Coca- Cola Amatil distribution centre
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.