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Security on offer at tightly held Albany asset

Security on offer at tightly held Albany asset

A prominent corner property in the tightly held Interplex Business Park in Albany with a long-term lease to a well-established tenant in the security services sector, presents buyers with a premier purchasing opportunity.

12 Triton Drive in Albany is a 774sq m standalone building comprising offices and a warehouse on a 1,191sq m freehold site in a premium location that offers excellent street frontage and access to the surrounding motorway networks.

Secom Guardall NZ Limited, a commercial security services firm, is the tenant and they recently began a new six-year lease that expires in July 2027 and includes two further rights of renewal for four years each. The net annual rental income is $230,000 plus GST with two-yearly market rent reviews in place starting from July 2023.

Colliers Directors Matt Prentice and Jimmy O’Brien have been exclusively appointed to market the property for sale by deadline private treaty closing at 4pm on Tuesday 16 November, unless sold prior.

The modern building, which has an A grade NBS rating of 100 per cent, offers a 166sq m warehouse with a 194sq m ground floor office and 414sq m first floor office, while there’s also 16 dedicated car parks.

Prentice, Director of Industrial Sales and Leasing at Colliers, says the property is a highly functional building that will appeal to a variety of potential purchasers.

“The property provides a strong tenant covenant given the existing tenant has been in the building since 2004 and recently signed a new long-term lease,” Prentice says.

“This freehold investment will fit nicely into any astute investor’s portfolio and looking into the future, long-term flexibility exists for the property as it was designed and built to potentially provide dual tenancies.”

O’Brien, Director at Colliers Auckland North, says the site offers easy access and has great profile to the road given its strategic location on the corner of Triton Avenue and Canaveral Drive.

“The Interplex Business Park in Albany is an established industrial subdivision, which is on the easternmost side of the Northern Motorway, positioned between Constellation Drive and Rosedale Road,” O’Brien says.

“The subdivision was developed in the late 1990s, although the majority of the development within the region has taken place from 2003 onwards.

“Activities in the region vary and the majority of buildings have been designed for orthodox office and warehouse use, although a number of properties, particularly in the vicinity of the subject property, have alternative uses. These include warehouse distribution, commercial offices, retail, entertainment, and restaurants.”

Prentice says the outstanding location means the surrounding transport networks are readily accessible.

“Excellent access to the Northern Motorway is available via Constellation Drive or alternatively the Tawa Drive on-ramp is only a few minutes away. Auckland’s CBD can be reached in approximately 15 minutes during off-peak hours,” Prentice says.

“In summary, this is a well-established business locality that benefits from favourable proximity to the North Shore’s Wairau Valley, urban areas and motorways. This area enjoys record low vacancy rates with strong demand from both investors and tenants.

“We encourage all interested parties looking for a steady rental stream from a secure tenant in a highly sought-after North Shore location to contact the sole agents immediately.”

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


Related Experts

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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Jimmy O'Brien

General Manager | Director

Auckland North

Jimmy heads the Colliers North Shore team with a "lead from the front" approach. He specialises in both sales and leasing of commercial and Industrial Property, Now in his thirteenth year with  Colliers International he is constantly in the top 10 % of Colliers brokers.

A North Shore resident for over 40 years his local network and knowledge is extensive. Having come from a successful background of sales, marketing and manufacturing and a director of his own business for 20 years, Jimmy has built up a vast network of property developers, investors, architects, designers and corporate businesses both retail and commercial. With a broad knowledge as both a tenant and investor in the commercial property market his wide range of skills and extensive network will be an asset to any future clients.

Positions Held at Colliers:

March 2006: Industrial Broker

April 2008: Industrial Manager

July 2012: General Manager

February 2014: General Manager -Associate Director

June 2014: General Manager – Director

Through specialisation and a commitment to true team work, Jimmy and his team have sold property in excess of $1Billion and negotiated innumerable leases.

With a strong focus on finding property solutions for his clients, Jimmy has successfully represented AA Insurance, EasiYo Products, Sealegs, Johnson Controls, Electronic Navigation and Maxwell Marine to name a few.

Jimmy is consistently in the top 10% of Colliers brokers.

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