Top-grade industrial neighbours in Rosedale
Two prominently positioned adjoining units in the popular North Shore industrial hub of Rosedale are being offered to the market.
Unit A and Unit B ,22 William Pickering Drive, have a combined net let table area of 2171 sq mon an elevated 3404sq m site zoned Business–Light Industry under the Auckland Unitary Plan.
The stratum in freehold properties, which can be purchased individually or in one line, have a strong street presence and are highly functional with a generic layout that makes them serviceable for their existing occupants.
The total annual rental income from the properties is $501,321 plus GST and outgoings with both units housing long-term occupants from the science sector.
Sitting in a strategic location, the properties offer excellent access to the northern motorway complex via the Upper Harbour Drive interchange or Tawa Drive. Travelling to and from Auckland CBD would take approximately 15 minutes, except during peak hours.
Colliers brokers Matt Prentice and Mike Ryan are marketing the properties via deadline private treaty closing 4pm, Tuesday March 26, unless sold prior.
The units have excellent access and container drop areas.
The recently refurbished Unit A spans 1034sq m and houses Auckland BioSciences, an award-winning New Zealand-owned and operated company, with offices and production sites Australasia-wide.
Unit A offers 387sq m of warehouse space and ground and first-floor offices each measuring 304sq m. There is also a 38sq m courtyard and 20 carparks.
Auckland BioSciences recently began a new 10-year lease that will run until January 2034. There are two further rights of renewal for five years each in place. Total net annual rental income is $251,195 plus GST.
Metagenics, a leading natura l he alth science company, is the tenant at Unit B, which has 1176sq m of space. The warehouse measures 436sq m, while there is a ground-floor reception area, a 372sq m first-floor office, and 306sq m of low-stud workspace. They also have access to 19 ca rp arks.
They have been in occupation since 2008 and began their most recent five-year renewal in June 2021. There are two further rights of renewal for eight yea rse ach available, leading to a final expiry of May 2042. Their lease agreement provides $250,126 plus GST in net annual rental income.
Prentice says this is a first-ra tep assive investment opportunity. “Buyers will be attracted to this offering that comes with a strong tenant covenant owing to the long-term leases of both occupants who have a strong history of trading,” Prentice says. “The opportunity is here for a savvy investor to select and purchase their preferred unit or to control the total site and enjoy the dual income stream.”
Ryan, Industrial Sales and Leasing Broker at Colliers, says industrial property remains a sought-after asset class among buyers due to the ongoing low vacancy rate environment in Auckland.