Albany industrial landmark draws interest

One of Albany’s best standalone industrial buildings is on the market presenting a rare opportunity for investors, owner-occupiers and tenants.

The landmark two-storey facility now for sale or lease through Bayleys sits on a more than 8,600-square-metre freehold site on Canaveral Drive, in one of the most coveted industrial precincts on Auckland’s North Shore.

The approximately 3,927-square-metre building encompasses modern, recently upgraded office accommodation and high-stud warehouse and technical space suited for an array of industrial and commercial operations. Generous yard areas and on-site parking for 92 vehicles support excellent all round operational efficiency for logistics, warehousing and business activities.

Currently partly tenanted, the site returns some $654,000 plus outgoings and GST from a lease to global customer communications business Solution Dynamics which expires in September 2027 – providing holding income and future flexibility for new owners and occupiers.

The property was purpose-built for this publicly listed company, which has been in occupation for around 20 years.

A recently vacated, quality first-floor office is available for immediate occupation, or offers additional potential income, bringing a fully leased notional rental to approximately $900,000 plus GST.

Flexibility is on offer from a leasing perspective, allowing tenants to explore various configurations including potential split-tenancy arrangements and flexible timing of occupation.

The property at 18 Canaveral Drive is being offered for lease or sale by deadline private treaty closing on Thursday 29 October (unless sold prior), through Simon Farland and Matt Mimmack of Bayleys North Shore Commercial.

“This is an exceptional chance to secure one of Albany’s premier standalone industrial properties,” says Farland.

“Available for sale or lease, this is a scarce opportunity offering scale, income and flexibility in a leading North Shore industrial precinct. Its appeal is further underpinned by recent office upgrades, business-friendly zoning and excellent access to State Highway 1.

“New owners will enjoy significant immediate income while planning for future occupation or repositioning. The large underlying freehold landholding offers security and long-term value in a tightly held industrial market.

“For new tenants, there’s a seldom-seen level of flexibility to take up business in truly standout premises in a superb location,” Farland says.

The approximately 3,257-square-metres currently occupied includes a high-stud warehouse of more than 1,700 square metres, some 815 square metres of office and 147 square metres of manufacturing space, plus a mezzanine area, lobby, amenities and canopies, supported by 67 car parks.

First floor accommodation above spans some 669 square metres, including offices, a lobby and balcony, along with 25 car parks.

Mimmack says the property’s highly functional layout makes it well suited to a range of industrial and commercial occupiers.

Business – General Business zoning under Auckland’s unitary plan permits activities ranging from light industrial to limited office, large-format retail and trade supplies.

“A vital advantage for occupiers doing business here is the strategic location in a highly regarded North Shore business park.

“Renowned for its high-quality business environment, the location is home to a lively mix of national and international occupiers and enjoys excellent connectivity across Auckland and beyond via nearby State Highway 1.

“Operators here have efficient access to the city centre, key commercial hubs across the North Shore, and the upper North Island transport network.

“This precinct is also well served by public transport and handy to Albany’s comprehensive amenities, including Westfield Albany, Albany Mega Centre, cafes, restaurants, accommodation providers and business services.

“With its accessibility, amenity and strong business community, fast-growing Albany continues to attract investors and occupiers seeking a premium North Shore location,” Mimmack says.