A solid, dependable investment in the much sought-after Auckland airport corridor is for sale.
The property at 9 Airpark Drive, Mangere comprises a 3,688sqm industrial facility and is being marketed by Nikolai Vulinovich, Chagalle Ellis and Claus Brewer of CBRE. The sale is to be by deadline private treaty closing at 4pm December 6, if not sold earlier.
Vulinovich says as a well-located A-Grade asset 9 Airpark Drive is expected to be highly sought by a range of investors.
“Offering a high clearance warehouse, modern offices, north facing yard and large canopy 9 Airpark Drive ticks all the boxes one would expect from a quality industrial property. What really makes it such a compelling investment however is the fact it has a well-established tenant providing certainty of return and income.”
The property is located off the corner of Richard Pearse Drive and Airpark Drive, with surrounding occupiers including Synlait, DHL, Mondiale, and Bendon. Airpark Drive runs parallel to George Bolt Memorial Drive (SH20A) and is within 1 minute of the Landing Drive intersection with SH20A as well as being a very short distance to Auckland Airport.
“With easy links to SH20A, Airpark Drive is well connected to Auckland’s CBD, the port network and the southern corridor via SH20 and SH1, making it a perfect property for a variety of occupiers that rely on quick access to key arterial routes”
The property occupies a 5,583sqm regularly shaped site and was built in 2007 by current owners to a very high-quality spec, the 2,510m2 warehouse is of tilt slab construction, high stud, regularly shaped and clear span.
The property is currently tenanted by accessable a company that manages government contracts to provide disability equipment and modifications. Vulinovich says as a result the property has an exceptional internal fit out for storage and warehousing needs.
“In keeping with the name of the tenant occupying the property, 9 Airpark Drive has easy access with a layout and design that make it highly functional for freight and delivery needs. Featuring full drive through ability onto Richard Pearse Drive, the yard is north facing and enjoys protection from a large 630sqm canopy which also acts as a semi-breezeway for trucks driving through onto Richard Pearse Drive.”
The warehouse is serviced by three large roller doors, all of which are protected by the canopy and away from the prevailing wind. There is a further mezzanine area within the warehouse which can be accessed via both a stairway and a lift installed by the existing tenant.
The office space is provided on the road front and split over two levels. Refurbished to a modern standard the office space is fully carpeted and air conditioned. The downstairs office area has been extended into the warehouse with large interior windows installed to greatly increase natural light levels.
Ellis says although just over ten years old the recent refurbishments and the high spec of the initial build, the property is pushing to be in the same category as some of the recent newbuilds in the area.
“Zoned for Light Industry this quality property is future proofed as an investment for decades to come for a range of occupiers in and activities, including manufacturing, production, logistics, storage, transport and distribution.”
“In the meantime, property owners will benefit from an established tenant with a lease which has just over six years left to run with a passing rent of $360,588 + GST and that is responsible for outgoings. The income is further supplemented by a 2 Degrees cell tower currently returning $12,828 + GST.”
Claus Brewer, National Director for Industrial and Logistics for CBRE says dependable properties of this nature are few and far between in the market right now.
“Being right on the door step of the airport is a major benefit and will be favourably suited to any business with freight or air travel needs. A great location, with minimal maintenance required and plenty of scope for future rental uplift 9 Airpark Drive is an opportunity not to be missed.”
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ABOUT CBRE GROUP, INC.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.