Skip to main content Skip to footer

Trophy asset underpinned by established global marine tech company

Trophy asset underpinned by established global marine tech company

A top-quality, versatile office and warehouse building on a high-profile corner site in a sought-after industrial precinct in the North Shore, housing a leading global specialist in marine electronics has become available to purchase.

Positioned on an elevated, prime corner site, the property at 44 Arrenway Drive in Rosedale, North Shore features a top quality 3,129 sqm office and warehouse facility on 3,972 sqm of prime land.

With 70 car parks including 38 basement parks, the property provides some 1,040 sqm of ground floor office and showroom space, 1,089 sqm of first floor office and approximately 1,000 sqm of high stud warehouse space, offering owners future flexibility in a high demand location.

Colliers has been exclusively appointed to market 44 Arrenway Drive, Rosedale, for sale by deadline private treaty closing at 4pm on the 26th of May, unless it sells earlier.

Shoneet Chand, Investment Sales Director at Colliers says this investment opportunity featuring a leading global tenant returning $818,872 per annum plus GST and operating expenses on a long-term lease with fixed annual rent increases, is arguably the premier commercial investment opportunity in the market.

“Navico are currently the world’s largest marine electronics company and is ultimately owned by Goldman Sachs and Altor Equity Partners (Altor fund IV) - a Swedish private equity firm. They are the parent company to leading marine electronics brands: Lowrance, Simrad and B&G.

“Navico specialises in marine navigation, fishfinding equipment, autopilots, chart-plotters, radar and trolling motors, as well as value-added applications for the marine industry.

“With seven decades of developing, designing and manufacturing industry-leading products, their heritage in the industry remains unrivalled and their scale impressive,” says Chand.

“The lease to Navico that runs for 12 years from November 2017 with a final expiry in 2029 includes 2% fixed annual increases to assist shield investors from any potential interest rate rises ahead,” says Chand.

Matt Prentice, Industrial Sales and Leasing Director at Colliers says the property which was originally constructed in 2008 stands out amongst its neighbours.

"Zoned General Business, the property is part of the Albany Heights Business Park, which is predominantly made up of modern standalone industrial and office properties as well as high-quality multi-unit developments, most of which were built in the late 1990s and early 2000s," Prentice says.

“Not only is the building of a superior quality and situated on a high-profile corner site, the property for sale is well-located at the top of Arrenway Drive, which links Apollo and Triton Drives.

"Apollo Drive is the principal thoroughfare linking Rosedale Road and Constellation Drive, giving the property excellent accessibility to the wider North Shore area," he says.

"The Northern Motorway is easily accessed via the Greville Road interchange to the north or the Upper Harbour Highway interchange to the south.

"Major road improvements currently underway as part of the Northern Corridor Improvements will mean less congestion and the travel time to the city will be about 15 minutes outside of peak hours."

“Rosedale has also recently seen the approval of a $70m bus station upgrade, with work expected to commence in mid-2022 as part of the Northern Corridor Improvements project.

Chand also notes that a good, local labour supply and supporting industry in the immediate area have contributed to the high demand among industrial and office occupiers for premises in this area.

"This is a tightly-held and highly sought-after location which traditionally has had very low vacancy rates despite being one of the fastest growing commercial areas in Auckland. The past 10 years have seen significant growth in the area, and it will continue to be an important employment hub for the foreseeable future.

“Located within one of the Auckland region’s most sought-after locations, with superb transport links and an established market-leading global tenant, the high-quality property at 44 Arrenway Drive will be of interest to buyers looking to secure a trophy income-generating holding in a prime precinct, says Chand.

Related Experts

Shoneet Chand


Auckland North

Shoneet has been involved in selling investment property for over 14 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 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 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 2019,  2020 & 2021 he was ranked in the top 5 brokers nationwide for Colliers and was involved in over $300million,  $325million & $500million of sales in each calendar year respectively. 

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

Notable Transactions over $10m include;

  • Confidential Auckland Transaction (2020) - $110,000,000+
  • 2-4 Fred Thomas Drive, Takapuna -   $60,850,000
  • Albany Industrial Land Sale (2021) - $60,000,000+
  • 33 Corinthian Drive, Albany  -   $50,500,000
  • 21 Hobill Ave, Wiri - $42,100,000
  • 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
  • LEP Childcare Portfolio-   $20,775,000
  • Farro Fresh/ASB Constellation Dr -   $25,500,000
  • Kmart Te Rapa  - $23,750,000
  • 1-11 Parkway Drive -   $21,000,000
  • Noel Leeming, Wairau Park -   $19,000,000
  • 5 The Warehouse Way, Northcote -  $19,000,000
  • 71 Apollo Drive, Mairangi Bay (2021) - $17,550,000 
  • Rapid Labels – William Pickering Dr -  $17,300,000
  • 7-19 Croftfield Lane, Wairau Valley - $17,280,000
  • 16 Dinning Road, Riverhead -  $16,500,000
  • 35-45 The Strand, Parnell -   $16,100,000
  • 44 Arrenway Drive, Albany (2021) -   $15,300,000
  • 151 Lincoln Road, Henderson -    $15,250,000
  • 51 Corinthian Drive, Albany -  $15,150,000
  • 7-21 Kawana Street, Northcote -  $14,998,100
  • 124 Bush Road, North Harbour -   $14,950,000
  • 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
  • 6 Canaveral Drive, Mairangi Bay -   $13,000,000
  • 119-121 Onewa Road -   $12,750,000
  • 3 Monahan Road, Mt Wellington -  $12,680,000
  • 155 Wairau Road, Wairau Valley -   $11,500,000
  • 13 William Pickering Drive, Albany -  $11,400,000
  • 14-18 Lovell Court, Albany -  $10,500,000
  • WCDL Development on Onewa Rd -  $10,250,000
View expert

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