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Coveted A-grade industrial investment in popular North Harbour estate

Coveted Agrade industrial investment in popular North Harbour estate

A large, versatile industrial property occupied by a market-leading national tenant has been put on the market for sale in the heart of the sought-after North Harbour Industrial Park.

The approximately 5,062sq m freehold site at 124 Bush Road houses a high-quality modern building which is fully occupied by a leading national manufacturing business with over 30 years of industry experience.

The tenancy generates annual net rental income of $580,756 plus outgoings and GST, with built-in two-yearly market rent increases.

Commencing on 1 April 2021, the current lease runs through to 2027, with two further six-year rights of renewal and a final expiry in March 2039.

Colliers has been exclusively appointed to market 124 Bush Road, North Harbour, for sale by deadline private treaty closing at 4pm on Wednesday 14 April, unless it sells earlier.

Shoneet Chand, Investment Sales Director at Colliers, says the site contains a building made up of three adjoining units with a total lettable area of some 3,292.5sq m, along with 50 on-site car parks. The units have floor areas of approximately 1,409.2sq m, 559.8sq m and 1,323.5sq m respectively.

“Each unit contains a mix of high-stud warehousing and office space, along with a canopy and open and covered car parking. The front unit also incorporates a bin store area. This configuration, with its modern and functional layout, lends the property the flexibility to be easily split for diversified future uses.”

The Bush Road site was developed by Northpoint properties in 2003, with construction of the additional third unit completed in 2007. The building is designed by respected architect Terry Randell, who has designed many other quality buildings in the area.

“The three units with adjoining offices are of a high quality, providing column-free clear span warehousing with a high stud of 7-8m.

“The building is constructed with concrete foundations and floor slabs. The warehouse areas have concrete panel boundary walls, the front wall being concrete panel to a height of 2m with coloursteel above.

“Roofing is channel section long-run steel over white paper/foil insulation and wire mesh, supported by a clear span portal frame. Translucent roof panels at regular intervals provide the interior with natural light,” says Chand.

The site for sale is zoned Business – Light Industry under the Auckland Unitary Plan, which supports the efficient functioning of light industrial activities in fields such as manufacturing, production, logistics, storage, transport and distribution.

Matt Prentice, Industrial Sales and Leasing Director at Colliers, says the surrounding area accommodates a number of modern standalone industrial properties and high-quality multi-unit developments. These house tenants spanning diverse sectors including electronics, food and beverage and home building supplies.

“The property for sale is positioned on the western side of Bush Road within the North Harbour Industrial Park, a relatively new but established industrial precinct.

“This precinct has proven very popular for progressive companies due to the high standard of surrounding development, quality working environment, access to transport links and proximity to a number of affluent suburbs.

“The site for sale lies about 200m from the intersection of Bush and Rosedale roads. These are main arterial routes for the North Harbour area, linking the new Albany Regional Centre, Albany Village, the East Coast Bays and Upper Harbour Drive,” says Prentice.

The Bush Road location also benefits from excellent access to the Northern Motorway, with Auckland’s central business district about 15 minutes away under normal driving conditions. Takapuna is around 10 minutes away.

“Approximately five minutes to the north, the Albany commercial centre is home to key amenities such as Westfield Albany shopping centre and Massey University. The area is home to a wide range of national and international-brand businesses – such as The Warehouse, PAK’nSAVE, ASB Bank, Briscoes, Chemist Warehouse and McDonald’s.

“Located within one of the Auckland region’s most sought-after industrial locations, with superb transport links and an established market-leading national tenant, the property at 124 Bush Road will be of interest to buyers seeking a quality investment in the high-performing industrial property sector,” says Prentice.


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Shoneet Chand

Director

Auckland North

Shoneet has been involved in selling investment property for over 12 years and since 2015 he has been a Director in the Investment Sales Team at Colliers International, specialising in Investment & Development Sales across the wider Auckland region.

Over the past 8 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 recently completed several deals with investors out of Asia, Europe and the Middle East. He has been involved in a number of large land sales and portfolio sales, including divestments for well-known brands like Z Energy, The Warehouse & Bunnings.

Shoneet has been the top broker in his market for both 2014 and 2015 while also placing in the top 10 brokers nationwide again for Colliers in 2016. In 2017, Shoneet transacted over $260 million of property and was ranked 2nd in New Zealand.

He was the top broker at Colliers in the 2018 financial year and a finalist for the Commercial & Industrial Salesperson of the Year award, which is judged nationwide across all agencies. In both 2019 & 2020 he was again ranked in the top 5 brokers nationwide for Colliers and was involved in over $300 million & $325 million of sales in each calendar year. 

Over the past six years, he has transacted over $1.5 Billion dollars in sales.

Notable Transactions over $10m include;

  • 2-4 Fred Thomas Drive, Takapuna - $60,850,000

  • 33 Corinthian Drive, Albany - $50,500,000

  • 229 Dairy Flat Highway, Albany - $33,000,000

  • Todd Industrial Park –Wellington - $33,000,000

  • 9-11 Corinthian Dr, Albany - $27,340,000

  • 44 Taharoto Road, Takapuna - $27,270,000

  • 279-301 Lincoln Rd, Henderson - $27,000,000

  • 11 Coliseum Drive, Albany - $26,700,000

  • The Warehouse, Albany - $26,400,000

  • Farro Fresh/ASB Constellation Dr - $25,500,000

  • Hamilton Bulk Retail Investment - $23,750,000

  • LEP  Childcare Portfolio - $20,775,000

  • Noel Leeming, Wairau Park - $19,000,000

  • 5 The Warehouse Way, Northcote - $19,000,000

  • 13 William Pickering Drive, North Harbour - $17,300,000

  • 16 Dinning Road, Riverhead - $16,500,000

  • 151 Lincoln Road, Henderson - $15,250,000

  • 51 Corinthian Drive, Albany - $15,150,000

  • 50 Centreway Road, Orewa - $15,100,000

  • 7-21 Kawana Street, Northcote - $14,998,100

  • 550 Te Irirangi Drive, Botany - $14,200,000

  • PlaceMakers, Albany - $14,000,000

  • 24 Oteha Valley Rd Extn, Albany - $13,300,000

  • 217-227 Archers Rd, Wairau Valley - $13,250,000

  • 44 Arrenway Drive, Mairangi Bay - $13,117,116

  • 3 Monahan Road, Mt Wellington - $12,680,000

  • 155 Wairau Road - $11,500,000

  • Rapid Labels HQ, Albany - $11,400,000

  • 119 & 121 Onewa Rd, Northcote - $10,250,000

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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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