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.
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.