A highly functional industrial premises in Albany on Auckland’s North Shore is being offered to the market for sale and will appeal to owner-occupiers and investors.
Unit 2, 40 Canaveral Drive is located in the Rosedale industrial precinct and has 1,247sq m of total lettable area. There are also 17 dedicated on-site car parks.
The current occupant, CDK Stone, has a final expiry of 31 October 2025 giving a clear timeline for vacant possession of the property. The current lease agreement returns $215,000 plus GST and operating expenses in net annual rental income.
Benefitting from a road-front position that provides plenty of street exposure, the motorway network is readily accessible offering connectivity across the wider Auckland region.
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The stratum in freehold property is zoned Business – General Business Zone under the Auckland Unitary Plan.
Colliers Directors Matt Prentice and Shoneet Chand have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Tuesday 29 October, unless sold prior.
The property comprises 1,016sq m of warehouse area with a stud height of 6.1m at the knee and 209sq m of office and showroom space that is split across two floors. This high warehouse to office ratio adds to the appeal of the offering.
Prentice, Director of Industrial Sales and Leasing at Colliers, says he expects a range of purchasers to have an interest in this property given its combination of modern construction and future vacant possession, all in a tightly held location.
“Owner-occupiers will have the opportunity to acquire a highly functional building for their own business operations and could control their own destiny without being tied to a lease,” Prentice says.
“The holding income in place means any potential owner-occupier who is interested in this property can enjoy the steady rental stream before moving in themselves.
“Investors will see an asset that could serve a new long-term tenant incredibly well and there is scope to grow the rental income based on market estimates from Colliers.”
Chand, Director of Investment Sales at Colliers, says the location benefits from being surrounded by a complementary mix of commercial operators and sought-after amenities.
“Canaveral Drive is in crescent form linking through to Triton Drive in two points. A wider mix of property types is found on Triton Drive, including two retail shopping complexes with various food and service outlets, similar superior quality industrial buildings, and modern low-rise office buildings,” Chand says.
“Excellent access to the Northern Motorway complex is available via Constellation Drive or the Tawa Drive on-ramp that is only a few minutes away. Auckland’s CBD can be reached in approximately 15 minutes except during peak hours.
“The subject location is not far from the centre of Albany that is home to a major shopping centre, Massey University, and extensive residential development.”
Prentice says when weighing all of the pertinent factors regarding this property it is a purchasing opportunity that warrants serious consideration.
“This offering represents the chance to secure a top-quality modern industrial unit in a desirable location. We encourage all interested parties to reach out to us to discuss their options.”
- Supplied by Colliers
