipment, surveying instruments, and machine control technologies. The tenant recently agreed to a new three-year lease that began in August with one further right of renewal for three years.

The current net annual rental income is $110,000 plus GST and operating expenses. This will rise to $114,000 plus GST and operating expenses on 1 August 2022. A potential further increase of CPI plus 1 per cent per annum is agreed if the lease is extended beyond 1 August 2024.

Colliers Brokers Ryan de Zwart and Mike Ryan have been exclusively appointed to market the property for sale by auction at Colliers North Shore, Level 1, 129 Hurstmere Road, Takapuna, Auckland at 2pm on Wednesday 10 November, unless sold prior.

The expertly crafted building enjoys excellent natural light and comprises a 417sq m warehouse with a minimum stud height of 6.5m, 103sq m of ground floor office space and amenities, 124sq m of first floor office space and amenities, and 30sq m of canopy.

De Zwart, Associate Director of Industrial Sales and Leasing at Colliers, says this modern property was developed in 2006 and shapes as an attractive asset.

“This building is strategically located in a purpose-built industrial park and offers a strong tenant covenant with favourable lease terms for the new owner,” de Zwart says.

“We anticipate strong interest from a number of buyers for this property given that it is a reliable investment with broad appeal.”

Ryan, Industrial Sales and Leasing Broker at Colliers, says the location is a highly sought-after part of the North Shore that has developed into a well-known industrial precinct and is home to many of New Zealand’s biggest companies.

“Arrenway Drive runs adjacent with Apollo Drive, which is a principal thoroughfare linking Rosedale Road with Constellation Drive,” Ryan says.

“The Northern Motorway is easily accessed via the Greville Road interchange to the north, and the Constellation Drive and Upper Harbour Highway interchange to the south. Major road upgrades are currently underway as part of the Northern Corridor Improvements, meaning less congestion in the area. Auckland’s CBD can be reached in approximately 15 minutes, outside of peak traffic hours.

“This is a well-established business locality, which enjoys strong demand from both investors and tenants. With no new development in the area, building and investment demand remains high.

Colliers’ research shows that overall industrial vacancy rates are at record lows, resulting in increased rental rates.”

The property is zoned Business - General Business Zone under the Auckland Unitary Plan. This designation provides for business activities from light industrial to limited office, large format retail and trade suppliers.


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Ryan de Zwart

Associate Director | Industrial Sales & Leasing

Auckland North

Ryan is consistently one of the company’s top performers and has been involved in some of the largest sales and leases, design build projects on the North Shore. He specializes in mid to high-end properties, with a strong track record in both the industrial and office market.

He joined the company in 2009, having been the No. 1 industrial broker at another large property company until that point. Prospering in the closer team environment at Colliers International, he again achieved high rankings, being in the top 3 rankings for 6 consecutive years.

Believing that a shared network and open communication are in everyone’s best interest, Ryan works closely with other members of the team. He approaches the job as a problem-solver, and is known for finding solutions that outperform the obvious, and delivers the best possible result to his clients.

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Mike Ryan

Broker

Auckland North

Mike is a member of the Colliers North Shore team having started there in 2007 and with a focus on the local Industrial market. Covering both sales and leasing he is well known and respected by landlords, tenants, investors and developers and has worked with all these parties to assist with their commercial property requirements. Over his years in business Mike has been both a tenant and investor giving him a good understanding of the market and a wide range of skills to assist clients.

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