A top-tier stand-alone office and warehouse building in the tightly held North Harbour Industrial Estate in Auckland will draw the interest of buyers looking to secure a premier asset for their portfolio.
221A Bush Road, Rosedale has 2,961sq m of total building area on a 4,265sq m freehold site that is zoned Business – Light Industry Zone under the Auckland Unitary Plan.
This trophy building is home to Forbes & Davies (NZ) Ltd, one of New Zealand's oldest and largest wholesale distributors of tyres, accessories, apparel, and aftermarket parts for the motorcycle, powersports, and cycle industry.
They recently began a new six-year lease that returns $620,000 plus GST and operating expenses in net annual rental income. The lease agreement includes built-in annual rental growth, with regular market reviews throughout, providing significant appeal for investors.
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The property has a commanding street presence, offers a high warehouse to office ratio, and includes 33 car parks, creating convenience for occupants, suppliers, and clients.
This prime location means key arterial routes such as William Pickering Drive and Albany Highway are readily accessible, while the motorway network is nearby offering connectivity west, north, and south.
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 30 April, unless sold prior.
The well-maintained building offers three roller doors for access to the 6m–7m high stud warehouse component of the building. The tidy offices are highly functional and meet the demands of the occupants.
Prentice, Director of Industrial Sales and Leasing at Colliers, says the strength of the tenant covenant is a major drawcard for this compelling purchasing opportunity.
“Forbes & Davies have been trading in New Zealand for more than 75 years and their parent company MotorCycle Holdings Limited is publicly listed on the Australian Stock Exchange,” Prentice says.
“While they do not sell directly to the public, they have a network of hundreds of dealers throughout New Zealand and the Pacific Islands, making them a highly impressive international enterprise.
“This is a property that will catch the eye of astute investors given it has the sought-after factors of a low maintenance premises with an ASX-listed tenant that is signed to a lengthy lease in a prime location.”
Industrial assets continue to be in demand among buyers owing to their strong investment fundamentals and a continued lack of supply of industrial space across Auckland.
Recent research from Colliers notes an overall vacancy rate of only 1.8 per cent for industrial space and the vacancy rate for prime industrial space in the North Harbour precinct is only 1.7 per cent, which is the lowest on the North Shore.
Chand, Director of Investment Sales at Colliers, says the subject property is located in an area that continues to pique the interest of buyers and tenants.
“Due to its ease of access and surrounding amenities, the North Harbour Industrial Estate remains one of the premium locations for commercial activity on the North Shore,” Chand says.
“There’s a collection of prominent businesses in the surrounding area, including Crown Relocations, Hydroflow, and Fujifilm NZ, with a host of popular local firms also performing strongly.
“This is a premium property that shapes as a hands-free investment of the highest quality.”
- Supplied by Colliers
