An office and warehouse building in the sought-after industrial hub near Rosebank Road in the West Auckland suburb of Avondale is being presented to the market for sale.
15 Fremlin Place, Avondale has 800sq m of total net lettable area on a 1,148sq m site that is zoned Business – Light Industry Zone under the Auckland Unitary Plan.
The property is occupied by Blastquip, who are operating as Blastone and are New Zealand’s leading supplier for the abrasive blasting and industrial coating industry.
Blastquip is a family owned and operated business. They specialise in and have been supplying New Zealand’s abrasive blasting, coating, and corrosion control industry for the past 30 years.
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Their lease agreement has a final expiry of 15 January 2027 and the net annual rental income from the property is $147,921 plus GST. A market rent review is due in January 2025.
A concrete paved driveway and 435sq m asphalt sealed yard is situated at the front of the site, with 10 staff and visitor car parks allowing for good container access or yard use.
The subject property sits just off Rosebank Road, offering convenient access to State Highway 16. This location is keenly sought by industrial operators given its connectivity to the airport via the Waterview Tunnel and Auckland’s CBD and port.
Colliers Brokers Dhiru Patel, Brad Johnston, and Nelson Raines have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Wednesday 25 September, unless sold prior.
Originally built in the 1970s, the property, which benefits from 18m of road frontage to Fremlin Place, underwent a significant refurbishment in 2013, including the roof being fully replaced.
The 574sq m warehouse sits to the rear of the property and has a stud height of 4.8m at the knee, rising to 6.15m at the apex. Access is via a roller door to the front, with a small canopy extending over top.
The offices are spread over two levels. The main front entrance provides access to a lobby area with a staircase that leads to the first-floor offices, which span 106sq m. The 109sq m main office area comprises a mix of open plan and partitioned spaces, as well as a showroom and modern amenities.
Patel, Associate Director of Industrial at Colliers, says the property will catch the eye of owner-occupiers and investors who will both have interest in this well-maintained asset.
“Given the final expiry of the lease for the existing occupants is in just over two years, the new owner may wish to utilise the premises for their own operations and not find themselves bound to a lease,” Patel says.
“Alternatively, investors could choose to acquire the property and tenant it accordingly and we are confident there would be no shortage of interest among prospective occupants.
“The most recent research on industrial vacancy rates from Colliers notes there is next to no available prime industrial floorspace in the Rosebank/Avondale precinct.”
Johnston, Director of Industrial at Colliers, says the location will be a major drawcard for interested parties.
“The Rosebank Peninsula is an in-demand industrial location given its accessibility to vital infrastructure and transport components of the city,” Johnston says.
“This hub is home to a number of established industrial operators, including Allegion, Rheem, Bunnings Trade, and Autex.”
Raines, General Manager of Colliers West Auckland, says the combination of being able to acquire a refurbished property in an attractive location makes this a compelling purchasing opportunity.
- Supplied by Colliers
