A highly functional building in the sought-after North Harbour Industrial Estate is available for purchase and offers buyers the opportunity to acquire an asset with a steady rental stream.
9-11A Rothwell Avenue, Rosedale is a multi-level office and warehouse building that has 553sq m of total net lettable area and is zoned Business – Light Industry Zone under the Auckland Unitary Plan.
The unit, home to sensor intelligence specialists SICK NZ Limited, offers excellent street frontage and 10 dedicated car parks.
The current occupants began a four-year lease renewal in March, leading to a final expiry of 28 February 2027. The net annual rental income from their agreement is $121,934 plus GST and there are annual CPI rent reviews in place every March for the duration of the lease.
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With an A-grade seismic rating there is peace of mind for prospective purchasers, while the surrounding area remains one of the North Shore’s most desirable industrial locations that benefits from its proximity to the motorway network that can be reached in only a few minutes.
Colliers Directors Ryan de Zwart and Matt Prentice have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Wednesday 29 November, unless sold prior.
Built in the late 1980s, the building sits within a multi-unit development and has a mix of office space and a medium stud warehouse that is accessible via a single roller door. The north and road facing office space is spread over the ground and first floors.
De Zwart, Associate Director of Industrial Sales and Leasing at Colliers, says buyers will be attracted to the strength of the tenant covenant and favourable lease terms.
“SICK is one of the world's leading solution providers for sensor-based applications in the industrial sector. The market-leading company is headquartered in Germany and with more than 50 subsidiaries and equity investments as well as numerous agencies, SICK maintains a presence around the globe,” de Zwart says.
“They have almost 12,000 employees worldwide and generated a group revenue of around EUR 2.2 billion in the 2022 fiscal year.
“Buyers will also appreciate the CPI rental increases in the lease agreement, which offers built-in rental growth.”
The North Harbour Industrial Estate is one of the most established precincts on the North Shore and continually generates strong demand among occupiers and investors.
With a collection of retail outlets and cafes nearby there are plenty of amenities for occupants. Westfield Albany is only 3km away from the subject property.
Prentice, Director of Industrial Sales and Leasing at Colliers, says Auckland’s record low industrial vacancy rates are also prevalent on the North Shore.
“The industrial vacancy rates for prime floorspace in the North Harbour industrial hub is only 0.4 per cent, while the overall vacancy rate for industrial space across Auckland is 1.7 per cent, according to the latest research from Colliers,” Prentice says.
“Industrial property remains in demand among investors given its strong leasing potential due to the ongoing lack of supply in the market, making this property an outstanding investment opportunity.”
Article supplied by Colliers
