Office complex beckons in heart of Albany

The ANZ building is close to State Highway 17 and opposite the Albany Mega Centre; Westfield's Albany Shopping Centre is nearby. Photo / Supplied

One of Albany's premier office complexes, the ANZ building in Corinthian Drive, is up for tender with over half of its $2,125,000 annual rental income coming from leases to banks or government departments.

Completed in 2006, the 5735sq m mixed-use retail and office building is located on a 5579sq m sloping site allowing street-level entrances from Corinthian Drive and Mercari Way to the third and ground levels of the five-storey building respectively.

Mercari Way is the main entranceway into the Albany Centre and the ANZ Albany building is close to the corner with State Highway 17 and opposite the Albany Mega Centre. Westfield's Albany Shopping Centre is nearby. The property is being marketed by Harold McCracken, of Bayleys Auckland, in conjunction with Daryl Devereux, Bayleys North Shore, by international tender closing June 3, unless it is sold prior to that date.

McCracken says the property offers an exceptional opportunity to invest in a high-quality freehold building in the centre of one of the Auckland region's fastest-growing commercial suburbs. Just over 80 per cent of the building comprises A-grade office space with the balance in retail space.

"A major strength of the building is the profile of its tenants, which include national and international companies and government departments like ANZ Bank, Westpac, the Ministry of Justice and the Department of Labour."

Level three provides ground-floor entry to the building from Corinthian Drive with a large foyer leading to a "travertine" marble staircase and two lifts to the upper floors. Westpac occupies the northern end of this level and the North Sea Village Restaurant occupies the southern end, with a number of smaller tenancies in the centre. The two office levels above host the Department of Labour, the Ministry of Justice, ANZ National Bank and multinational insurance company, Lumley.

McCracken says these levels have natural light coming through full-height windows and provide an expansive outlook over the Albany area. Below the office floors is a security-monitored carpark with access via a ramp located on Corinthian Drive. Additional retail parking is at the rear of the retail area on the ground level.

Nine retail units share a common frontage with a Caltex Service Station and Star Mart on Mercari Way. Easements are in place so that the retail units can easily be accessed via the Caltex forecourt, with vehicle parking along the front of the building.

The lower retail level has three food outlets, occupied by Burger Fuel, Pizza Hut and Nando's Restaurant along with a variety of other tenants plus a 229sq m vacant unit.

The property's lease terms range from four to nine years and there are a total of 217 internal and external carparks, with 60 of these being dedicated retail spaces

Devereux says the property is in a strong location in the centre of Albany's commercial precinct. He says the area has proved popular with office and retail tenants and has undergone expansive development over the past decade with office floor space doubling from 2002 to over 70,000sq m in 2010.

The property is close to State Highway One and the Albany station of the Northern Busway. A short stroll away is Albany's popular bulk retail Mega Centre and Westfield Albany - the country's largest shopping centre with anchor tenants Farmers, Borders, Bond and Bond and Sky City Cinemas and over 140 specialty stores.www.anzalbany.co.nz