265 Albany Highway, Albany, Auckland

Multi-let property with surplus land and long-standing tenants

This industrial property, part of the Centuria NZ Industrial Fund, comprises four modern standalone buildings situated within the established North Harbour Industrial Estate, well located along the eastern side of the Albany Highway.

The tenancies include a large purpose-built industrial premise with impressive offices which is the home of anchor tenant Good Health, an established company that manufactures and distributes a range of health-related products. With a showroom/workshop premises leased to Stihl, a café, and a childcare facility also on site, the property benefits from the split-risk provided through five tenants.

There is an area of surplus land to the rear of the Good Health building which currently forms part of the Good Health lease area, but Centuria considers it could be developed in the future subject to tenant demand and financial viability. Following a recent lease renewal, Good Health’s lease expires in 2036.