A stand-alone industrial building in Arrenway Drive on the North Shore is being presented to the market for sale, giving buyers the opportunity to purchase a facility with an established tenant and a steady rental stream.
The multi-level facility has 837sq m of total lettable area and offers 15 on-site car parks, ensuring convenience for customers and suppliers.
Sitting in a highly visible position at 52A Arrenway Drive in the industrial hub of Rosedale in Albany, the building is tenanted by Simpson Strong-Tie New Zealand Limited, which has occupied the site for over a decade and has approximately four years to run on its current lease.
The agreement provides $215,000 plus GST in net annual rental income.
Start your property search
Arrenway Drive connects with Apollo Drive, providing convenient access through to Constellation Drive and the wider motorway network. The Northern Motorway is readily accessed via the Greville Road interchange or the Constellation Drive and Upper Harbour Highway connections.
The property is zoned Business – General Business Zone under the Auckland Unitary Plan.
Colliers Brokers Matt Prentice, Jack Tuson, and Mike Ryan have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Tuesday 29 September, unless sold prior.
Developed by the Kea Group, the property has a strong street presence and is easily accessible from Arrenway Drive. The building comprises 160sq m of office and showroom space on the ground floor while the first floor office spans 200sq m.
The warehouse is functionally designed and measures 447sq m with a stud height recorded at approximately 6.5m to 8m.
Prentice, Director of Industrial Sales and Leasing at Colliers, says the property has been well maintained and purposefully configured, making it a highly reliable premises for its multinational tenant.
“This offering gives buyers the chance to acquire an asset with a long-term occupant that remains committed to the location with the existing lease agreement providing continued cashflow for the coming years,” Prentice says.
“Opportunities to secure stand-alone industrial investments of this calibre in Albany are seldom presented to the open market and astute buyers will recognise the investment fundamentals on offer.”
Tuson, Director of Industrial at Colliers, says the strength of the tenant covenant is one of the major selling points of this purchasing opportunity.
“Simpson Strong-Tie New Zealand is the New Zealand subsidiary of Simpson Strong-Tie, which is listed on the New York Stock Exchange, providing confidence in the tenant covenant for buyers,” Tuson says.
“The firm is a global leader in the manufacturing and supply of structural building products, including timber connectors, fastening systems, anchors, and lateral force-resisting systems.”
The wider Albany area provides access to extensive retail, hospitality, and business amenities, including Westfield Albany, North Harbour Stadium, and Massey University. Auckland CBD is approximately 15 minutes away outside peak traffic conditions.
Ryan, Industrial Sales Broker at Colliers, says the surrounding area is home to a number of high-profile commercial and industrial businesses and remains keenly sought by landlords and tenants.
“Many of Albany’s key amenities can be reached in just over five minutes, while firms based in this busy industrial hub value its accessibility to the nearby motorway network,” Ryan says.
“Industrial assets continue to generate demand among buyers, and the subject property has an appealing combination of factors that will catch the attention of purchasers given this is a high-quality asset with an established tenant and a steady income stream.”
- Supplied by Colliers
