Office-warehouse in Bush Rd
The unit at 234D Bush Rd has about 180sq m of flexible-use space. Photo / Supplied
NAI Harcourts agents describe a tenanted industrial property in the North Harbour business district as an exceptional investment opportunity.
Agents Marty Van Barneveld and Mike Fotu are selling 234D Bush Rd, which became available following the recent decision by owners to sell-up and move on.
The street-facing freehold property is on the market for the first time in over 20 years, Van Barneveld says.
After a strong tenant trading history, it’s now available with a new four-year-lease in place.
The property — part of an industrial development comprising four warehouse/office units — is to be auctioned at 1pm on August 23, unless sold earlier.
Van Barneveld says the warehouse area, which is now used as an office, offers an open plan layout with stud heights between 5.8m-6m.
“The owners have thought of everything, in that by installing windows to replace the large rollers doors they’ve ensured that these can be removed if the next owners want to change the space back to a warehouse later on,” he says.
The interior offers about 180sq m of flexible use space. Photo / Supplied
“After more than 20 successful years in this area, this property’s owners are ready to part with their smart and well-maintained development.
“And since there’s such high tenant demand for quality industrial buildings in this area, I predict they’ll have little trouble in doing so.
“In my view, this modern property offers key attributes such as location, generous size (at about 180sq m of flexible use space), and the four car parks.”
Van Barneveld believes with a CV of $520,000, a total rental income of round $36,240 net pa and the tenant responsible for paying the rates and insurance premiums, the property is sure to appeal to investors.
Fotu says the area is attractive for staff, having a good range of amenities such as cafes and restaurants within easy walking distance, and Westfield Albany being just a short drive away.
“It’s less than 3km from the Northern Motorway and an even shorter distance from the Western. Remember, Bush Rd is an arterial route connecting many main routes that run through the North Harbour Industrial precinct.”