A modern industrial premises in the sought-after suburb of East Premier industrial investment in East Tāmaki is being offered to the market for sale and presents buyers with the opportunity to secure a near-new building with a 10-year lease in one of Auckland’s best locations.
28 Barmac Place offers a dual access, high stud 1,505sq m building on a 2,364sq m freehold site that will be seen by many passive investors as a safe and secure long-term asset.
The property, built in 2018 by renowned construction firm Euroclass, is home to Hydestor Shelving Limited which has been operating in New Zealand since 1989.
Underpinned by a triple net lease with all maintenance to be paid by the tenant, a 10-year lease term is in place that will begin on settlement. The lease will provide the new owner with fixed annual increases and market rent reviews.
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The lease agreement will return $375,000 plus GST in net annual rental income.
The property is a functional building with two roller doors and fenced access with a container area. It provides 16 dedicated car parks while having access from both Lady Ruby Drive and Barmac Place.
The award-winning Highbrook Business Park is nearby, while the State Highway 1 on-ramp is only 4.5km away. It sits within a highly coveted part of East T?maki and is surrounded by quality buildings and tenants.
Colliers Directors Greg Watson, Greg Goldfinch, and Josh Franklin have been exclusively appointed to market the property for sale via auction to be held at 11am on Wednesday 20 November at Colliers Highbrook, Level 1, 52 Highbrook Drive, East T?maki, unless sold prior.
The tilt slab warehouse spans 1,130sq m and has a stud height of 8m at the knee rising to 9m at the apex. It also has drive-through capabilities via two 5m high roller doors.
There is 375sq m of office and amenities space spread across two levels that includes a reception area, open-plan office, partitioned meeting rooms, kitchenette, and a staff room.
The concrete sealed driveway and yard provide ample space for vehicle movements. Additionally, there is a 185sq m canopy with LED bay lighting providing for all-weather loading and unloading.
Watson, Associate Director of Industrial at Colliers, says the functional property has been constructed to a very high standard making it a low-maintenance asset.
“Properties of this size and quality are rarely available for lease or sale and when they do come on the market, they attract strong demand from buyers of all kinds,” Watson says.
“The lack of available industrial land across the broader Auckland region and high construction costs have led to an overwhelming shortage of properties of this size in the market.”
Goldfinch, National Director of Industrial at Colliers, says the favourable lease terms and strength of the tenant covenant add to the appeal of this offering.
“Hydestor Shelving is a Kiwi-owned business with 35 years of trading history and they specialise in the development, supply, and installation of adjustable, powder-coated steel shelving and storage systems,” Goldfinch says.
“Their lease agreement includes 2.75 per cent fixed annual increases and five-yearly market reviews to provide built-in rental growth for the new owner.”
Franklin, Director of Industrial at Colliers, says recent research from Colliers indicates how tightly held the East Tāmaki industrial precinct is.
“The vacancy rate for prime industrial space in East Tāmaki is only 0.4 per cent, which exemplifies how in-demand this popular location is, owing to its favourable transport connections and proximity to other prominent industrial locations,” Franklin says.
“Auckland Airport is only 14km away, while the CBD can be reached easily via the motorway network making this a prime area to operate from.”
- Supplied by Colliers
