Open plan office in Viaduct Harbour

A full-floor office unit with views over the Viaduct Harbour precinct is for sale.

Located in a premium office building within the tranquil Maritime Square development, the first-floor unit provides 301sq m of immaculately presented, open plan office space.

A 15sq m balcony allows occupiers to make the most of north-facing views over meticulously manicured greenery and the Viaduct Marina.

The property also offers four secure car parks and excellent proximity to the motorway network and public transport.

It is being presented to the market by Tony Allsop and Matt Plowman of Colliers International’s Investment Sales team.

They are marketing Unit 2, 14 Viaduct Harbour Avenue for sale by deadline private treaty closing at 4pm on Thursday 10 October, unless its sells earlier.

Allsop says it is an opportunity to acquire an open plan office in an area that continues to grow in esteem.

“The Viaduct Harbour is a thriving mixed-use precinct that has remained popular since its development in the late 1990s in preparation for the America’s Cup in 2000.

“The area is renowned for its numerous waterfront bars and restaurants, which are set nestled amongst apartment and office developments.

“In recent times, new hospitality offerings such as Dr Rudi’s, Saint Alice, HeadQuarters and Holey Moley have brought renewed vitality to the precinct.

“This trend is set to intensify when the America’s Cup returns to Auckland in 2021. Based out of Wynyard Quarter, the yachting competition will fuel demand for waterfront accommodation and hospitality offerings – and the Viaduct will be a key beneficiary.

“With so much activity, there’s never been a better time to become the new owner of a premium open plan office in a humming locality.”

The property is leased to innovative New Zealand company MitoQ, which sells a range of locally developed super-antioxidant supplements in more than 100 countries around the world.

The company’s breakthrough development was the world’s first antioxidant supplement to directly target cellular mitochondria, making it more effective at combatting harmful free radicals.

MitoQ is on a three-year lease with initial expiry in March 2021.

The company pays $194,824 plus GST in gross annual rent. Passing net income on the stratum in leasehold titled property is some $53,016 per annum.

Plowman says the property makes an immediate impression upon visitors.

“The ground floor entrance, clad in stone and extensively glazed, is shared with a neighbouring building.

“A magnificent Paul Dibble sculpture invites visitors into a light-filled, double-height foyer. Elevators provide access to the office floor as well as the basement car park.

“Stepping out of the lift, you’re welcomed by a tiled reception area which then rounds a corner to show off the open plan office space, swept with natural light from the plentiful windows that surround the entire floor.”

Plowman says the property is well located between Fanshawe Street and Viaduct Harbour Avenue, giving it easy access via the motorway network in all directions.

“There are four secure basement car parks, one of which is stacked. The property is also easily accessible via public transport.

“The City Link bus route, a 200m walk away, feeds directly into all other public transport networks in the CBD.”

The property is on a 20-year perpetually renewable ground lease. The current ground rental is $75,413 per annum, with reviews every five years.