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News Release

High quality, tenanted industrial investment

JLL marketing 17D William Pickering Drive, Albany



Long term investment with development potential/new-zealand/en-gb/news/916/long-term-investment-with-development-potentialAUCKLANDLong term investment with development potential
Former Fire Station on high profile corner site/new-zealand/en-gb/news/915/former-fire-station-on-high-profile-corner-siteCHRISTCHURCHFormer Fire Station on high profile corner site

A tenanted, high quality industrial unit is for sale on William Pickering Drive in Albany in the centre of Albany Business Park. The unit is to be sold by Expressions of Interest closing 4pm, Thursday 27 September (Unless sold prior)

The 1980s freehold building has a net lettable area of 780sqm and is constructed of mainly brick block with concrete slab flooring and steel galvalume roofing.

JLL's Jaye Miller, who is marketing the property, says it is good quality and only recently tenanted, returning a net rental of $122,000 p.a.

"There is a new long term lease in place to motorhome business RV Repairs Limited. With the property having good road frontage to Armstrong Road and 15 carparks, it proved ideal for their business. The site allows for great exposure as any business signage can also be seen from William Pickering Drive, which is a main thoroughfare for 12 turn off roads," says Miller.

The property consists of two lunchrooms, air conditioned offices, a warehouse with a ceiling stud height of 7m and is zoned Light Industrial. This zoning anticipates industrial use such as storage, logistics, distribution, production and manufacturing.

The site benefits from having two access points from the road so larger trucks can drive through. Loading and unloading is also made easier due to the large area available. Container storage is available by utilising the front car parking area which can handle both 40ft and 20ft containers.

Access to the building is through a wide industrial roller door or a single door which leads into the lobby, warehouse, upper and lower level offices and the reception area. At the rear of the property is a small general storage space, which is current being utilised as a dangerous goods storage room.

"Industrial investments like this one, that offer an investor a long term lease with personal guarantees, seldom come up for sale in this increasingly popular North Shore location," says Miller.

"Approximately 12,500 vehicles pass this site per day during the working week and William Pickering Drive is close to Northern and Southern motorway access links making Auckland CBD only a 30-40 minute drive at peak times and 20 minutes off peak."

The property benefits from nearby amenities such as the Albany Mall, which is a 10 minute walk away, Westfield Albany and Albany Mega Centre, both of which are within a 2km radius rom the site.

"Industrial land is scarce in the North Shore area, which has lowered lease supply to a mere 2%. This has led to a lowered risk environment for industrial property owners when it comes to finding tenants, as demand will be high until the supply issue is addressed," explains Miller.