Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Real estate agency’s regional HQ building goes up for sale

Media Release


Going, going, gone…. real estate agency’s regional HQ building goes up for sale

The land and ultra-modern building housing the regional headquarters for the Waikato’s leading full-service real estate agency have been placed on the market for sale simultaneously.

The at 96 Ulster Street on the northern approach to Hamilton’s central business districts houses the offices for Bayleys. Repurposed in 2015, it also accommodates insurance broking firm Rothbury, which is owned by Bayleys Hamilton’s parent company.

The 685 square metre two-storey building and 25 staff and customer car parks sit on 1,776 square metres of flat land overlooking the busy intersection with Mill Street.

The freehold land and building at 96 Ulster Street are now being marketed for sale by auction on December 6 through Bayleys Hamilton, Salespeople Mike Swanson and Alex ten Hove said the commercial space was purpose-built for Bayleys in a modern, open plan, and semi-industrial interior décor and feel.

“The office accommodates some 50 personnel across the company’s multiple service divisions – encompassing sales and administrative teams in the residential, commercial and rural property sales sectors, along with the Rothbury insurance advisory staff,” said Mr ten Hove.

“The lower level of 504 square metres is particularly flexible in how it can be configured - with floorspace consisting of Bayleys’ reception area, communal staff café which is utilised by members of the public during functions and events, and a large auction room where Bayleys conducts residential, commercial and rural auctions on a weekly basis.

“Small meeting rooms to the side of the main auction floor are used for hosting property vendors through the auction process so they can view proceedings privately, yet be on hand for negotiations should they be required.

“When not used on auction days, the offices are used for vendor and purchaser meetings. Upstairs, the 181 square metre mezzanine level features a break-out room, with more open-plan office workspace – creating a very collegial atmosphere among all employees.”

Success Realty Ltd, trading as Bayleys is currently on a 10-year lease at the Ulster Street premises, running through until 2025 with two further six-year rights of renewal, and generating rental of $224,080 per annum.

Originally built in 2011, the building was completely refurbished and modernised internally and externally in 2015 into its current look and fitout. It has a new build standards rating of 100 percent.

Mr Swanson said the building had been future-proof designed to accommodate Bayleys’ ever-growing staff compliment as the company continued to increase its market share in all three real estate sectors throughout the Waikato.

“The apex location of this office parallels the dynamic of the strong tenant profile which is firmly anchored in the Waikato economy. Extensive naming-rights signage and spotlighting around the exterior of the premises ensures this is one of the most instantly recognised landmark buildings in Hamilton.

“As well as hosting numerous client functions and events inside the office throughout the course of the year, the office and its adjoining car parking amenity are regularly used for marquee-style functions before major rugby matches at the nearby FMCG Waikato Stadium just a few hundred metres away,” Mr Swanson said.

“Last year’s Lions game in Hamilton was a particularly well-attended Bayleys pre-game ‘warm-up’.

“This is a trophy property which ticks all the criteria from a quality investment perspective – a premium-grade building in a prime location, with an established tenant, on a long lease.”


© Scoop Media

Business Headlines | Sci-Tech Headlines


Grey Power: Is Disappointed To Learn Of More Bank Closures

Many older people are being left without essential services because of cost cutting and the march of modern technology. It is now expected that most banking transactions can occur via the internet or telephone. Jan Pentecost, President of the Grey Power ... More>>


Economy: Supply Chain On Brink Of Overload Says National Road Carriers

The New Zealand supply chain is on the brink of overload and it looks like the upcoming peak imports season may push it over the edge says National Road Carriers Association (NRC) CEO David Aitken. “Worldwide supply chains are in disarray,” says Mr Aitken. ... More>>

Retail: Supermarkets Announced As Government’s Second Market Study

The Government has today launched a market study to ensure New Zealanders are paying a fair price for groceries. More>>


Statistics New Zealand: Retail Sales Recover In The September 2020 Quarter

Retail sales values recorded the largest September quarter rise since the series began in 1995, Stats NZ said today. Spending on major household items, vehicles, and groceries contributed to the strong 7.4 percent ($1.8 billion) rise in total ... More>>

Kea Aerospace: New Zealand Flies Into The Stratosphere

Development has started on a solar-powered, unmanned aircraft that can fly in the stratosphere continuously for months at a time. The zero-emission aircraft will carry a suite of imagery equipment that will be game-changing for many industries, vastly ... More>>

Stats NZ: Births And Deaths: Year Ended September 2020

Births and deaths releases provide statistics on the number of births and deaths registered in New Zealand, and selected fertility and mortality rates. Key facts For the year ended September 2020: 57,753 live births and 32,670 deaths ... More>>


Forest & Bird: Kākāpō Wins Bird Of The Year 2020

The nation has voted and Aotearoa New Zealand has a new Bird of the Year. New Zealand’s moss-colored flightless parrot has climbed to the top-spot for the second time in Forest & Bird’s annual Te Manu Rongonui o Te Tau/Bird of the Year competition. ... More>>