14-18 Honan Place Rosebank Peninsula investment with upside

Available PropertyFiles:

  • /LIM/
    • LIM - Honan Pl, 14-18.pdf
  • /Photos/
    • 14-18 Honan Pl 01.jpg
    • 14-18 Honan Pl 02.jpg
    • 14-18 Honan Pl 03.jpg
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    • 14-18 Honan Pl 15.jpg
    • 14-18 Honan Pl 16.jpg
    • 14-18 Honan Pl 17 BL.jpg
    • 14-18 Honan Pl 17.jpg
    • 14-18 Honan Pl 18 BL.jpg
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    • 14-18 Honan Pl 19.jpg
    • 14-18 Honan Pl 20.jpg
    • 14-18 Honan Pl 21 BL.jpg
    • 14-18 Honan Pl 21.jpg
  • /Plans/
    • BCO10132623_Approved_CCC_Plan.pdf.pdf
  • /Record of Title/
    • RT - Honan Pl, 14-18.pdf
  • /Reports/
    • Asbestos Management Survey and Asbestos Management Plan Report.pdf
    • Honan Place - H&S Report - 31.05.2023.pdf
  • /Siesmic/
    • 14-18 Honan Pl, Avondale Eng Summary.pdf
    • 14-18 Honan Pl, Avondale letter 0922.pdf
    • ISA - 14-18 Honan Pl, Avondale.pdf
  • /Tenancy/
    • JW-102061-319-45-1 Deed of Lease Honan Place Executed.pdf

Property Description

• Passive industrial investment returning a net income of $322,928pa + GST
• Underdeveloped site with future extension and repositioning options available
• Excellent car parking (31), access and site flexibility for devanning and storage
• Highly sought-after Rosebank Peninsula location

This established industrial property was developed in the mid-1970s and comprises two separate buildings. Construction is typical of the era, with good presentation considering age. The original building developed to the frontage has a moderate stud height of 6.0m while there is significantly improved space providing a showroom, office and amenities, in excellent condition. The attached rear building provides a high-stud open warehouse with office and amenities over two levels.

There is a single lease over both properties, to G3 Group Limited that has been in occupation since 2018, with the rear building having been recently subleased. Potential to renegotiate the current lease and reposition the occupation profile if the ROR option is not exercised in 2028.

Industrial property on the Rosebank Peninsula continues to be sought after and is generally well-held by investors. The property benefits from having two separate structures and is of an age where future add-value development will be considered.

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Contact Nicky Joyce

Bayleys Real Estate Limited

Licenced under REA 2008

09 489 0998   027 522 5560   nicky.joyce@bayleys.co.nz   All Listings

Nicky Joyce is a North Shore Industrial Consultant within Bayleys North Shore Commercial office. A highly active and driven personality, whom is well known with the North Shore community due to running a successful Les Mills Takapuna and North Shore based personal training business. Nicola uses her knowledge and energy of the North Shore industrial market to constantly add value to her clients property needs.

Previously, Nicky spent 17 years living in London, starting, running and growing her own business, whilst investing in residential complex properties which she still owns and manages today. Prior to leaving for the UK, Nicky worked for a large corporate pharmaceutical company as a regional sales representative for Auckland and Northland.

As a landlord, investor and property owner for over 20 years, Nicky passionately believes that every real estate transaction should be a partnership with her clients, conducted with complete transparency, priding herself on integrity and her ability to create strong relationships. Nicky can be relied on to provide honest, enthusiastic and diligent real estate transactions.

In Nicky’s own time she can be found pursuing her passion of the outdoors, beaches, socialising and running. When not in Auckland Nicky heads to the family farm in the far north town of Mangonui with her 10 year old son.