Three highly visible office and warehouse units in a tightly held industrial location on Auckland’s North Shore are being offered to the market for purchase for the first time since they were built.
The units are located at 5 Beatrice Tinsley Crescent, Rosedale on a single title.
Unit A is available with vacant possession while Units B and C have existing tenants in place, returning a combined total annual rental income of $171,000 plus GST and operating expenses.
The total floor area across the three units is 1,494sq m and they sit on a 2,440sq m freehold site that is zoned Business – Light Industry Zone under the Auckland Unitary Plan.
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The units occupy a prominent position on the corner of Beatrice Tinsley Crescent and Ride Way in an area that has been intensively developed during the past 15 years.
There are 26 dedicated car parks at the property.
State Highway 18 is readily accessible via the key arterial routes in the area. The vacancy rates for prime industrial floorspace in the North Harbour precinct is only 1.7 per cent, according to recent research from Colliers, indicating a lack of industrial space in the locality.
Colliers Director Matt Prentice and Laurie Burt from Bayleys have been jointly appointed to market the units for sale via deadline private treaty closing at 4pm on Tuesday 5 March, unless sold prior.
Unit A has 737sq m of total floor area, including office space on the ground and first floors, warehouse space, and mezzanine storage.
This unit has access to 14 car parks and would suit a range of future occupants with market estimates from Colliers suggesting the total net annual rental income would be approximately $162,000 plus GST. This unit is being advertised for lease concurrently.
Unit B has 293sq m of floor area and offers warehouse and office space as well as five car parks. The unit is tenanted by first aid training provider Triple One Care.
They currently occupy the property on a four-year lease that runs until January 2026 and there is one further right of renewal for four years in place. There is a market rent review due in January 2027.
Unit C spans 464sq m and is occupied by construction firm Stop Digging. Their current lease runs until January 2026 and there is one further right of renewal for two years. A market rent review is scheduled for when the renewal is available.
Prentice, Director of Industrial Sales and Leasing at Colliers, says prospective purchasers have a range of options available to them through these units.
“With one of the units available to be occupied immediately, a buyer may choose to utilise that space for their own operations and enjoy the passive income on offer from the neighbouring units,” Prentice says.
“The other side of the equation means a buyer may choose to secure a new tenant for the property and there would likely be a number of interested parties given the lack of industrial space across Auckland.”
Burt, Industrial Manager at Bayleys, says Rosedale and the wider North Harbour Industrial Estate continues to generate demand among tenants and landlords.
“This popular location has developed rapidly and is now one of the most sought-after industrial locations on the North Shore and the subject property is surrounded by a range of established occupants. Purchasing opportunities such as this one are not to be missed,” Burt says.
“We encourage all potential buyers to contact us immediately so they can explore their options around securing a strategic asset situated in a tightly held, high growth area.”
- Supplied by Colliers
