Bankable Asset on Piermark - Revised Rental
Unit G/10, Piermark Drive, Albany, North Shore City
Expressions Of Interest
- Proposed Usage
- Floor Area
- 1400.00 m²
- Property ID
The Long term investor that designed and built this office/warehouse for the current tenant gives the instruction to sell.
- Tenanted investment returning $215,000 pa net.
- Tenant is AB Note Limited, with the current 10 year term up for renewal on 1 April 2023.
- Large capital investment from AB Note Limited into the facility, providing significant inertia to remain long term at this location.
- Ample carparks plus approximately 365 sqm of spare land for expansion, which is an Accessory Unit attached to the title of this property.
- Current rental is below market compared to similar office/warehouse properties in the area with consideration for the fit our investment.
It is rare that a truly passive office/warehouse investment comes to the market like this. The property itself has the basic framework of traditional office/warehouse property but the investment by both landlord and tenant originally American Bank Note "Secure since 1795" (http://abcorp.com/) ensures long term tenure at this location.
Located in the heart of the established North Harbour Industrial Estate in Albany on the North Shore, Piermark Drive links William Pickering Drive and Bush Road and enjoys easy access to the Northern Motorway and the Western Ring.