Offices set in park-like surrounds

5:00 AM Saturday April 30, 2016 True Commercial

The recently renovated office building is set in parklike surroundings

A large East Tamaki office building in a park-like setting is being marketed for sale through an expression of interest process, by JLL.

The 2076sq m office building sits on an elevated 12,141sq m site with 95 carparks at 364 East Tamaki Rd.

The 1980s building has been extensively renovated to a high standard in recent years.

JLL agents John Binning and Kurt Rains are marketing the property via expressions of interest closing May 31.

“The population within a 5km radius of this property is forecast to experience sizeable growth, with an increase of almost 20,000 residents predicted between 2018 and 2028,” Rains says.

“This will lift the working population in the area, increasing capacity for industrial operations, demand for retail offerings and residential accommodation.”

“The new owners will be in good company. Platinum Homes, Hafele NZ, Yamaha, Stevenson and Jaychem Industries are some of the notable occupiers in the area,” Binning says.

JLL has seen strong investor and tenant demand for industrial premises, which has stimulated rental growth and development activity. The East Tamaki area remains a popular location for industrial businesses.

The property is near the eastern end of East Tamaki Rd, near the corner of Accent Drive.

“It enjoys easy access to Auckland’s motorway network and is only 20 minutes from Auckland Airport.

The transport connections to the area will only get better, Binning says.

East West Connections is a joint NZ Transport Agency and Auckland Transport programme to improve freight efficiency, commuter travel, public transport and walking and cycling options over the next 30 years. It will reshape the transport network between some of the region’s largest industrial hubs and will increase access between East Tamaki, Mt Wellington, the Airport and Onehunga.

“There is huge potential for East Tamaki’s growth as an industrial hub, making this property an appealing proposition,” Rains says.