Allied Work Force has been the tenant at 2 Walls Rd since 2013. Photo / Supplied
Allied Work Force has been the tenant at 2 Walls Rd since 2013. Photo / Supplied
A commercial building and surrounding land for sale at Penrose has been owned by a local family trust for more than 20 years.
The property at 2 Walls Rd accommodates a labour hire a company which has operated in New Zealand since 1988, and now has 22 branches throughout the country.
The Penrose premises consists of 466sq m of ground floor office administration space, with an additional 89sq m of staff amenities on a lower level, and 28 car parks. The building sits on 2072sq m of freehold land.
The hexagon-shaped building was constructed in 1983 and was extended in 1989 when it was tenanted by ANZ Bank, before being modernised in 2016 including an extensive interior refurbishment, upgraded air conditioning system and a new roof.
It is being marketed for sale by auction at 11am on Wednesday June 27, through Bayleys Auckland.
Salespeople Mike Adams and Jean-Paul Smit say the generally-rectangular corner site location is zoned Business-Light Industry; has vehicular access from both Walls and Station Rds, closeness and exposure to nearby Great South Rd.
The tenant Allied Work Force (AWF), which has occupied the premises since 2013, is on a lease running through until 2024 with two further six-year rights of renewal, generating annual rent of $154,385 net.
Part of the interior at the offices now rented by a labour hire a company. Photo / Supplied
The lease has a Consumer Price Index-linked rent review coming up later this year.
"The property is strategically located – both from a physical sense, and in relation to AWF's tenancy — in the centre of one of Auckland's foremost light to medium industrial precincts," Adams says.
"The building's location gives visiting and staff personnel easy access to the roading networks linking up the northern, southern and eastern neighbouring industrial zones triangulating between Otahuhu, Onehunga, and Mount Wellington.
"The property has easy access to State Highway 1 via the Ellerslie interchange; is about 10kms from Auckland's central business district and 14.5kms from Auckland International Airport.
"While the building operates successfully in its current format and configuration, from a long-term development perspective, any replacement could make greater use of the available land by building a taller commercial structure on the site."
Auckland Council's Business-Light Industry zone allows for the construction of buildings up to 20m high, with the potential to be tenanted by retail, food and beverage, office or tertiary education entities.
The building is rated at 100 per cent of New Building Standards (NBS), and features reinforced concrete columns, reinforced concrete masonry walls, and interior steel columns on reinforced concrete slab flooring. The galvanised iron roof is supported on steel beams and struts, with timber purlins in between.
