The land and buildings of an industrial property in the sought-after Auckland suburb of East Tāmaki are being presented to the market for sale and will catch the attention of prospective purchasers searching for a high-quality passive investment opportunity.
Located at 5 Sir William Avenue and 10 Barmac Place, the property has 6,800sq m of total net lettable area on a freehold site that is spread across two titles with a total landholding of 12,449sq m.
Sitting in the heart of East Tāmaki, the property is home to Integrated Packaging New Zealand, a wholly owned subsidiary of Goodstone International Pty Ltd.
Integrated Packaging agreed a new nine-year lease in November 2024 and has two further rights of renewal for nine years each leading to a final expiry of 31 October 2051.
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The total net annual rental income from the property is $1,230,178 plus GST and the lease agreement includes 2 per cent fixed annual increases and three-yearly market reviews with the next due in 2027.
There is dual access available and the property sits approximately 100m north of the intersection of Sir William Avenue and Lady Ruby Drive and on the western side of Barmac Place.
The well-populated Highbrook Business Park is 2.7km away, while the motorway can be reached in only a few minutes, providing connectivity to the wider Auckland region.
The property is zoned Business-Light Industry Zone under the Auckland Unitary Plan.
Colliers Directors Greg Goldfinch, Paul Higgins, and Paul Jarvie have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Wednesday 18 June, unless sold prior.
This large industrial manufacturing and warehousing complex comprises the original 2,161sq m warehouse/office that was constructed in the late 1980s with the additional modern buildings constructed in the early 2000s.
The main offices for 5 Sir William Avenue front the road with the original warehouse adjoining to the rear. The warehouse offers clear span accommodation with a stud height of approximately 5.5m at the knee rising to 6.5m at the apex.
The landholding of 5 Sir William Avenue spans 5,835sq m and at the rear of the site is a modern warehouse with adjoining canopy to a stud height of 8m at the knee rising to 9.1m at the apex.
Sitting on a site measuring 6,614sq m, 10 Barmac Place comprises both medium and high stud warehouse accommodation with adjoining warehouse offices and amenities. Canopies are on each of the eastern and western elevations of the improvements.
Goldfinch, National Director of Industrial at Colliers, says the subject property is a top-tier asset that will provide a steady rental stream.
"The lease agreement includes favourable terms that will be highly attractive to buyers and this property includes key fundamentals that investors are searching for," Goldfinch says.
"This well-presented property provides the current occupants with an excellent mix of office and warehouse accommodation."
Higgins, Director of Industrial at Colliers, says this purchasing opportunity offers buyers the chance to secure a prime asset that is underpinned by a strong tenant covenant.
"Integrated Packaging has made a long-term commitment to the location as indicated by the length of their lease and they have been in operation in New Zealand for more than 30 years," Higgins says.
"With two manufacturing sites and more than 100 staff, they are a large firm that serves a broad customer base across the country."
Jarvie, Director of Industrial at Colliers, says East Tāmaki is an A-grade industrial location in Auckland that benefits from its proximity to key transport networks.
"The suburb is home to a number of national and international firms such as Fisher & Paykel Healthcare, DHL, and Panasonic, among others, and according to the latest research from Colliers the vacancy rate for prime industrial floorspace in East Tāmaki is only 0.9 per cent," Jarvie says.
"This low vacancy figure shows the continued demand for industrial property in the area and this premier offering is one that will appeal to discerning investors."
- Supplied by Colliers
