A fully leased, modern office investment with three tenants is for sale just two minutes from Auckland’s thriving Sylvia Park commercial and retail hub.
Colliers International is marketing 4E Pacific Rise, Mount Wellington, for sale by deadline private treaty closing at 4pm on Thursday 15 November, unless it sells earlier.
The 820sq m freehold property comprises a two-level office building with seven covered and 14 uncovered car parks on favourable leases returning $191,000 plus GST in net annual rent.
Gareth Fraser, Auckland Director of Investment Sales at Colliers, says it is a chance to acquire fully occupied investment property in an excellent location within the coveted Mount Wellington business precinct.
“Prominently positioned with easy access to State Highway 1 and main arterial routes, this split-risk investment offers excellent amenity, with Sylvia Park only two minutes’ drive away.
“Kiwi Property has invested heavily in the area in recent years, with its new Sylvia Park office complex drawing more business to the area in addition to its well-established shopping centre.”
Colliers Broker Simon Child says the location is superbly poised between Auckland’s CBD and the popular East Tamaki industrial area, drawing on a wide catchment from the city’s centre, east and south.
“With three solid tenants, a high-quality modern build and 100 per cent occupancy, this is a real bottom-drawer passive investment.”
Insomnia Security occupies the 410sq m ground floor. The company is signed to a six-year lease with a further six-year right of renewal returning $96,000 in annual rent.
The first floor tenants, Accomplish and STP Group, occupy 205sq m each. They are signed to three-year leases returning $49,500, with further three-year rights of renewal each.
The property is constructed of reinforced concrete foundations and floors supported by concrete columns and beams, with long run galvanised roofing.
The main entrance is via a lobby at the front with dual access from the car park at the rear. The ground and first floor are serviced by a stairwell and lift.
Anchor tenant Insomnia is a New Zealand-based specialist information security company with niche technical skills, including high-quality penetration testing.
Accomplish was established in the 1990s and remains a leading New Zealand business and accountancy software provider.
STP Group is a building consultancy, chartered engineering and registered architectural services firm.
The property is within 10km of Auckland’s CBD and next to both of Auckland’s busiest arterial routes, State Highway 1 and Great South Road.
It is surrounded by the suburbs of Stonefields, Panmure, Penrose and Ellerslie.
The property has an excellent level of on-site parking and benefits from the many bus routes that service the area, as well as the Sylvia Park Train Station, which is within easy walking distance.
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