14-18 Honan Place, Avondale, Auckland

Rosebank Peninsula investment with upside

• Established tenant who has occupied the site for eight years
• Future extension and repositioning potential
• Excellent car parking, easy access and room for container devanning
• Highly popular investment location

This established industrial property was developed in the mid-1970s and comprises two separate buildings. The original building to the frontage has a moderate stud height, while there is significantly improved and high-quality internal space providing a showroom, board room, open office and amenities. The attached rear building provides a high-stud open warehouse with an internal office structure over two levels. New roofing over both.

There is a single lease over both buildings. The tenant has been in occupation since 2018, with the rear building now subleased. Potential to renegotiate the current lease and reposition if the renewal option is not exercised in 2028. Owner occupiers should consider.

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 add-value strategies will be considered.