Unit D for sale at 45 Normanby Rd, Mt Eden
Two renovated and interlinked unit-titled office and warehouse units are being offered for sale within the Eden Central Business Park in the popular city fringe area of Mt Eden.
"The adjoining units were extensively refurbished and upgraded from an older warehouse building in 2002," says Barfoot & Thompson Commercial agent Bill Carlson, who is selling them for Normanby Holdings Partnership.
He is marketing the property, designated Principal Units B3 and B4 with Accessory Units 4 and 5 within the parent lot Unit D at 45 Normanby Rd, for sale by deadline private treaty closing at 4pm on Wednesday, August 28.
Earlier this month, a multi-tenanted North Shore freehold investment at 121 Wairau Rd, marketed by James Christie and Bruce Jiao, will go under the hammer at an auction scheduled for 10.30am on Thursday, August 15, at Barfoot & Thompson's auction rooms at 34 Shortland St in the Auckland CBD. The 875sq m building on a flat 1417sq m site with 15 car parks has three stable tenants, generating a net income of $97,137 per annum.
Carlson says the 45 Normanby Rd property is occupied by CCL Communications Group, with a contract net rental of $283,560 per annum, plus GST. CCL has a six-year lease beginning December 16, 2008, with two rights of renewal of six years each.
"The tenant has indicated its current premises are too large and the company would be interested in negotiating a new lease with a prospective purchaser over Unit B4," says Carlson.
He says the 1093sq m property, in two stratum in freehold titles with 14 covered car parks, is on the eastern side of Normanby Rd, almost directly opposite the intersection with Enfield St and midway between the intersections with Boston Rd and Mt Eden Rd.
"This is an established city-fringe location with historic commercial use that is characterised by a mixture of showrooms, offices and workshop buildings," Carlson says. "The immediate environs to this property include modern low-rise offices and showroom, Mt Eden prison and Auckland Grammar School.
"Excellent access to the southern motorway is provided via the Khyber Pass Rd interchange about 700m to the north. The travelling time to the Auckland CBD is around five minutes in off-peak traffic conditions."
Carlson says the underlying parent site is a large irregular-shaped land holding of about 1.5295ha.
"Principal Units B3 and B4 are located along the eastern rear boundary of the lot. The parent lot Unit D has a long frontage to Normanby Rd of some 79m and access to the development is via two shared common driveways running off Normanby Rd. A total of 19 units are located within the industrial park."
Stud heights are 4.2m to the portal knee within Unit B3 and 3.8m to the suspended ceiling in Unit B4.
The site is zoned Business Activity 4 which is applied to existing areas throughout the city where low-to-medium intensity light industrial and service uses are the dominant activities. "A common feature of this zone is its closeness to residential activity, consequently there is a particular need to ensure that activities within the zone don't have an adverse impact on neighbouring residential zones."
The general construction of the buildings is reinforced concrete and concrete block with corrugated iron and fibro-cement board cladding; Super Six roofing, aluminium joinery, suspended ceiling tiles, painted plasterboard and plywood internal walls.
Floor coverings comprise exposed concrete slab and carpeting and the properties have air conditioning units and ducted air conditioning.
Carlson says the reception area of Unit B on the ground floor features open high-stud space with a polished concrete floor and a mixture of light fittings. "There are a number of partitioned office rooms, two separate partitioned meeting rooms, and a large high-stud open kitchen and cafeteria with high specification fittings and three separate toilets."
Carlson says the majority of Unit B4 is workshop space used for a printing operation except part of the area for reception and a meeting room.