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Marine navigation firm’s standout premises on the map for investors

The standout property housing a top electronic marine navigation provider and a groundbreaking bionics business has gone up for sale in a North Shore industrial hotspot.

The modern warehouse/office building on Hillside Road, in the sought-after Wairau Valley industrial precinct, is anchored by Electronic Navigation Limited (ENL) and Rex Bionics.

The property generates a total annual net rental return of $531,514 plus outgoings and GST from three tenancies.

ENL lays claim to being New Zealand’s premier marine electronics company. With over 75 years in the marine industry, the privately-owned company develops software and hardware solutions for seabed surveying, mapping, defence, superyachts, commercial fishing and workboats.

Rex Bionics is a cutting-edge biotech manufacturer which designed and developed the REX robotic exoskeleton, the world's first hands-free, self-supporting robotic exoskeleton. This enables rehabilitating patients to stand and walk without crutches while undertaking robot-assisted physiotherapy and weight-bearing exercise.

The freehold land and buildings at 46-48 Hillside Road, Wairau Valley, Auckland, are being offered for sale by Nicky Joyce, Matt Mimmack and Laurie Burt of Bayleys Commercial North Shore.

The property will be sold by deadline private treaty closing on Thursday 7 December, unless it is sold earlier.

Joyce said the standalone building of approximately 2,422 square metres sat on some 3,749 square metres of freehold land with 48 on-site car parks.

“Constructed around 35 years ago and last refurbished in 2020, this versatile property features a large high-stud warehouse of over 1,000 square metres accessed via two stud-height roller doors. Some 1,364 square metres of modern offices over two floors enjoy plenty of natural light and are air-conditioned throughout.

“The building’s flexible internal configuration allows for multiple tenancies or a single large occupier, with amenities on both levels and the ground floor offering a deck area situated off the shared kitchen. This versatility makes the site suitable for a wide range of businesses,” said Joyce.

The property has an Initial Evaluation procedure seismic rating of 70 percent of new building standard.

Mimmack said plentiful car parking was a crucial advantage ensuring convenience for employees and clients.

The Hillside Road property sits within the Business – Light Industry zone under the Auckland Unitary Plan, providing for a multitude of uses such as manufacturing, production, logistics, storage, transport and distribution.

“Wairau Valley is the North Shore’s original commercial/industrial area and continues to be very popular for businesses, attracting a wide array of industrial, retail, showroom, office and yard-related activities,” said Mimmack.

Burt said the building’s elevated and prominent presence, visible from the Northern Motorway, made it a standout in Wairau Valley.

“The property benefits greatly from a location in the heart of this keenly sought-after industrial hub, with convenient access to local amenities and motorway interchanges enhancing connectivity and accessibility for businesses.

“The diversified income from three separate tenancies will heighten its attractiveness to commercial property buyers seeking a high-quality investment,” Burt said.

Click here for more information on the listing.

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