The upcoming sale of a high-profile site with dual buildings offers buyers a rare chance to locate their business in a key Hamilton industrial hub while earning income from a longstanding tenancy in the other building.
The larger building on the more than 840-square-metre freehold title in Frankton is vacant, opening the way for an owner occupier to move in or for an investor to instal a new tenant.
The office/warehouse/showroom premises of some 435 square metres until recently housed leading HiFi and home theatre store The Listening Post.
The second building of approximately 400 square metres generates a significant rental income from its tenant of more than 20 years, Footwork Dance Studio.
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The freehold land and buildings at 50 and 56 Commerce Street, Frankton, Hamilton, are now being offered for sale through Alex ten Hove and Luke ten Hove of Bayleys Hamilton.
The property will go under the hammer at an auction on Thursday 14 March, unless it is sold prior.
The two buildings with a combined floor area of some 835 square metres sit on approximately 844 square metres of freehold land with plenty of onsite car parking.
The dance premises incorporate a studio of some 280 square metres, along with office and amenities plus a mezzanine floor.
The larger, vacant building combines an approximately 150-square-metre warehouse with some 285 square metres of offices and amenities over two levels.
Alex ten Hove said this building offered new occupiers a modern fitout and a versatile configuration.
"With its mix of showroom, office and warehouse spaces, it is well suited to diverse business operations and will appeal to a wide range of potential new tenants and owner-occupiers.
"Given Frankton's low industrial vacancy rates, this building represents a rare chance for an owner-occupier to set up shop in an excellent industrial location, or for an investor to harness tenant demand and create dual income streams by installing a new tenant," Alex ten Hove said.
The breadth of possibilities is maximised by the property's position within the Business 7 Zone - Frankton Commercial Fringe, under Hamilton's district plan.
This provides for activities ranging from light industrial to research and innovation, trade and wholesale retail, healthcare services, and education and training facilities.
Luke ten Hove said the presence of dual buildings added further to the possibilities and scope for diversification for owner-occupiers and investors. A new owner would also have the option to subdivide and create two separate properties in future, he said.
"The site is easily accessible via front and rear entry points. Its strategic Frankton location places it in the heart of a well-established central Hamilton industrial and trade supply hub which is seeing strong occupier demand," Luke ten Hove said.
Neighbouring businesses are engaged in activities spanning the likes of healthcare, automotive, hardware and building supplies.
The Commerce Street site sits within a few minutes drive of Hamilton's central business district and is handy to State Highway 1C, enabling excellent links with Auckland, Cambridge and Tauranga.
- Supplied by Bayleys
