NAI Harcourts successfully negotiated the unconditional surrender of PBT Transport Limited's lease of 20 Corinthian Drive and facilitated the new lease to Active Badminton Centre, the primary provider of court facilities to North Shore based badminton players. NAI Harcourts previously held a sole agency to assign/surrender PBT's lease through the period of 2022-2023, to allow PBT to move into a design build at Hobsonville and amalgamate its West Auckland and North Shore operations. Due to site construction delays and a failed re-negotiation of lease terms following an expired sunset date this never transpired. However this process resulted in a significant amount of enquiry and when PBT announced the acquisition of its courier arm by NZ Post, NAI Harcourts had a large number of pre-qualified tenants interested to lease the building. Bayleys was also given agency to lease the property, however NAI Harcourts quickly secured the engagement of five prospective tenants following a relative short marketing period. Three of those parties presented offers to lease the property, within a multi-offer situation, which saw ABC become the successful leasee. Active Badminton Centre took a 10+5 year lease over the premises, at an annual rental of $375,054 p.a plus outgoings of approx $64,200p p.a, plus GST. Rent reviews are to market every 4 years, with CPI increases every 2 years. Two months rent free was given as an incentive, and a 12 month bank guarantee was provided by ABC as security. Unconditional date: 20th May 2024. PROPERTY DESCRIPTION: An elevated, modern industrial facility with dual entrances, comprising a 1,560sqm, 9m high stud, clear span warehouse; 260sqm of ground floor office, reception and amenities; 16 car parks. The building is located less than 1km from the SH1 on/off-ramps, and sits only 2 minutes from Albany's Westfield Mall and Albany's Park and Ride. A large number of food retailers are conveniently located within a 2 minutes walk.