A character, historic standalone building in central Auckland is up for sale for the first time in 23 years.
5 O’Connell Street, known as Administrator House, is a two-level building constructed in 1925 offering approximately 285sqm of internal floor space and a unique 15.37sqm outdoor rooftop deck.
It is being marketed with vacant possession by Henry Thompson of Whillans Realty Group, with tenders closing 4pm October 20.
Thompson says it would be perfect for a business looking for a central city location in a unique character freehold building that stands out from everything else around it.
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It currently provides ground floor showroom and office space with further office and meeting space upstairs. The whole property could easily accommodate a private family office, barristers’ chambers, architect, designer, boutique investment bank, legal or other professional office, showroom or gallery space.
“Many of the city’s finest character buildings are tightly held by private investors and family trusts who typically take a long-term and even a generational view to investment, so freehold buildings like Administrator House are a rare find indeed,” Thompson says.
The building sits on a 180sqm site and has an 11-metre street frontage onto O’Connell Street.
Thompson says they anticipate a lot of interest in the property because character buildings rarely came up for sale, especially in an “affordable” price bracket, and even more so with vacant possession.
“With historically low interest rates, owning a building like this could now be a more cost effective option compared to leasing similar premises.”
He says the property is unique and arguably one of the finest character buildings on O’Connell Street. Built in 1925 for the Alliance Insurance Company, it was designed by Rough and Hooper to establish a visual corporate identity for Alliance Assurance.
The two exterior stone medallions depict a castle standing on a rock which are the original Alliance Assurance emblems, symbolising strength and security.
Other notable architectural features include an ornate Oamaru limestone facade above a base of Nelson marble, an internal marble staircase and exquisite wall and ceiling moldings plus bespoke French doors on the ground floor. There is also ample natural light throughout.
There are two separate entrances to the building, both located on O’Connell Street. One provides direct access to the ground floor retail. The other provides access to a lobby and corridor leading to the marble staircase and the first floor offices.
The ground floor has a soaring 4.5 metre high ceiling complete with ornate molding work.
The first floor office features polished concrete floors, exposed ceilings, a kitchenette and a partitioned boardroom. A flight of stairs at the rear of the tenancy leads to the outdoor rooftop deck.
In January 2020, resource consent was granted to seismically strengthen Administrator House to 67 percent of new building standard. Strengthening work is required to be completed by 2054.
Located just two streets back from Queen Street and parallel to High Street, Administrator House is positioned in Auckland’s golden mile block of retail and offices. Nearby are the headquarters for some of the country’s largest corporate, legal and financial service companies, with O’Connell Street still being one of central Auckland’s most sought after addresses, Thompson says.
“It is directly opposite the landmark General Buildings, less than 200 metres from four public car parks, five minutes’ walk from the Britomart train station and Downtown ferry terminal. And 100 metres from lower Queen Street.”
In 2014, O’Connell Street underwent a major upgrade which transformed the street into a pedestrian friendly thoroughfare. This upgrade cost approximately $4.4 million and included new bluestone paving, lighting, landscaping, sculptural seating and public artwork.
In 2018, a brass and mirror sculpture was installed and suspended over the street. Designed by artist Catherine Griffiths, the sculpture is supported by anchors tied to Administrator House. A license agreement between Auckland Council and Administrator House Ltd documents these support anchors.
“Foot traffic along O’Connell Street has subsequently improved since the road upgrade was completed and it’s now a pleasant pedestrian walkway surrounded by upmarket retail and established restaurants and cafes and outdoor seating,” Thompson adds.
