Completed in late 2020, a distinctive and award-winning building designed by Ignite Architects sits proudly above the Northern Motorway at 55 Corinthian Drive, Albany.
From concept to completion the owner was challenged to create a sustainable, ascetically pleasing, invigorating workplace, while incorporating cutting edge technology.
Rising to that challenge, 55 Corinthian Drive is a juxtaposition of beauty, sustainability, dynamic functionality, and design.
Entering the building from the busy street you are immediately enveloped in an oasis of tranquillity and calm created by the soaring atrium, native planting, and filtered natural light.
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Just 800m from Westfield Albany, this architecturally designed property is currently the only 5 Green Star Design and As Built-rated building on the North Shore and has sparked interest in long-term sustainability with both tenants and visitors alike.
Tenants have been quick to commit to a number of initiatives, including energy and water consumption measures and monitoring, careful management of waste and recycling, and the use of low impact paint, carpet, and paper and cleaning products.
All water except drinking water is collected from the roof of the car park and is filtered and reused utilising a 30,000-litre tank.
Dedicated end of trip facilities and ample bike parking allow for an environmentally friendly commute.
All of these initiatives have been designed to reduce the carbon footprint of the building with progress available for viewing on public screens in the atrium.
Angled gold fins cleverly conceal most of the 278 car parks in the adjoining connected car park building with EV chargers on all but one level.
Colliers Directors Jason Seymour, Richard Kirke, and Matt Prentice have been exclusively appointed to market the property for sale by deadline private treaty closing at 4pm on Tuesday 15 November, unless sold prior.
The property has 6,830sq m of total floor area and sits on a 7,864sq m freehold site that is zoned Business – Business Park Zone under the Auckland Unitary Plan.
The multi-level building is home to premium anchor tenants BNZ and the Accident Compensation Corporation (ACC) with an overall weighted average lease term of 7.9 years as of August 2022.
The ground floor has 1,060sq m of office space and 866sq m of retail area. The ground floor houses the ACC tenancy, a cafe, and an incoming dental clinic. Levels 1-3, which cover approximately 1,635sq m each, are accessed via three lifts.
Level 1 has a six-year vendor lease in place offering the new owner the income security of a fully leased building but with the flexibility to accommodate new tenants looking for premium quality office space in Albany.
Levels 2 and 3 are leased by BNZ, with Deloitte currently completing its fit-out on approximately half of Level 2 as a subtenant of BNZ.
Seymour, Director of Capital Markets at Colliers, says the property offers an exceptional tenant profile and when combined with structured annual rental growth and market reviews in one of Auckland’s premium office buildings, it forms the foundation of a compelling long-term investment.
“There is a really strong tenant covenant with this property underpinned by the banking, government, and medical sectors.”
Kirke, International Sales Director of Capital Markets at Colliers, says: “This property is well-suited to occupiers that place value in their environmental, social, and governance strategies and have an eye to the future.”
- Article supplied by Colliers
