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

 

Office building could be a jewel in the Crown for investors

Government-leased office building for sale could be a jewel in the Crown for investors



Internal offices

The land and building housing the offices of two key government agencies in the Waikato township of Huntly have been placed on the market for sale.

The single-storey premises on a freehold site in the town’s central business district is fully leased to crown entities the Ministry of Social Development and Waikato District Health Board. The property generates annual rental income of $77,000 plus GST per annum.


The Ministry of Social Development leases approximately 310 square metres of the building for offices and a public-facing service centre, paying total annual rent of $35,000 plus GST per annum. The ministry’s current lease runs through to 2024, with three further three-year rights of renewal.

The Waikato District Health Board occupies a further approximately 498 square metres, generating rental income of $42,000 plus 50 percent of the outgoings and GST per annum. The District Health Board has occupied the site since 2013 and has recently confirmed renewal of the lease until June 2021.

The property is for sale for $1.3 million plus GST, if any, representing a net return of approximately 5.4 percent.

The William Street property is now being marketed for sale by Bayleys Hamilton. Salespeople Alex ten Hove and Mike Swanson said the site had a total lettable floor area, including a common area used by both tenants, of approximately 890 square metres on some 1,844 square metres of freehold land incorporating six car parks.

Mr ten Hove said the building was a relatively modern office complex - constructed in the 1980s from brick with tile roofing. The premises had nearly 30 metres of frontage onto William Street - a major north-south route through Huntly town centre.

“The building has an Initial Evaluation Procedure rating of 107 percent of new building standard. This A-grade seismic rating, along with the high overall quality of the construction and internal fitout, are key features of these premises which are also supported by the presence of significant off-street parking,” said Mr ten Hove.

The William Street property is zoned Commercial under Waikato District Council’s district plan, with a wide range of permitted activities including commercial, education and health.

“The property is located in the heart of Huntly’s central business district in close proximity to the court house, police station and fire station – and beside a depot for Go Bus Transport, which provides local and inter-regional public transport links,” Mr ten Hove said.

Mr Swanson said that, with a resident population of around 8,000, Huntly was a substantial provincial town servicing the northern Waikato.

“The town’s growth was historically driven primarily by coal mining and the large-scale Huntly power station – the town’s major landmark overlooking the Waikato River,” Mr Swanson said.

“Today, Huntly and the surrounding district increasingly support the area’s productive farmland.”


Mr Swanson said Huntly was a key point along the Hamilton-to-Auckland transport corridor, which also connected with Tauranga to form part of New Zealand’s prosperous and rapidly-growing ‘Golden Triangle’ area.


“Huntly’s convenient connections to the large urban catchments to the north and south are supported by the nearby Waikato Expressway – linking the town to Hamilton, 32 kilometres to the south, and Auckland, just over an hour’s drive to the north,” Mr Swanson said.

“The main trunk railway line running through the town also provides a key connection for people and freight.”

A new $92 million commuter rail service between Hamilton and Auckland would further improve Huntly’s public transport connections to the large population bases in both centres, he said.

“This key transport and infrastructure project – including a significant upgrade to Huntly Station – will open up new options for commuters. A number of city workers are already choosing to live and commute from Huntly, taking advantage of the relaxed lifestyle and more affordable housing options the town offers,” Mr Swanson said.

“The William Street property will be of interest to investors seeking a passive commercial property investment underpinned by the presence of high-profile government agency tenants in a central and well-connected location within New Zealand’s ‘Golden Triangle’.”


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Science Media Centre: Funding For R&D In New Zealand – Expert Reaction

Research, Science and Innovation Minister Dr Megan Woods has today announced $401.3 million funding for research and development through Budget 2020 and the COVID Response and Recovery Fund. The fund includes $150 million for an R&D loan scheme, ... More>>

ALSO:

Maritime NZ: NZ Joins Global Initiative Keeping Ports Open And Freight Moving

New Zealand has joined an international port authorities’ global initiative for safe and efficient movement of goods and shipping during the COVID-19 crisis. World-wide, 56 port authorities have agreed how they will work together facilitating maritime ... More>>

ALSO:

National: National Backs Businesses With $10k JobStart

National will provide a $10,000 cash payment to businesses that hire additional staff as part of our commitment to keeping New Zealanders in jobs, National Party Leader Todd Muller and Finance spokesperson Paul Goldsmith have announced. Our JobStart ... More>>

