CBRE, as joint sole agent, is proud to present 53 Izone Drive, Rolleston, to the market on behalf of Fairview Group Property Holdings Limited and FMI Building Innovation Limited (FMI).
The opportunity presents itself to secure an 8,042sqm premium grade industrial facility, subject to a long-term 12 year leaseback in a sought after industrial location.
FMI is a leading manufacturer of aluminium joinery and glass throughout New Zealand, with approximately 300 employees in both the North and South Island. FMI’s operation spans approximately 60,000sqm of building across 92,000sqm of land and includes their new 34,000sqm multi-staged manufacturing facility in Carbine Road, Mt Wellington, Auckland.
Constructed by Calder Stewart in two stages - the majority of which in 2019, this A-Grade facility has been designed to incorporate high quality improvements to meet the long term needs of occupier FMI. The building configuration consists of two-level office accommodation, a low office-to-warehouse ratio and high-stud manufacturing space with additional components such as three five tonne gantry cranes, which are critical to the occupier’s use.
This prominent property is positioned on a high-profile corner site comprising 1.4080ha of land with an exceptional 210 metres of street frontage. Excellent circulation is provided for truck and vehicle access – an important market standard for functionality. The exceptional level of improvements and highly functional site layout, make this a highly appealing site for large scale occupiers and to all astute large scale investors.
Key Leaseback Terms:
- Tenant: FMI Building Innovation Limited (FMI)
- Initial Lease Term: Twelve (12) years (proposed)
- Commencement Date: On settlement
-Rights of Renewal: Two (2) further term of six (6) years (proposed)
- Final Expiry: 24 years from settlement (proposed)
- Fixed Rent Reviews: 3.0% annual increases (proposed)
Contact the joint sole agent for further information on this rare investment opportunity.