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Former town council chambers go on the market for sale
Media Release
23 9.2016
Caption: From
the mayor’s gavel to the auctioneer’s gavel – the
former Morrinsville Town Council municipal chambers are
going up for auction.
The character building originally constructed as the Morrinsville Town Council chambers in the 1930s – and now housing one of the Waikato town’s most popular food and beverage operations – has been placed on the market for sale.
The Municipal Chambers premises at 46 Canada Street in the town centre is a 426 square metre single story building sitting on 1787 square metres of freehold land in the commercially-zoned part of Morrinsville. The sole tenant is Council Café & Bar which operates a fully licensed café during the day and bar/restaurant at night.
The building housed Morrinsville Town Council staff and council meetings between 1934 and the early 1990s when the administrative body was absorbed into the Matamata-Piako District Council and its function was transferred to a new premises.
Now the Canada Street land and building is being marketed for sale at auction on October 6 by Bayleys Hamilton. Salesperson Josh Smith said the property had numerous potential opportunities for any new owner – ranging from a passive investment through to developing more space for hospitality and food and beverage operations.
Mr Smith said the building was currently generating an income of $43,680 per annum from sole tenant Council Café & Bar which has a new lease on the premises through until 2019. The business caters to a diverse local clientele – including regular live music nights and private function bookings.
“An extension of the existing lease - with the new café owners appreciating what a solid business model they have purchased - would create immediate value for the asset,” he said.
“Then there’s the potential to redevelop either side of the building, or rear of the premises.
Existing in a horse-shore position on the flat rectangular land holding, there is substantial driveway access down both sides of the building- leading to extensive customer and staff car parking at the rear.
“The abundant amount of some 44 car parking spaces exclusively available for clientele of the Council Café & Bar business, is of immense benefit to the tenant - as patrons don’t have to trawl the road for parking availability, which can be a premium during weekdays.
“Subject to council consent, additional space could be created in any direction. This would expand the existing floor space, and allow for the potential catering of bigger functions.
“A bigger premises would also sustain the establishment of a dual service hospitality offering – segregating part of the premises into a dedicated bar operation, while simultaneously sustaining a separate dining zone. This would obviously support the business growth objectives of the tenant or future tenants by increasing the range of products they could offer under one roof.”
Mr Smith said there was also the possibility of expanding the current 50 person outdoor seating capacity by adding new courtyard space down either side of the building.
“Erection of a marquee style covering and heater pylons would allow for year-round customer satisfaction – keeping the drinking and dining environment warm in winter and cool in summer,” he said.
The Canada Street property consists of three separate buildings and has a council rating valuation of $825,000 – consisting of $455,000 for the building and $370,000 for the land. The front of the site is the original council chambers, where he façade of the heritage building looks exactly the same now as it did 82 years ago - even with the flag pole proudly erect over the double-width thick wooden entry doors.
This part of the building has timber flooring and brick walls with a reinforced concrete parapet. In 1995 a number of internal walls – which defined the various mayoral and councilors’ offices, as well as the public debating chamber – were removed, and steel framework inserted to meet engineering standards.
At the rear of the building are two newer single story structures built in the 1960s with a reinforced concrete wall construction method. Mr Smith said a full engineer’s report on the Canada Street property was available to potential purchasers.
Bayleys Real Estate
New Zealand
Bayleys is New Zealand's largest full-service real estate company. We offer expertise in the marketing and sale of a wide range of property, including residential real estate, farms and lifestyle blocks, and commercial and industrial property. This includes tourism and business sales such as hotels and motels. We also cover the real estate markets in Fiji and other Pacific Islands.
Bayleys also provides a complete property and facilities service including property management and valuations teams focused on achieving both Owner and Tenant satisfaction.
No other real estate company can match our breadth of coverage across all market sectors throughout New Zealand.
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