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Trophy Albany industrial with essential multinational tenant

Trophy Albany industrial with essential multinational tenant  hero

A trophy Albany industrial investment is for sale with a new lease to longstanding multinational tenant SATO, which plays a crucial role in New Zealand’s essential services supply chain.

The north-facing property at 30 Apollo Drive comprises a modern 3,115sq m standalone building on a 5,910sq m freehold site with 55 onsite car parks.

It is prominently located on a key arterial within the tightly held Albany Business Park, which is among the most accessible and sought-after industrial precincts of Auckland’s North Shore.

The property has been occupied since completion in 2001 by SATO New Zealand Ltd, which has more than 40 years of experience at the forefront of the data capturing, barcoding and labelling industry.

SATO has recently renewed its lease for five years, providing long-term passive income backed by the security of an essential services tenant.

Matt Prentice, Industrial Director at Colliers International North Shore, says prime industrial investments of this calibre are keenly sought in the current market.

“This is a chance to secure a real trophy asset, underpinned by a long lease to a top multinational occupier, at a time when strong tenant covenant is at the top of every investor’s wish list.

“SATO New Zealand is part of the wider SATO global enterprise, which is publicly listed in Japan and established in more than 90 countries worldwide.

“Its core business is the supply and support of labelling and data collection solutions for a diverse mix of industries including retail, manufacturing, food, healthcare, and transport and logistics.

“SATO continued to work as an essential services supplier throughout all levels of the Covid-19 lockdown, providing proven security of income.

“Along with this superb tenant covenant, astute investors will appreciate the quality and versatility of the premises.

“The building offers an A-grade seismic rating and a sought-after high warehouse to office ratio of 76 per cent.

“It also has a commanding street presence with some 57m of frontage to Apollo Drive, which is one of Albany’s most prestigious arterial roads. This sought-after location is bolstered by abundant car parking and excellent motorway access, making it highly convenient for staff and customers.

“Rarely do standalone industrial assets on Apollo Drive come to the open market – this is your chance to purchase a premium-grade, hands-free investment occupied by a longstanding essential tenant.”

Colliers International has been exclusively appointed to market 30 Apollo Drive, Albany, Auckland for sale by deadline private treaty closing at 4pm on Tuesday 24 November, unless it is sold earlier.

The property currently returns $505,892 in net annual rent plus GST, with the tenant covering all operating expenses. Market rental reviews take place every three years.

SATO recently renewed its lease for a five-year term to August 2025. A further right of renewal would extend the final expiry to August 2030.

The property provides 2,324sq m of high stud warehouse space along with some 702sq m of office over two levels, a 90sq m canopy and 35sq m courtyard.

Ben Cockram, Industrial Associate Director at Colliers International, says the Albany Business Park is a relatively new but established industrial subdivision that is popular with corporate occupiers.

“Positioned on eastern side of State Highway 1, between Constellation Drive and Rosedale Road, the subdivision took shape in the late 1990s and was mainly developed between 2003 to date.

“The precinct has proven very popular due to the high standard of surrounding development, quality working environment, access to transport links and a number of affluent suburbs close by.

“Excellent access to the Northern Motorway is available via Constellation Drive or Tawa Drive, putting the property within 15 minutes of Auckland’s CBD outside peak hours.

“The Rosedale Road Busway Station, which is due for completion in 2021, will be a short walk away. This $70 million project will allow passengers to conveniently transfer between suburban bus services on local roads, and Northern Busway services on dedicated lanes alongside the Northern Motorway.

“The new station is part of the wider $700m Northern Corridor project, which involves widening State Highway 1 in both directions, a new connection to SH18 to link the motorway with the Western Ring Route and airport, and safe new routes for bus users, pedestrians and cyclists.

“All of these upgrades make Apollo Drive a superb location to invest for the future.”

Related Experts

Matt Prentice


Auckland North

Matt joined Colliers International in 2006 with a focus on mid to upper end industrial & investment transactions.  Specializing 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 $600 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.

In 2017 Matt finished in the top 5 brokers in New Zealand, and completed over 70 transactions.

In 2018 he finished in the top 10 brokers in New Zealand and completed over 120 transactions. Matt was awarded the MVP of brokerage for Colliers International New Zealand.

In 2019 Matt finished in the top 5 brokers in New Zealand and achieved the “Golden Gavel” as the highest performing “Auction Broker”. Again, he completed over 100 transactions.

2020 was a record year, selling over $250 million of stock, with 99 deals in total for the year. Matt finished as the 4th highest performing broker in NZ.

Recent Transactions include:

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

  • 7-19 Croftfield Lane, Wairau Valley - $17,280,000

  • 6 Canaveral Drive, Albany - $13,000,000

  • 44 Arrenway Drive, Albany - $15,300,000

  • 2c William Pickering Drive. North Harbour - confidential

  • 180-184 Target Road, Wairau Valley - $13,000,000

  • 71 Apollo Drive, Albany - $17,550,000

  • 124 Bush Road, North Harbour - $14,950,000

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

  • 34-41 Poland Road, Wairau Valley - $15m circa

  • 1-11 Parkway Drive, Albany - $21,000,000

  • 44 Arrenway Drive, Albany - $15,300,000

  • 30 Apollo Drive, Albany - $12,942,000

  • 155 Wairau Road, Wairau Valley - $11,500,000

  • 53 Paul Matthews Road, North Harbour - $5,610,000

  • 7 Armstrong Road, North Harbour - $7,400,000

View expert

Ben Cockram

Associate Director | Industrial

Auckland South

I am an Associate Director within Auckland's most awarded industrial brokerage team based in Highbrook, Auckland. 

 Specialising in industrial sales and leasing, I have over 6years  experience in Auckland's highly competitive industrial market and have forged very strong relationships with both owners and tenants. I am a highly motivated individual who approaches all transactions with professionalism, integrity and vigour.  
Since commencing brokerage in September 2014, I have been involved in 121 leasing transactions and 110 sales. Having leased and sold buildings of all sizes in Auckland I have vast experience in all areas of Auckland's industrial market. 

In 2018 I was made an Associate Director of Colliers International NZ. 

As of January 2021;

Total sales transactions - 110
Total sales value              -  $301,271,980 

Total leasing transactions - 121
Total sqm leased                   -  126,600m²

View expert