894 Great South Road, Penrose, Auckland City, Auckland

Positioned on a high-profile corner of Great South Road in Penrose, this modern industrial investment presents a rare opportunity to secure a quality asset with a strong tenant covenant and excellent exposure.   Completed in 2020, the 2,470m² building offers a flexible mix of showroom, warehouse, and office space on a 2,585m² freehold site. The property is fully leased to The Ribbon Rose, a well-known, family-owned national retailer specialising in craft, fine arts, and haberdashery.   Returning an attractive net rental of $551,668 + GST + OPEX p.a., the property is underpinned by an 8-year lease that commenced in May 2023, with 6 years remaining on the current term.   The Ribbon Rose relocated their flagship store to this newly built facility, which features three floors of curated craft departments and a national distribution hub — reinforcing their commitment to the site.   For Sale by Deadline Private Treaty closing 4pm, Wednesday 11 June 2025 (unless sold prior).   Quality industrial investments with strong leases and national tenants in central Auckland are tightly held — act now to secure a standout asset in a premier location.   Interactive Virtual 3D Tour: https://realsee.ai/MELLxjqL

Features:

• Tenant: The Ribbon Rose – established national retailer with new flagship HQ
• Lease Term: 8 years from 2023 (6 years remaining)
• Net Income: $551,668 + GST + OPEX per annum
• Site: 2,585m² freehold corner site with excellent visibility
• Building: 2,470m² high-spec construction (completed 2020)
• Zoning: Business – Heavy Industry with consented retail use rights
• Location: Strategic position with easy access to SH1, SH20, the CBD and Airport

More information: https://www.colliers.co.nz/p-NZL67034164