Immigration's emigration presents opening

With Immigration New Zealand preparing to move from its Henderson headquarters, an opportunity has opened up for others to relocate to the property.

JLL agent Ian Hall says the three-level building now occupied by the government department has been placed on the market.

"It's net lettable area of about 1477sq m could suit either investors or an owner-occupier," Hall says. "A single tenant could either use the entire space or take up just one floor while leasing the rest."

JLL is selling the freehold property, at 39 Paramount Dr, by an expressions of interest campaign, which closes at 4pm on May 31.

Hall says tenant Immigration New Zealand is in the process of making a staged exit, initially vacating the ground floor in June this year.

"It will remain as tenant on the upper two levels until expiry in June 2019, which would allow a new owner holding income for close to 12 months with time to reposition the property in the market for medical, education tenants or separate office floors.

"With a shortage of properties in the area of this size and quality, this is a superb offering which would suit investors or an owner occupier who could occupy the entire space or just one floor while leasing the rest," Halls says.

The mainly concrete building constructed in 2003 is on a 2282sq m site with 47 carparks.

The ground floor has 470sq m, the first floor 488sq m and second floor 488sq m. The upper floors can either be accessed by an 11-person lift, or a stairwell.

The office is mostly open-plan with some partitions in place to separate out space. Each level has toilets, with the ground level also having a shower facility.

On the ground and second levels are kitchenettes, with a lunch room available on the first floor.

Hall's colleague John Binning says Waitemata District Health Board's facility, Health Point, is next door which provides various services to the medical industry.

"Due to this, the prospect of repositioning the property for sale medical use is quite feasible, as clientele for such services are already familiar with the area."

Binning says the property, which is on the northern side of Paramount Dr is within the Business Light Industry zone.

Paramount Dr links Lincoln Rd to Central Park Dr, within the popular commercial location of Central Park in Henderson.

This has expanded over time using space made available from a former vineyard and orchard, which is being redeveloped to a mix of commercial and light industrial properties.

"Less than 100m to the south of the property is the Lincoln North Shopping Centre, which provides access to retail shops and banking services," says Binning.

"And during off-peak traffic periods the property is only a 15-20 minute drive from Auckland's CBD." he adds.

Binning says the property has easy access, with the main arterial road, Lincoln Rd — which carries about 45,500 vehicles during the working week — only a minute's walk along the road.

JLL research predicts that from 2017 to the year 2043 the population for Henderson/Massey will increase by 44 percent, making it home to close to 180,000 people by 2043.