G/10-12 Piermark Drive, Albany, North Shore

Proven 29-year tenant

• 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.