Secure a central Hamilton office for your business, supported by established rental income.
Level 3, 11 Garden Place offers an opportunity for owner occupiers to move into the vacant tenancy while benefiting from income from longstanding tenant Evans Bailey.
The property comprises approximately 527m² of office space, plus approximately 23m² of basement storage, together with three basement car parks. The combination of vacant and leased space provides rental income that would discount the purchaser's occupancy cost in the property.
Evans Bailey’s lease returns $69,930 p.a. + GST + OPEX, with a separate month-to-month holding income providing a further $6,200 p.a. After allowing for unrecovered outgoings, the approximate net rental income is $53,930 p.a.
Once fully occupied the property will achieve a net rental of $100,000 or more.
Positioned at the prominent corner of Garden Place and Alexandra Street, the property places your business within easy walking distance of Centre Place, Hamilton City Council, Hamilton Central Library, cafés, restaurants and public transport. Nearby public parking adds convenience for staff and clients.
Contact Luke today for further information or to arrange a viewing.
For sale via Deadline Private Treaty closing 3pm Thursday 29th October, unless sold prior.
Features:
- Owner occupier opportunity with a vacant tenancy ready to occupy
- Income from long standing tenant Evans Bailey
- Approximately 527m² total floor area plus approximately 23m² of basement storage
- Three basement car parks
- Approximate net rental income of $53,930 p.a. after unrecovered outgoings
- Vacant tenancy of approximately 150m² gross floor area, available for the purchaser to occupy
- Central Hamilton CBD location overlooking Garden Place
- Once fully occupied the property will achieve a net rental of $100,000 or more
More information: https://www.colliers.co.nz/p-NZL67042555
