Albany industrial units are ‘stand outs’

4:02 PM Tuesday November 28, 2017 Colin Taylor

Exterior view of light industrial property for sale comprising Units A and B at 224 Bush Rd, Albany. Photo / Supplied

Two medium-sized, high-profile, light industrial units in a strategic location in Albany are being marketed for sale together, giving buyers the chance to purchase one unit or both.

“This property has some smart additional extras, like the internal sound system, which make these units stand out above the average commercial unit,” says Dave Lane, of NAI Harcourts North Shore Commercial.

Lane and his colleague Marty van Barneveld are marketing Units A and B at 224 Bush Rd, Albany, for sale by auction at 12pm, Wednesday December 13, at the agency’s Takapuna auction room in Hurstmere Rd (unless sold prior).

Lane says the property is a rare find for buyers seeking high quality light industrial space, in an exceptional location.

“The two units totalling 660sq m are both tenanted and can either be purchased together as a freehold property, without a body corporate; or as individual units as a unit title within a body corporate,” he says.

Zoned Light Industry, both units have 170sq m of high-stud warehouse space with full-height roller-door access; along with 143sq m of office or showroom space; and a 17sq m canopy.

Lane says the units offer investors the security of reliable, well-established and long-term business tenants providing good annual rental income.

“They are dream investment properties and there is potential rent growth for Unit B.”

Unit A is tenanted by BFT Automotive New Zealand Limited paying annual rent of $67,000 plus GST on a four years lease with two rights of renewal of four years.

Unit B is rented by Citywide Tech Limited, for an annual rental income of $52,000 plus GST – also on a four-year lease, with one right of renewal for three years.

The total rent generated by both units is $119,000 plus operating expenses. All outgoings totalling $22,619 plus GST annually, are covered by the tenants.

Each unit has a wide frontage on to Bush Rd with its own, individual vehicle access, and there is a total of 11 car parks; six are allocated to Unit A and five to Unit B.

The property was built around 2000, and general construction is tilt-slab concrete walls to the warehouse with long-run metal roofing. There are panel walls in front of the office and warehouse roller doors. Joinery is aluminium.

There are three individual heat pumps in each unit for heat in winter and cooling in summer. Unit B has a full working sound system and amplifier installed. Unit A had new carpet laid throughout in March of this year.

Van Barneveld says the other big selling point for 224 Bush Rd is its location, in the highly sought-after North Harbour industrial precinct.

“It sits in the heart of a transport hub, just 3km from the Northern Motorway junction, and even closer to the Western Motorway junction.

“The property is surrounded by well-established businesses like Courier Post, Crown Movers and Fuji NZ and is well-served by cafes, restaurants and bakeries. Westfield Albany is also a short drive away.

“NZTA [NZ Transport Agency] has proposed a transport reconfiguration of the Northern Motorway at the Upper Harbour Highway intersection and those planned changes will create even easier access both north-south and west to the new Ring Route. This should put Bush Rd at the centre of enhanced traffic flows in to and out of the North Shore region,” says van Barneveld.

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Dave Lane and Marty van Barneveld, NAI Harcourts North Shore Commercial