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The opportunity

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.

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

For Sale by Deadline Private Treaty closing 4pm, Wednesday 11 June 2025 (unless sold prior).

Contact Gawan Bakshi on +64 21 31 31 48 or Hamish West on +64 21 882 737 for more information.

Click here to view the property and surrounding area

Highlights

2,585m² freehold corner site with excellent visibility

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.

Tenant: The Ribbon Rose – established national retailer with new flagship HQ

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.

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.

The agents

Gawan Bakshi

Associate Director | Investment Sales

+64 21 31 31 48

Licensed under the REAA 2008

Email Now

Hamish West

Director | Industrial

+64 21 882 737

Licensed under the REAA
2008

Email Now

Location

Sales process

For Sale by Deadline Private Treaty closing 4pm, Wednesday 11 June 2025 (unless sold prior).

Enquire

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