A converted and fully refurbished city-fringe factory now used as a visual effects studio has been put on the market for sale.

Originally built in the 1960s as a manufacturing facility, the two-level high-stud character building in the sought-after Auckland suburb of Kingsland underwent a major upgrade in 2020.

Bayleys salesperson Mike Adams said the original industrial features of the Kingsland Terrace property were harnessed to provide a variety of airy open-plan areas and intimate warm spaces.

These are predominantly used as editing suites and meeting rooms by established tenant Fathom Pictures, an internationally renowned creator of visual effects for television, film and commercials.

“The building has been modernised and upgraded to exacting standards, including structural strengthening to an A-grade seismic rating of 80 percent of new building standard.

“The result is immaculately presented standout premises with superior specifications and fitout. Along with the aspirational city-fringe location and world-class tenant, this makes the Kingsland Terrace site a genuine ‘trophy’ commercial property investment,” said Adams.

The freehold property at 6 Kingsland Terrace, Kingsland, Auckland, is being offered for sale by negotiation through Adams and colleague Damien Bullick, of Bayleys Auckland Central.

The building sits on some 976 square metres of land with on-site parking for 12 vehicles.

Fathom Pictures fully occupies two self-contained, full-floor office tenancies on the ground and first floors.

These are occupied on separate leases that run through to 2028 and 2029 respectively, each with two further four-year rights of renewal. With a total floor area spanning approximately 1,158 square metres, the premises generate an annual net rental return of $537,429 plus outgoings and GST.

The lease agreements incorporate three percent annual rent increases, with reviews to market upon lease renewal.

Adams said both levels of the building offered attractive views across Nixon Park, while dual entrances provide versatility and future opportunities for split tenancies.

The Kingsland Terrace property has significant future potential for intensive redevelopment as part of the flexible Business – Mixed Use zone under Auckland’s unitary plan.

Bullick said the opportunities for intensification were evidenced by a proliferation of neighbouring multi-level residential and mixed-use developments.

“Kingsland is an increasingly vibrant hub of commercial, hospitality and residential activity. The site for sale has pride of place just off the suburb’s main strip – famed for its cafes, bars and eateries, and as a staging post for fans destined for nearby Eden Park.

“The city centre is within easy reach by car or numerous bus services via New North Road and Bond Street. Kingsland train station is also within a few minutes’ walk, with services set for a major ramp-up with the impending completion of the City Rail Link,” Bullick said.