East Tāmaki at its best

A modern first-class property with a new eight-year lease to a longstanding tenant in the prime industrial location of East Tāmaki shapes as one of the best available offerings in Auckland in this low-risk asset class.

54 Stonedon Drive, East Tāmaki has 1,666sq m of total net lettable area on a 2,980sq m freehold site and will interest buyers who understand the criteria of what makes a quality industrial building.

The property provides 60 per cent site coverage and sits on the doorstep to Highbrook Business Park and State Highway 1 on-ramps.

Waterware, the longstanding occupant, have agreed to a new eight-year lease that will begin on settlement.

The lease returns $320,000 plus GST per annum in net annual rental income and includes two further rights of renewal for four years each, providing a strong underlying tenant covenant from an occupant that has been on-site since 2005.

The building is the ultimate in functionality and includes a fully fenced yard with excellent access and provides further peace of mind for investors with a 100 per cent A-grade earthquake rating.

The property is strategically located only 350m from East Tāmaki’s central intersection on Highbrook Drive that leads to State Highway 1, which is approximately 3km away.

Colliers Directors Josh Franklin, Ben Cockram, and Paul Higgins have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Wednesday 19 July, unless sold prior.

Originally constructed by Euroclass for Waterware in 2005, the property comprises a warehouse that spans 1,354sq m with a stud height ranging from 7.5m rising to 9.1m at the apex.

The yard provides room for containers and truck turning, with access to the warehouse provided via two canopy protected roller doors.

The immaculately presented single-level office measures 198sq m and includes recent fit-out upgrades. The owners have also invested in a new ventilation system and solar panels for improved efficiency.