G/10-12 Piermark Drive, Albany, North Shore City, Auckland Proven 29-year tenant

Available PropertyFiles:

  • /A. Record of Title/
    • NA112A_957_Title_Search_Copy.pdf
  • /B. LIM Report/
    • Piermark Drive 10-12 Unit G_LIM.pdf
  • /C. Lease Documentation/
    • ABCorp Lease extn APR 23.pdf
    • ABnote signed New Lease.pdf
  • /D. Body Corporate/
    • 1 - Disclosure Request Form.pdf
    • 26 01 27 PRM010G PCDS .pdf
    • Body Corporate.zip

Property Description

• Long-term multinational tenant with over 25 years of occupation
• Substantial 1,400sqm quality building complemented by 28 on-site car parks
• Additional 365sqm (more or less) of expansion land
• Strong income of $278,806pa + GST and outgoings, with fixed and significant future rental growth

Held in the same ownership since construction circa 1997, the property has also been continuously occupied by the same multinational tenant (AB Corporation) since that time. The vendors have now decided to pass on this proven, long-term investment to the next owner.

The property comprises a 1,400sqm (approximately) high-quality building, together with an additional 365sqm (more or less) of surplus land (accessory unit) located at the rear of the site, offering potential for yard use or future building expansion (subject to approvals).

The property currently returns $278,806pa + GST, with significant rental growth potential available to an incoming purchaser. The current lease term runs through to 1 April 2029, with fixed rental growth scheduled in 2027 and market reviews thereafter.

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Terms of Supply

By accepting the information contained in this PropertyFile, I acknowledge I have read, understood and accepted the terms on which the information is made available.
1. Where information is supplied by the agent to customers, the information is information in possession of the Vendor(s) that the Vendor(s) are making available to the customer without endorsement.
2. No representation is made by the agent or the Vendor(s) as to the accuracy, or to the reliability, of any information made available to the customers.
3. The customer will seek such advice and explanation the customer may require from an independent specialist of their choosing.
4. Should the purchaser decide not to obtain their own specialist advice, they are deemed to have satisfied themselves on all aspects of the property and are buying solely in reliance on their own judgement and contrary to the recommendation of the agent.
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Contact Jaye Miller

Bayleys Real Estate Limited

Licenced under REA 2008

027 376 1118   jaye.miller@bayleys.co.nz   All Listings

As Bayleys Associate Director Industrial Sales and Leasing, Jaye specialises in mid to upper-end industrial and investment transactions with expertise in tenanted and vacant industrial properties to vacant land and tenant representation. Recognised as an elite performer, he has a proven reputation for achieving exceptional results for his clients.

Jaye’s background includes a property valuation degree and consistently ranking within the top 5% of the sales team in New Zealand for five consecutive years at an agency he previously worked for. While there he also held the title of the highest revenue-grossing North Shore broker from 2017 to 2022 and was the second-highest revenue-grossing broker in the countrywide business in 2020. Jaye made the move to Bayleys recognising it completes many of the commercial transactions on the North Shore, which provides a plethora of data to draw on to inform decisions and reach a wider audience when marketing properties for sale and/or lease.

Timely communication, personable and dedicated to achieving exceptional results; Jaye believes that successful real estate transactions hinge on positive relationships, which has allowed him to cultivate networks that are both extensive and deeply rooted. Jaye is available to provide expert advice and tailored recommendations across various aspects of industrial property including recent transactions, property evaluations, market trends and strategic divestment or leasing planning.


Contact Matt Mimmack

Bayleys Real Estate Limited

Licenced under REA 2008

+64 21 229 5878   matt.mimmack@bayleys.co.nz   All Listings

With over eighteen years specialising in selling and leasing North Shore Industrial Real Estate, Matt has been the influential catalyst of a number of large transactions in the area and throughout the country.

Appointed Director of Bayleys Commercial North Shore with management experience, Matt has the knowledge and experience to assist you with your commercial requirements. Priding himself on uncompromised standards Matt has an ability to deliver exceptional results for his clients.

This has carried through to being the North Shores top commercial agent for the last seven years with over 600 million dollars worth of sales concluded to date.

Being an avid sportsman with drive and a will to win, Matt has all the attributes of a successful Agent to achieve the best results for you.

Achievements:
Bayleys Top Achiever Trips 2014 – 2019
Bayleys High Achiever 2024/2025
Bayleys Top 10% 2015
Bayleys Top 5% 2016 - 2022
Bayleys BRE Top Achiever Trip 2017 & 2023
Bayleys North Shore Commercial Top Agent for 2017 - 2024