ALSO:

DIY Law: Government Exempts Some Home Improvements From Costly Consents

Homeowners, builders and DIYers will soon have an easier time making basic home improvements as the Government scraps the need for consents for low-risk building work such as sleep-outs, sheds and carports – allowing the construction sector ... More>>

ALSO:

Media Awards: The New Zealand Herald Named Newspaper Of The Year, Website Of The Year At Voyager Media Awards

The New Zealand Herald has been labelled a “powerhouse news operation” as it claims the two biggest prizes – Newspaper of the Year and Website of the Year – along with many individual awards at the 2020 Voyager Media Awards Website of the ... More>>

ALSO:

ASB Bank: ASB Takes The Lead Again With New Low Home Loan Interest Rate

ASB has moved again to support its customers, cutting a number of home loan rates, including the two-year special rate to a new low of 2.69% p.a. Craig Sims, ASB executive general manager Retail Banking says the reduced rate will be welcome news for many ... More>>

ALSO:

Nathan Hoturoa Gray: The Problems With Testing And Case Statistics For Covid-19

To begin to understand disease transmission in a country requires adequate testing of your population with properly vetted, accurate tests. As the world struggles to find what 'adequate percentage' of the population is necessary, (estimates predict ... More>>

ALSO:

RNZ: Fletcher Building To Lay Off 1000 Staff In New Zealand

The construction company will cut around 10 percent of its workforce as it struggles with the fallout from Covid-19. More>>

ALSO:

Can Pay, Won't Pay: Cashflow Moves Urged

Government Ministers are asking significant private enterprises to adopt prompt payment practices in line with the state sector, as a way to improve cashflow for small businesses. More>>

ALSO:

Gordon Campbell: On Why We Should Legally Protect The Right To Work From Home

For understandable reasons, the media messaging around Level Two has been all about “freedom” and “celebration”, but this is not necessarily going to be a universal experience. When it comes to workplace relations, Level Two is just as likely to ... More>>

ALSO:



New Zealand Government: Supporting Kiwi Businesses To Resolve Rent Disputes

The Government will legislate to ensure businesses that suffered as a result of the COVID-19 response will get help to resolve disputes over commercial rent issues, Justice Minister Andrew Little announced today. More>>

ALSO:


Science Media Centre: Understanding 5G Concerns – Expert Q&A


Recent attacks on cell phone towers have brought concerns over the rollout of 5G technology into sharp relief.
While scientific research has consistently shown that the technology does not adversely affect human health, public concerns about its impact have spread around the world, fueled in part by growing misinformation online. The SMC asked experts to comment... More>>

ALSO:


Trade: Record Monthly Surplus As Imports Dive

Imports in April 2020 had their biggest fall since October 2009, resulting in a monthly trade surplus of $1.3 billion, Stats NZ said today. “This is the largest monthly trade surplus on record and the annual goods trade deficit is the lowest ... More>>

ALSO:


Media Blues: Stuff Chief Executive Buys Company For $1

Stuff chief executive Sinead Boucher has purchased Stuff from its Australian owners Nine Entertainment for $1.
The chief executive was returning the company to New Zealand ownership, with the sale is expected to be completed by 31 May.
"Our plan is to transition the ownership of Stuff to give staff a direct stake in the business as shareholders," Boucher said in a statement.... More>>

ALSO:

RNZ: Bar Reopening Night 'much, Much Quieter'

Pubs and bars are reporting a sluggish first day back after the lockdown, with the fear of going out, or perhaps the joy of staying home, thought to be a reason for the low numbers. More>>

ALSO:

Stats NZ: New Zealand’s Population Passes 5 Million

New Zealand's resident population provisionally reached 5 million in March 2020, Stats NZ said today. More>>

NIWA: Seven Weeks Of Clearing The Air Provides Huge Benefits: Scientist

Seven weeks of lockdown has provided evidence of how pollution can vanish overnight with benefits for the environment and individuals, says NIWA air quality scientist Dr Ian Longley. Dr Longley has been monitoring air quality in Auckland, Wellington ... More>>

ALSO:

Government: Milestone In Cash Flow Support To SMEs

A significant package of tax reforms will be pushed through all stages in Parliament today to throw a cash flow lifeline to small businesses. More>>

ALSO: