Cabinetry base ‘plane good value’
An established cabinetry business, Fyfe Kitchens, is selling its head office and manufacturing base of more than 40 years.
The proposed sale of the 5702sq m freehold property at 60 Allens Rd heralds development possibilities in this tightly-held part of East Tamaki.
It is near Highbrook Business Park, considered Auckland’s premier industrial location.
Site coverage of only 20 per cent offers abundant redevelopment potential, while a two-year leaseback to Fyfe provides useful holding income, while the successful purchaser plans their next move.
Colliers International industrial specialists Paul Higgins and Joshua Franklin describe a once-in-ageneration opportunity to market. The property is for sale by deadline, with offers closing at 4pm on December 5, unless it sells earlier.
Higgins says it is extremely rare to find such a large, underutilised landholding so close to Highbrook.
“There are flexible options, holding income and the ability to develop part of the site immediately.
“It comprises a 980sq m warehouse, showroom and office at the front of the site, with an undeveloped circa 2500sq m block of level land at the rear. Dual-access down either side of the building provides full drivearound-capability, making the property ideal for future development, expansion or split-tenancies. The building at the front is for sale with a twoyear leaseback to Fyfe, returning $110,000 plus GST in net annual rent — from settlement. Undeveloped land at the rear is being sold with vacant possession, allowing the new owner immediate use,” says Higgins.