A well-presented retail unit in a mixed-use commercial development in the northern Auckland suburb of Silverdale is being presented to the market for sale and will appeal to buyers seeking an investment opportunity with steady cashflow.
Unit 3, 1 Alberto Lane, Silverdale, is a stratum in freehold unit that has approximately 81sq m of total net lettable area.
The Dental Group is the tenant, and their 12-year lease began in March 2022 and includes one further right of renewal of eight years, leading to a potential final expiry in 2042.
The property provides $47,156 plus GST and operating expenses in net annual rental income. Future rental growth mechanisms will also catch the eye of investors.
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The wider development was completed by Matvin, a reputable developer with a strong track record, and it occupies an approximately 3,638sq m parent landholding with frontage to Alberto Lane and Hibiscus Coast Highway.
Colliers Brokers Shoneet Chand, Paddy Mackenzie, and Jimmy O Brien have been exclusively appointed to market the property for sale via auction to be held at Colliers North Shore, 1/129 Hurstmere Road, Takapuna at 11am on Tuesday 13 October, unless sold prior.
Chand, Director of Investment Sales at Colliers, says the unit includes one exclusive-use car park and benefits from access to approximately 71 shared customer car parks across the wider development.
"Completed in 2021, the development features a complementary mix of medical, food and beverage, fitness, retail, and commercial occupiers and it is strategically positioned within Silverdale's established commercial gateway precinct," Chand says.
"The property enjoys excellent accessibility to the Northern Motorway interchange and the Hibiscus Coast transport hub.
"The Dental Group offers a strong tenant covenant as part of a fast-growing national dental network of more than 25 practices across New Zealand.
"Their lease includes 2 per cent fixed annual increases providing built-in rental growth. There are also future market rent reviews scheduled for 2028, 2034, and 2038."
Silverdale, which sits approximately 30km from Auckland CBD, has rapidly emerged as an appealing coastal suburb.
Mackenzie, Investment Sales Broker at Colliers, says Silverdale is well served by improving infrastructure and a host of major retail brands have established a presence in the area.
"Positioned to service the rapidly expanding Silverdale, Millwater, Milldale, and wider Hibiscus Coast communities, the property enjoys excellent accessibility and connectivity to key transport routes," Mackenzie says.
"The Silverdale story across the past decade has been one of growth, with a notable jump in population that will contribute to an ongoing demand for commercial and medical services in the future."
O'Brien, General Manager at Colliers Auckland North, says the property represents a desirable entry-level investment in a busy location.
"This purchasing opportunity has many of the key fundamentals investors are seeking. There is an established tenant in a modern premises with future rental growth built into the lease agreement," O'Brien says. "This offering ticks plenty of boxes."
- Supplied by Colliers
