Units 3 & 4 comprise the upper floor level of 527B Rosebank Rd, Avondale.
Two adjoining office units in the Harbourside Business Park in West Auckland, in which the long standing tenant has committed to a new lease for over six years, will go up for auction later this month offering net annual rental income of $110,450.
The property, Units 3 & 4 at 527B Rosebank Rd, comprise the 444 sq m top floor of an office building completed in 2004 and is among over 20 commercial and industrial properties that will go up for auction in Bayleys' latest Total Property portfolio on October 28 - unless they sell earlier by private treaty.
The Rosebank Rd units are being marketed by Laurie Bell and Grant Miller of Bayleys' West Auckland division who say the office floor has an elevated outlook and harbour views.
"It benefits from excellent natural light throughout," says Bell. "It encompasses a reception area, meeting rooms, open plan work area, a number of partitioned offices, kitchen and bathrooms. It also has the added bonus of substantial on site car parking with 16 vehicle bays available for use by staff and clients directly outside the building."
The property serves as the New Zealand head office of Cadpro Systems Limited which has been in occupation since 2003. The company signed a new lease in September for a further six years and three months. It has two further three-year rights of renewal which, if exercised take the final expiry date of the lease out until November 2027.
Cadpro Systems is a leading supplier of professional computer aided design technology specialising in Building Information Modelling (BIM) technology for architects, engineers and contractors as well as digital prototyping solutions for manufacturers.
The New Zealand owned and operated company has been in business since 1992 and provides consulting services, software, workstations, data management, training, customisation and application development nationwide. It has Autodesk authorised training and certification centres in Auckland and Christchurch.
"Both units are occupied by the one tenant at present but they do have the future flexibility of splitting into two tenancies," Bell says.
The building is part of the Harbourside Business Park which was developed in 2004 and encompasses four hectares of land fronting onto the Waitemata Harbour. It won the Supreme Award at the Property Council's 2005 awards which recognise excellence in development projects. Other surrounding tenants and owners include Charles Parsons, Paula Ryan Fashion, Rosebank Law, Amblers and the Rosebank Business Association.
Miller says Rosebank Road is a sought after location for many businesses because of its closeness to the Auckland CBD and the expanding West Auckland area. "This is reflected in the very low vacancy rate for business accommodation," he says.
The Rosebank Road area recorded the lowest vacancy rate of Auckland's main industrial precincts surveyed by Bayleys Research earlier this year, at 1.7 per cent.
Miller says Rosebank Road provides excellent motorway access both west and east. "There are two north-western motorway interchanges within a short drive. One is accessed off Patiki Road by vehicles heading further west or north; and the other is off Rosebank Road providing easy access to central Auckland and to State Highway One.
"Future roading improvements, such as completion of the Western Ring Road from Manukau and the airport to connect with the north-western motorway via the underground Waterview Connection, will provide even better access to and from the Harbourside Business Park."
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