Taxi Chance to flag down a property deal and a tenant

By Colin Taylor

The units have good visibility from a nearby major road.
The units have good visibility from a nearby major road.

Alert Taxis Group is selling three industrial units it occupies in Penrose. But it will lease them back with initial lease terms of six years plus three three-year rights of renewal.

Alert Taxis was started in 1960 and has become one of Auckland's largest and longest established taxi firms.

The units at 918-924 Great South Rd, Penrose, are being marketed by Nigel McNeill and John Algie, of Bayleys Auckland, and are being offered for sale by tender, closing on November 7.

Tenders can be submitted on one or more of the units.

The largest, Unit B at 918 Great South Rd, is 662sq m including 405sq m of high stud warehouse with the balance in ground floor offices, amenities and storage space.

Generating a net annual rental income of $111,980, the unit is shared by Alert Taxis and Alert Automotive, a subsidiary company which services its taxis.

McNeill says signs on this unit can be seen from the South Eastern Arterial Highway which adds to its attraction for tenants.

"It's in a high profile position which Alert Taxis has used to its advantage over the years by utilising the building to brand its business to drivers passing it."

Unit A at 924 Great South Rd, occupied solely by Alert Taxis, is producing net annual rental income of $31,697. This unit has 75sq m of high stud warehousing, 72sq m in low stud, and the rest of the total 273sq m in offices and amenities.

The smallest unit at 223sq m, Unit B at 924 Great South Rd, comprises 120sq m of high stud warehouse, 25sq m of low stud space with just 77sq m in office and amenities.

This unit is leased to Alert Automotive and is producing net annual rental income of $28,000.

"They would make ideal investments for family trusts or individual investors because they are in a very affordable price range," Algie says. "The units are also low maintenance and are leased to a long-standing company at fair market rentals."

As well, they were in a popular Auckland industrial suburb.

"The units are in a central position for Alert Taxis which uses them as its base. They are in the heart of Penrose on the north eastern side of Great South Rd where it intersects with the South Eastern Arterial Highway.

"This links with the State Highway 1 motorway and Mt Wellington to the west and Onehunga and Auckland Airport to the east and south."

- NZ Herald

© Copyright 2014, APN New Zealand Limited

Assembled by: (static) on red akl_a5 at 24 Apr 2014 17:37:51 Processing Time: 469ms