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West Auckland industrial investment with global tenant covenant

45 Patiki Rd  hero

An established industrial investment underpinned by globally listed tenant Trimble Loadrite is for sale in a tightly held west Auckland location.

The property at 45 Patiki Road in Avondale is for sale by private treaty closing at 4pm on Wednesday 8 April unless sold prior.

Colliers International Directors Shoneet Chand and Matt Prentice are marketing the property alongside industrial experts Dhiru Patel and Andrew Hooper.

Chand says the property provides all the fundamentals of an exceptional investment.

“The property is strategically positioned in a sought-after industrial location.

“It benefits from excellent motorway access and a central Auckland location that’s within 15 minutes of the CBD and 5km from the Waterview Tunnel.

“NASDAQ listed Trimble Loadrite provides an exceptional tenant covenant.”

Prentice says that a committed tenant reinforces the appeal for investors.

“Trimble Loadrite are committed until at least September 2023 with the right to renew for a further two-year term.

“The property is currently returning $450,624 per annum plus GST and OPEX.

“A 3 per cent rental increase will come into effect on 1 October 2021 for the remainder of the term.”

Founded in 1978, Trimble products and solutions are now sold in over 150 countries and the company reported revenue of $3.1b in 2018.

Trimble acquired Loadrite and its parent company Actronic Holdings in 2013.

Loadrite has been operating in New Zealand since 2007 when brothers Steve and Phil Alloway began business as the exclusive distributers, starting in the quarry and mining sectors.

They have since expanded the company in New Zealand to operate in all sectors that Loadrite operate in globally.

Patel says that with 2,347sq m of office and warehousing on a 5,401sq m freehold site, the property is well suited to production and operational management.

“The facility comprises almost 1,000sq m of office space across two floors. The office space was refurbished in 2007 when Loadrite moved into the premises.

“Along with 335sq m of warehousing, the facility also has 384sq m of production space, a mechanical workshop and an electrical workshop.

“It also benefits from a sizeable 27sq m loading canopy, a new cafeteria, 56 car parks and B-train access via a right of way around the neighbouring building.”

Related Experts

Shoneet Chand

Director

Auckland North

Shoneet has been involved in selling investment property for over 13 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
  • 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
  • Rapid Labels – William Pickering Dr -  $17,300,000
  • 16 Dinning Road, Riverhead -  $16,500,000
  • 35-45 The Strand, Parnell -   $16,100,000
  • 44 Arrenway Drive, Albany -   $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

Director

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

Dhiru Patel

Broker | Industrial

Auckland South

Dhiru began his early career as a Tax Consultant for KPMG Tax & Advisory services, following a Bachelor of Commerce from the University of Auckland. After two years at KPMG he returned to the University of Auckland to complete a Bachelor of Property and Valuation, where he found his real passion in property.


 

After a brief stint at Goodwin Property Management, he started with Colliers International in late 2011 as the Industrial Information and Systems Manager for the Highbrook-based Industrial division. In 2012 he we went on to be awarded the Colliers MVP for Team Support, for his work assisting the brokerage team in Highbrook.


 

In early 2014, Dhiru became an Industrial Sales and Leasing Broker; the position he currently occupies today. He specialises in his local area of West Auckland and his expertise lies in Brokerage: Predominately Industrial Sales and Leasing including Investment Sales, Tenant Representation and Land Sales.


 

Dhiru is a Sales and Leasing Industrial Broker who forms a crucial part of the Colliers International Industrial division in Highbrook, Auckland. His clients and colleagues alike, describe his energy and enthusiasm for work as a real asset, and a unique quality that sets him apart. Since joining Colliers 7 years ago, he has transacted a wide range of sales and leasing deals. Listed below are the more recent, notable transactions.

View expert

Andrew Hooper

Director | Industrial

Auckland South

Andrew specialises in mid to upper end industrial sales and leasing projects.  He has excellent relationships within the property market and has transacted over $4b of commercial property at Colliers making him a leading broker in the New Zealand Industrial market.  His clients range from listed property funds such as PFI, Goodman, to syndicates and multinational occupiers/tenants. 

After a brush with brain cancer in early 2017, he is now fully operational and continues to be a top performer at Colliers.

View expert