Property Description

272A Ti Rakau Drive presents an outstanding opportunity to secure a fully leased, split-risk investment in one of East Auckland’s most sought-after commercial precincts. Recently refurbished, this high-profile industrial property offers strong tenant covenants and excellent income growth potential.

The property features a modern, well-presented warehouse and showroom with polished concrete floors, high stud height, and upgraded amenities. Its dual-access design allows for efficient vehicle movements and container drop-offs, while the prominent road frontage ensures exceptional exposure and signage opportunities.

The property generates a combined net rental of $132,000 + GST per annum, with structured rental growth built into both leases. The first tenancy, occupied by Abundance East Trust, is secured on a five-year lease from 19 August 2024, returning $107,000 net per annum, with market rent reviews every two years and 2.5% fixed increases every alternate year. A six-month gross bank guarantee provides additional security. The second tenancy, leased to Prodontics, commenced on 1 September 2024 on a two-year term with multiple rights of renewal, returning $25,000 net per annum, with market rent reviews every two years.

With a total floor area of approximately 552sqm, including 334sqm of warehouse with roller door access and 218sqm of office and showroom across two levels, the property is well-appointed to cater to a range of occupiers. The site benefits from 10 exclusive car parks and a container-friendly layout, further enhancing its appeal.