CBD warehouse-office property
A634sqm freehold site, consisting of two stratum-in-free-hold, unit-titled warehouse and office properties with two street frontages is for sale, with the properties offered either separately or together on the southern fringe of Auckland’s CBD.
“This offer will appeal to owneroccupiers, investors and developers,” says Cam Paterson of Barfoot & Thompson Commercial who, with colleague Ben Jamieson, is marketing 13 Galatos St and 4 South St via expressions of interest closing at 3pm on Friday, July 27.
“The two-level property appears to have been constructed circa 1960s and has been extensively refurbished and converted to character offices upstairs with a mixture of both warehouse and office accommodation downstairs,” Paterson says.
The vendor, City Cleaning, occupies floor areas of 357sq m with eight car parks at Galatos St; and 347sqm at South St. It is offering to leaseback the Galatos St property for $118,600 a year; and the South St space for $52,195 per annum. “The leases, at estimated market values, would be optional and flexible with commencements, terms and rent reviews negotiable,” Paterson says.
“This well-maintained building is in a favourable city location and has a City Centre zoning with a 30-37m height limit. If the property is sold to one purchaser, they could treat the property like freehold as there are no third-party interests,” he says.
“The site, with a depth of about 61m, is essentially rectangular with an approximate road frontage of 9m to Galatos St and 12m to South St.
The Unit A and accessory Unit 13 Galatos St address comprises the upper level of the building that was previously a warehouse which has been extensively refurbished and upgraded into high quality character office space.
Jamieson says it features polished wooden flooring, an open plan office area with tasteful partitioning, large meeting rooms, quality fit-out, excellent natural light, a high-stud ceiling, and good amenities. “This property also comes with eight exclusive car parks,” he says.
“It is primarily accessed via a recessed entrance which opens into the reception area.
“Roller door access adjoins the entrance while a stairwell is located at the rear of the unit in the southeastern corner allowing for secondary access from South St.
“Behind the reception area, a corridor runs the length of the unit down the centre from which partitioned offices are situated along the eastern, southern and western elevations.
“Also situated along the southern elevation are the kitchen and lunchroom as well as male and female bathroom facilities.”
Jamieson says Unit B at 4 South Street consists of the lower level of the two storey building and has a mixture of both office and warehouse accommodation.
He says key features include: an office area of 96sq m, warehouse of 151sq m with 3.69sq m stud height, internal car park area of 100sq m, a high-stud roller door and good quality fit-out. None of the internal walls are structural offering flexibility for future occupants.
The office access is through the main entrance way which opens into an open plan office together with two partitioned offices, a kitchen and toilet and shower.
“The office is presented extremely well with timber overlay flooring, glass office partitioning and a high stud ceiling,” Jamieson says.
“The roller door adjoins the eastern elevation and gives access to the warehouse which runs the length of the building and along the back of the office space to provide an ‘L’ shaped warehouse area.”
Jamieson says the entire building’s basic construction is of reinforced concrete foundations and flooring, with painted concrete block external walls, concrete columns and steel trusses.
Internal walls are plasterboard while the joinery employed is aluminium. The building received a new long-run metal roof with translucent panels about four years ago.
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