A large Waikato standalone, three-year-old, modern office building, one block from Cambridge's central business district, will go under the hammer at the end of this month.
The 138sq m vacant building on a 348sq m freehold site, with four off-street car parks, at 5 Dick St, is zoned Commercial in an area of the town with a mix of residential and commercial premises.
Featured in Bayleys’ latest Total Property portfolio magazine, the property is being marketed for sale at auction at noon on Thursday June 27 through Josh Smith and Daniel Keane of Bayleys Hamilton.
They say the purpose-built office was constructed in 2016 to a high standard with a brick exterior and concrete tile roof.
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“With its open-plan layout, air-conditioned central space and high-specification staff facilities, the building would suit occupants like office-based companies, health professionals or even a veterinary clinic,” Smith says. He notes that neighbouring buildings house a psychologist and a dentistry practice – the types of practices the property for sale would be ideal for.
“The main open-plan office area has multiple connections for power, phone and data – enabling a work hub that can cater for dozens of staff. This area is supported by two private offices for management, consultation or meeting rooms depending on a new owner's needs.
“The previous tenant had 34 staff working within this property for two-years, but the business rapidly outgrew the premises and was forced to move on.”
At the rear of the building are staff facilities including unisex toilets and amenities for the disabled, a kitchen and staff room.
Keane says the interior is flooded by natural light from double glazed aluminium joinery windows. Vented air-conditioning provided by one central unit is capable of maintaining the entire work space at a controlled climate.
“Ready for occupation by a new owner-occupier, or property investor with a tenant in mind, it has a Waipa District Council valuation rating of $580,000,” he says.
“No development or refurbishment of the property is needed as it meets the latest building standards, is low maintenance and has easy care grounds. The brick and tile cladding require minimal input to maintain its professional appearance.”
Originally a residential site, the owner built a new house at the rear of the property and had the front portion rezoned to commercial 8A, then erected the office building.
Smith says the front of the open plan office could easily be partitioned or reconfigured internally, however; the property cannot be reconverted to residential use.
He says the property could also suit businesses associated with the equine sector. Cambridge is the equine capital of New Zealand where some of the world's best thoroughbred racehorses are bred in premier studs surround the town. The industry provides more than 600 jobs in the Waikato, with many based in and around Cambridge.
The property could also be suitable for national sports bodies needing administration headquarters in the region, Smith says.
Cambridge and nearby Lake Karapiro have become the centres for national sports organisations such rowing, kayaking, canoeing, triathlon; track, road, mountain and BMX biking.
Cambridge is 24 kilometres southeast of Hamilton, and is home to 19,150 people in the heart of Waikato's rural region.
