Harbourside Business Park office space in Avondale for sale; MyHR signs new seven-year lease with annual income of $157,200 starting March 1 2025

May 2, 2025 (The New Zealand Herald) –

A fully refurbished commercial property for sale in West Auckland's established Harbourside Business Park in Rosebank Rd , Avondale, gives investors the opportunity to lock in a bottom-drawer offering with the security of a new seven-year lease to a well-entrenched tenant.

Occupying the entire first floor of a stand-alone building within the precinct, the property at 485C Rosebank Rd comprises around 450sq m of office space with large windows, good natural light and expansive views of the inner Waitemata Harbour.

The layout provides for a mix of open-plan areas, meeting rooms and staff amenities, and there are 20 designated on-site carparks associated with the units.

It is occupied by international HR tech firm, MyHR, which offers online HR support for more than 1500 businesses across New Zealand , Australia and Canada .

MyHR's new seven-year lease began March 1 2025 and has one further seven-year right of renewal. The property returns a net annual income of $157,200 plus GST with fixed annual increases and a market review on renewal, providing stable returns for investors.

Built in 2004, the Harbourside Business Park spans five distinct buildings encompassing over 20,000sq m of offices and warehousing on more than 4ha on the eastern side of Rosebank Rd.

As it is set back from the main road, the precinct provides a quiet location for office-based businesses and was judged the country's best commercial real estate project at the Property Council's 2005 awards.

Phil Haydock and Alan Haydock of Bayleys Auckland Metro team, with Bayleys Northwest colleague Ankur Dakwale , are marketing the property with tenders closing Tuesday May 13 .

With a weight of money coming off term deposits and volatility in other investment classes including the sharemarket, Phil Haydock says property is proving a very attractive investment vehicle.

"Add in the OCR cuts, some further trimming of interest rates still expected and business confidence has been boosted which will be reflected in property yields.

"This well-located and superbly presented property offers effortless hands-off income with low management demands and secured by the long lease to a high calibre tenant.

"The wider Rosebank Rd precinct is very tightly held, particularly across industrial stock, and this award-winning business park is also sought after.

"The tenant has committed to the site as it has worked well for their business, and there are definite efficiencies in this West Auckland market."

The convenient location offers streamlined motorway connectivity via SH16 and the Waterview Tunnel , ensuring logical and seamless access to Auckland's CBD, airport and wider metropolitan area.

Dakwale says this is a cornerstone West Auckland business park that has proved popular with occupiers given those connectivity advantages, strong carparking ratios and the modern space on offer.

"As such, it has attracted a good mix of professional tenants spanning national and international businesses. There have been very few recent sales or leasing transactions in the business park itself which speaks to the strong fundamentals and stable occupiers."

-- Supplied by Bayleys