Coca- Cola Amatil dis­tri­bu­tion cen­tre

Weekend Herald - - TRUE COMMERCIAL -

Coca- Cola Amatil’s North Shore dis­tri­bu­tion cen­tre is for sale, of­fer­ing a chance to ac­quire a tro­phy in­dus­trial in­vest­ment with an es­tab­lished longterm ten­ant.

Col­liers In­ter­na­tional is mar­ket­ing the 3255sq m free­hold prop­erty at 6- 8 Civil Place in Al­bany, for sale by auc­tion. The prop­erty goes un­der the ham­mer on Novem­ber 1, un­less sold ear­lier.

Mar­ket­ing agents Matt Pren­tice, Shoneet Chand and Josh Coburn say this is an A- grade com­mer­cial prop- erty in­vest­ment. “Qual­ity stand­alone in­dus­trial in­vest­ments of this cal­i­bre are rarely of­fered to the mar­ket, es­pe­cially ones that tick all the boxes across the key in­vest­ment cri­te­ria,” says Pren­tice. “This tro­phy in­vest­ment boasts strong ten­ant covenant, a sought- af­ter North Shore lo­ca­tion, a ver­sa­tile mod­ern build­ing, and a longterm lease.”

He says the ware­house and of­fice build­ing was de­signed and built es­pe­cially for Coca Cola Amatil ( NZ) Lim­ited in 2007.

“The com­pany ini­tially signed to a nine- year lease, and re­newed its term last year for a fur­ther nine years,” he says. “The prop­erty i s re­turn­ing $ 315,000 in an­nual rent. Rental re­views ev­ery three years are pegged to the con­sumer price in­dex plus 2 per cent, capped at 6 per cent.”

Pren­tice says the prop­erty has a net let­table area of about 1933.8sq m, ex­clud­ing its canopy and deck.

“The generic high- stud build­ing boasts a de­sir­ably low of­fice to ware­house ra­tio, with some 79 per cent of the build­ing ded­i­cated to ware­house fa­cil­i­ties,” he says. “It also of­fers the peace of mind of a strong 100 per cent IEP seis­mic rat­ing.”

Chand says the prop­erty is within the North Har­bour In­dus­trial Es­tate, a rel­a­tively new but es­tab­lished in­dus­trial area within Auck­land’s ex­pand­ing North Shore.

“The prop­erty forms part of the Al­bany Heights Busi­ness Park, which i s at the east­ern­most side of the North­ern Mo­tor­way, be­tween Con­stel­la­tion Drive and Rosedale Rd.

“The area at­tracts high- cal­i­bre ten­ants, with neigh­bours in­clud­ing 3M, Rex Bion­ics, Wal­lace Cot­ton, HiTech Pack­ag­ing and Pen­guin Books.”

Zoned Gen­eral Busi­ness, the prop­erty is at the end of a cul- de- sac that ben­e­fits from light traf­fic flows.

Chand says it is about 100m east of the in­ter­sec­tion with Ar­ren­way Dr, which links up with two of the area’s main ar­te­rial routes, Apollo Drive and Rosedale Rd.

The ware­house and of­fice build­ing at 6- 8 Civil Place in Al­bany.

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