An industrial unit on a high-profile road in Albany is available for purchase and will pique the interest of owner-occupiers or investors seeking a low-maintenance and versatile asset.
5C Apollo Drive, Albany has 658sq m of total building area that includes a blend of warehouse, showroom, and office space. The property has a top-quality internal fit-out and is part of a professionally managed complex that spans nine units.
The stratum in freehold property is tenanted by premium tea company Tea Total. The existing lease has a final expiry of 30 April 2027; however, an early termination has been requested by the tenant from 1 May 2026 to the discretion of the vendor at the time or assigning/subleasing the premises until the final lease expiry date. The annual rental income from the property is $139,625 plus GST and operating expenses.
The building benefits from its prime road-front position and has 12 dedicated car parks.
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Apollo Drive is situated in the business heart of the Mairangi Bay precinct that is an active commercial hub with a mix of corporate offices, light industrial businesses, and high-profile retail brands.
The property is zoned Business - General Business Zone under the Auckland Unitary Plan. The zoning supports a range of business activities, including large format retail, trade suppliers, light industry, and small-service activities.
Colliers Brokers Ryan de Zwart and Janet Marshall have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Wednesday 19 November, unless sold prior.
Originally constructed in the late 1980s, the configuration of the property provides a 248sq m warehouse, 192sq m of ground floor showroom and amenities space, and 150sq m of further office space on the first floor. There is also a mezzanine storage area.
De Zwart, Associate Director of Industrial at Colliers, says prospective purchasers have the chance to acquire a property in a tightly held North Shore location.
"Investors will appreciate the existing rental stream and can explore opportunities around negotiating a new lease with a new tenant," de Zwart says.
"For owner-occupiers, this property gives them the opportunity to secure their own premises. With the existing tenant there is holding income in place and facilitating an early termination of the existing lease means an occupier could take over the facility from as early as next May."
The latest research from Colliers highlights the overall vacancy rate for industrial property in Auckland is 2.2 per cent, which is notably low by historical standards.
This reflects the continued demand for industrial space around the city as the sector remains resilient, despite the economic challenges experienced in New Zealand this year.
Marshall, Director of Sales and Leasing at Colliers, says the subject location offers access to key transport links as well as public transport options.
"Major arterial route Constellation Drive is nearby, while motorway access is only a few minutes away via multiple interchanges. Bus transport options offer convenience for commuters," Marshall says.
"The surrounding area is populated by cafes, quick-service restaurants, childcare centres, and other established businesses, meaning many of the daily amenities required by workers are easily reached.
"This property also enjoys a high level of exposure to passing traffic making it ideal for a future occupant or tenant seeking brand presence and visibility."
- Supplied by Colliers
