An attractive office/ warehouse building located on the road front of popular Piermark Drive in Albany is for sale by auction.
The property has a new tenancy to an international company GMW Geosciences (NZ) Limited, offering an annual net rent of $83,000 + GST.
Marketed by Dave Lane and Chris White of NAI Harcourts North Shore, Unit C, 9 Piermark Drive, Albany has an outstanding road front positioning in the popular light/medium industrial area of Albany.
GMW Geosciences has signed a three year lease, with two rights of renewal of two years each. The final expiry date is 1 July 2021. This is the New Zealand headquarters of the company, who offer geotechnical site investigation, analysis and design advice to the construction, infrastructure and resource sectors.
Outgoings include Auckland Council rates of $10,422, water rates of $1,065 and a body corporate levy of $6,384, all of which are paid by the tenant.
Lane says the property offers a high impact presence, with its blue mirror windows and white external walls securing the front left corner of the complex at 9 Piermark Drive.
It has an internal area of approximately 516m², consisting of a high stud warehouse area along with an office and amenities at ground level, and an upstairs office with separate entry and amenities.
Constructed in the 1990s, the building has been consistently tenanted and has appealed to those wanting a 50:50 split between warehouse space and showroom/office space. The ground floor office space is 141m², the first floor office space is 153m² and the high stud warehouse is 222m².
Lane says this layout works very well for the current tenant, and is slightly unusual in the equal weighting to both office and warehouse space in offering separate entry and amenities to the first floor office area conveniently allowing to separately sublease if required.
Construction includes mostly tilt slab, with long-run roofing.
Amenities include a toilet at both ground level and upstairs, with 12 onsite allocated car parks and good on-road parking.
The current zoning of the property is Business 10, with the proposed zoning under the Auckland Unitary Plan to be Light Industry. This zoning allows for light industrial activities that do not generate objectionable odour, dust or noise emissions. This includes light manufacturing, production, logistics, storage, transport and distribution activities.
Piermark Drive is lined with medium to large office warehouse properties. This industrial area has been established for some time now, with a vast array of light industrial businesses, servicing the North Shore and further afield. Piermark Drive is of level contour, connecting to Bush Road at one end and William Pickering Drive at the other.
Nearby is the northern and southern motorway interchange at Tawa Drive and Upper Harbour Highway/western motorway interchange at Albany Highway.
Lane says the property offers investors good long term capital gains in a high profile and strategic location, as well as a secure income through its tenancy.
Unit C, 9 Piermark Drive will be offered for sale by auction at 12pm, Thursday 31 July at the Harcourts Auction Room, 400 Beach Road, Mairangi Bay.