Multinational tenant near Auckland Airport
A newly refurbished commercial investment property with a multinational head tenant and exposure to the main route from Auckland International Airport is on the market.
Colliers International is selling 14 Amelia Earhart Avenue, Airport Oaks, for sale by deadline private treaty.
Offers on the 3887sq m freehold property close at 4pm on Tuesday May 29, unless sold prior.
In the heart of Auckland’s airport precinct, the property comprises a 1257sq m office building over two levels and 59 car parks.
Colliers International Director Brad Johnston, marketing the property with colleagues Paul Jarvie and Matthew Barnes, says investors will be attracted to the property’s solid fundamentals.
“This is a chance to acquire a toptier commercial property investment with strong tenant covenant, built-in rental growth, and a superb location with huge exposure to passing traffic.
“The head tenant is dual-listed services company Downer, which has more than 56,000 employees worldwide.
“The property is sublet to Fortlock Security Systems, which provides security management services to some of New Zealand’s largest organisations.
“The 12-year lease returns $336,186 plus GST in annual rent, with annual rental reviews to CPI. Two rights of renewal of five years each extend the total lease term until mid-2032.
Jarvie says Amelia Earhart Avenue is a commercial road off Richard Pearse Drive, some 3.3km from the airport and 25km from the CBD.
“The property backs on to George Bolt Memorial Drive, the main arterial route between the Southwestern Motorway (State Highway 20) and the airport,” he says.
Jarvie says the two-level office building was recently refurbished.
“It features a reception and foyer on the ground floor, with stairs and a lift. The office space has open plan and partitioned offices with meeting rooms, and a large lunchroom.
“The site offers full drive-around capabilities with plenty of parking for staff and customers.”