"The warehouse space is clear span with access through one roller-door to the car park and a secondary roller door to a securely fenced concrete yard."
The property is leased to Corea International Ltd, a freight-forwarding company that has operated a customs and biosecurity accredited facility since 2010. The lease earns $117,800 in net annual rent, but Corea has recently renewed its tenancy for a further four years.
The new lease, effective from 1 March 2019, will generate $120,745 in net annual rent. A further four-year right of renewal is available from March 2023.
Rent reviews indexed to inflation are due in March 2023 and 2025, with a market review in March 2021.
Colliers' Ryan de Zwart says the functional building has a sought-after warehouse-to-office ratio.
It comprises a 485sq m warehouse along with 195sq m of office and amenities and a 90sq m mezzanine. The security fenced concrete yard has 120sq m of space, being used to house two 40ft containers.
"The front yard also offers a good amount of on-site car parking, with 14 marked spaces, as well as prominent signage out front."
The well-presented office spaces, which benefit from good natural and artificial lighting, are split over two levels.
"Offices are air-conditioned with amenities on the ground and first floors. Flooring is a mix of tiles, vinyl and carpet."
The building is of modern construction and design with concrete pad foundations, concrete block columns, block walls and steel beams. External cladding is a mix of concrete block, vertical steel cladding, composite panels and long run roofing. Aluminium glazing includes full-height windows on the ground floor, allowing for showroom use if desired.
The property is on the northern side of the western end of Parkhead Pl, central to the North Harbour industrial estate, with good access to nearby arterial routes.
