The land and buildings of a prominent freehold site with a national-brand tenant in a popular North Harbour industrial precinct present a unique opportunity for buyers looking for high-quality assets with long-term upside.
2C William Pickering Drive in Albany is a 3895sq m property comprising a modern warehouse, offices, showroom, and canopy, with 60 carparks on a 5580sq m corner site that has excellent access to the surrounding transport links.
Fujifilm New Zealand Pty Ltd, a leading force in the distribution of imaging equipment and services to the photographic, medical, and graphic systems markets, recently signed a new six-year lease for the premises beginning this month that provides a total net rental income of $619,113 plus GST per annum.
The lease has a final expiry of August 2027 and provides market reviews on 20 August in 2022, 2024 and 2026. The rear portion of the first-floor office space is configured as a separate tenancy and is sub-leased to international tenant Heidelberg.
Start your property search
Colliers directors Jimmy O’Brien and Matt Prentice have been exclusively appointed to market the property for sale by deadline private treaty closing Tuesday 14 September, unless sold prior.
Originally constructed in 1994, the warehouse was extended in 2007, while the offices were upgraded five years later. This is the first time the property, which is fully-sprinklered and has an A grade seismic rating, has been placed on the market in 22 years.
The 3895sq m building comprises a 1708sq m warehouse, 371sq m warehouse extension, 835sq m of ground-floor office space, 466sq m of first-floor office space, 72sq m of mezzanine and 125sq m of canopy; Heidelberg sub-leases 317 sq m of first-floor office space.
O’Brien says the highly functional building features modern offices with a spacious warehouse that has a stud height of 6m at the knee, rising to 7m at the apex.
“The vendors have meticulously maintained the property during the past two decades and it is immaculate in its presentation. The warehouse has two canopy-covered roller doors allowing good flow and truck access to the site,” O’Brien says.
“With a generous 60 onsite car parks and dual entrances from both Bush Road and William Pickering Drive, parking and traffic flow is a breeze. Investors should not miss this opportunity to own arguably one of the best Industrial buildings on the North Shore.”
Prentice says the high-profile corner site is strategically located in a busy part of North Harbour’s commercial sector.
“This area is very popular for progressive companies due to the high standard of surrounding developments, a quality working environment, and access to transport links. There’s also a number of affluent suburbs close by,” Prentice says.
“William Pickering Drive is one of North Harbour’s main arterial routes, while it also benefits from excellent access to the Northern Motorway. Takapuna is only 10 minutes away, while to the north, Albany’s main commercial precinct can be reached in five minutes.”
The property is zoned as Business - Light Industry Zone under the Auckland Unitary Plan. This zoning anticipates industrial activities that do not generate objectionable odour, dust or noise. This includes manufacturing, production, logistics, storage, transport and distribution activities.
- Article supplied by Colliers
