A stand-alone dual tenancy property with no body corporate in the sought-after North Harbour industrial precinct is available for purchase for the first time in almost 20 years, giving buyers the opportunity to acquire a functional asset with a steady rental stream.
Located at 21 Tarndale Grove, Rosedale, the property has two self-contained units with a combined net lettable area of approximately 743sq m. The building occupies a 1,258sq m freehold site and has 16 on-site car parks.
Unit A spans 434sq m and is occupied by Fridgetech Marine, while Unit B measures 309sq m and is tenanted by CMD Print Solutions. The total net annual rental income from the property is $175,490 plus GST.
Tarndale Grove is a loop road accessed from Bush Road, with connections through Airborne Road to Rosedale Road and the wider Albany commercial area.
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The property is zoned Business – Light Industry Zone under the Auckland Unitary Plan.
Colliers Brokers Matt Prentice and Ryan de Zwart have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Tuesday 6 October, unless sold prior.
The subject site sits slightly above the road level, benefiting from a northern frontage that supports natural light to the office components. The L-shaped building was constructed approximately 30 years ago and presents in modern condition.
Unit A has approximately 292sq m of warehouse space with supporting office space on the ground and first floors. Unit B has a 195sq m warehouse and additional office space across two floors, as well as a balcony.
Asphalt-sealed accessways, common yard areas, and on-site parking service both units, complemented by perimeter landscaping and efficient vehicle circulation throughout the property.
Prentice, Director of Industrial Sales and Leasing at Colliers, says this asset gives investors the opportunity to acquire a stake in one of the North Shore’s most established industrial hubs.
“It’s rare to find a freehold investment in this area of the North Shore at this price point, and we have a motivated vendor that wants to see all offers presented,” Prentice says.
“The property provides diversified cashflow from two established tenancies that have been operating from this location since 2017 and 2019, respectively.
“The lease agreements include upcoming market rent reviews that will potentially provide future rental growth for the new owner.”
De Zwart, Associate Director of Industrial at Colliers, says the property’s strategic positioning means it benefits from convenient access to the nearby motorway network and commercial amenities, as well as the vast North Shore employment catchment.
“The metropolitan commercial hub of Albany is only minutes away, which is home to the large-scale Westfield Albany shopping centre alongside other high-profile landmarks such as Massey University and North Harbour Stadium,” de Zwart says.
“The surrounding precinct is characterised by quality industrial developments accommodating a broad range of local, national, and international occupiers, making this a compelling purchasing opportunity.”
- Supplied by Colliers
