A fully-leased, modern office investment with three tenants is for sale just two minutes from Auckland's busy Sylvia Park commercial and retail hub.
Colliers International is marketing 4E Pacific Rise, Mount Wellington, by deadline private treaty closing at 4pm on November 15, unless it sells earlier.
The 820sq m freehold property comprises a two-level office building with seven covered and 14 uncovered car parks on favourable leases earning $191,000 plus GST in net annual rent.
Gareth Fraser of Colliers, sees a chance to acquire fully occupied investment property in an excellent location within the 'coveted' business precinct.
"Prominently positioned with easy access to State Highway 1 and main arterial routes, this split-risk investment property offers excellent amenities, with Sylvia Park only two minutes' drive away.
"Kiwi Property has invested heavily in the area in recent years, with its new Sylvia Park office complex drawing in more business in addition to its well-established shopping centre."
Agency broker Simon Child says the location is superbly poised between the CBD and East Tamaki industrial area, drawing on a wide catchment from the city's centre, east and south.
"With three solid tenants, a high-quality modern build and 100 per cent occupancy, this is a real bottom-drawer passive investment."
Insomnia Security occupies the 410sq m ground floor. The company is signed to a six-year lease with a further six-year right of renewal earning $96,000 in annual rent.
The first floor tenants, Accomplish and STP Group, occupy 205sq m each. They are signed to three-year leases earning $49,500, with further three-year rights of renewal each.
The property is constructed of reinforced concrete foundations and floors supported by concrete columns and beams, with long run galvanised roofing.
The main entrance is via a lobby at the front with dual access from the car park at the rear. The ground and first floor are serviced by a stairwell and lift.
Anchor tenant Insomnia is a NZ-based specialist information security company with niche technical skills, including high-quality penetration testing.
Accomplish was established in the 1990s and remains a leading New Zealand business and accountancy software provider.
STP Group is a building consultancy, chartered engineering and registered architectural services firm.
The property is within 10km of Auckland's CBD and next to both of Auckland's busiest arterial routes, State Highway 1 and Great South Road.
It is surrounded by the suburbs of Stonefields, Panmure, Penrose and Ellerslie.
The property has an excellent level of on-site parking, while bus routes plus the Sylvia Park Train Station are within easy walking distance.