The warehouse premises of one of New Zealand’s biggest maintenance, electrical and mechanical engineering companies have gone up for sale in a Hamilton industrial stronghold.
The property for sale on Ellis Street, Frankton, sits within one of Hamilton’s most sought-after industrial pockets and a destination trade supplies hub.
Its clear-span warehouse and refurbished offices are fully leased to RCR Infrastructure (New Zealand) Limited, generating an annual rental return of $71,400 plus GST and outgoings.
With a lineage dating back to 1954, RCR caters to the in-demand building infrastructure sector, specialising in air-conditioning, ventilation, refrigeration, building management systems and electrical services.
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From preventative maintenance programmes to retrofits and multi-million-dollar installations, its work has featured in some of the country’s highest-profile commercial and retail buildings.
The New Zealand owned and operated business has further branches in Auckland, Tauranga, Wellington, Christchurch and Palmerston North and a network of subcontractors across regional New Zealand.
RCR occupies its Frankton premises on a lease that runs through to 2024 with a further four-year right of renewal.
The property at 128 Ellis Street, Frankton, Hamilton is being marketed for sale by Jordan Metcalfe and Rebecca Bruce of Bayleys Hamilton. It will go under the hammer at auction on Thursday 3 November, unless sold prior.
Metcalfe said the property consisted of an approximately 623-square metre building on a half share of some 1,493 square metres of Industrial-zoned land.
“The building features a high-stud, clear-span warehouse, plus recently refurbished offices, and amenities. It sits on a site that provides plenty of onsite parking and space for manoeuvring vehicles.
“The property’s Frankton location places it in the heart of a well-established central Hamilton suburb which is seeing significant occupier demand,” said Metcalfe.
Industrial zoning of this and surrounding sites under Hamilton’s district plan is designed to retain the area’s status as a stronghold of industrial activity.
“Considered the city’s trade supply hub, this precinct is home to the likes of plumbing, bathroom, roofing and paint providers, together with those in fields such as automotive, engineering and waste management,” said Metcalfe.
Bruce said the location was supported by significant local amenities, with numerous hospitality outlets on offer around Greenwood Street and Hamilton Lake also being close by.
“Just minutes from Hamilton’s central business district, the site for sale is handy to main arterial routes such as Killarney Road and State Highway 1C.
“This ensures ease of access across Hamilton and the wider ‘Golden Triangle’ between Hamilton, Auckland and Tauranga.
“In short, this is one of the most sought-after industrial pockets in Hamilton. With industrial tenanted assets being increasingly difficult to secure, investor interest in the Ellis Street property is likely to extend well beyond Hamilton,” Bruce said.
- Article supplied by Bayleys
