Two adjacent Mt Eden industrial units that are likely to appeal to different buyers will go under the hammer at the beginning of this month.
Units B3 and B4 on separate freehold titles are part of a 21 unit city fringe complex at 45D Normanby Rd, Mt Eden that is occupied by a range of commercial businesses ranging from from media and design companies to trade retailers.
"Unit B3 is a ready-made, turn-key property offered with vacant possession and is ideal for a purchaser needing a quality office layout with some storage," says Peter Kermode who, with colleagues Jonathan Lynch and Kris Ongley, is marketing the properties for auction by Colliers International at 11 am on Wednesday April 8 unless they sell beforehand by negotiation.
"On the other hand, B4 is a classic passive investment opportunity comprising a refurbished office and warehouse with two well established tenants."
Kermode says the 629 sq m unit at B3 consists of ground floor office space over 438 sq m with a 162 sq m refurbished office mezzanine level and modern fit out, as well as a 28 sq m high stud storage area.
"It would ideally suit marketing, design, architecture or advertising type businesses that require some storage facility who want ground level premises. The discrete nature of the premises will also suit businesses that are security conscious," he says.
Unit B3 is located to the rear of the 21 unit complex and is one of only two units within the development that has seven covered car park spaces and drive through access for trucks.
Kermode says it could be slightly reconfigured to present cost effective accommodation for owner occupiers.
Unit B4 is the only other unit within the complex providing covered parking and a loading area.
It comprises a two level, 675 sq m mix of modern office and workshop space with a medium stud and a clean manufacturing and storage area accessed at ground level by a roller door. It generates a net annual income of $135,755.
Lynch says the two tenants, each on new, six year leases, have heavily invested in the refurbished facility with customised new fit out.
CCL Communications Group, occupying the 383 sq m ground floor, is a print production company with nearly 30 years in the industry and a stable of brand name clients including Panasonic, Hyundai and House of Travel.
The 242 sq m first floor tenant is Davy & Chapman, a creative agency that morphed out of CCL Communications Group 18 years ago with a core focus on strategy, brand and digital. Clients include VELUX New Zealand, House of Travel and Auckland Conventions Venues & Events.
"Personal guarantees from company directors provide security over the leases, and it will be difficult to find a comparable property in the city fringe that will suit the current tenants," says Lynch.
The complex is zoned Business 4 within the Auckland City District Plan and is set to become Light Industry under the Proposed Auckland Unitary Plan.
"Significant redevelopment was carried out on the complex in 2002 to bring the building up to modern building standards and both of these units have an A-plus seismic rating."
Ongley says Normanby Rd is an established and increasingly sought after business address just three kilometres from Auckland's CBD.
"The popular commercial locality is characterised by a mixture of modern low-rise office, showroom and workshop buildings with nearby neighbours including Auckland Grammar School.
"The site offers the benefits of easy access, good surrounding amenities such as cafes, childcare and restaurants and it's only a short walk from Mt Eden train station."
Access to the city's motorway system is 700 metres away at the Khyber Pass Rd interchange.