Electrical store in busy Frankton
The land and buildings housing a Waikato electrical services company’s office headquarters has been placed on the market. The property at 54 Greenwood St, in the industrial Hamilton suburb of Frankton, comprises a 230sq m warehouse depot and offices on about 485sq m of freehold industrial-zoned land facing on to one of Hamilton’s busiest streets.
It is tenanted by electrical services firm Contact Electrical, which is willing to sign a new one-year lease on settlement of new ownership of the premises, along with a further one-year right of renewal. The new lease will be for $32,400 plus GST per annum.
The property is being marketed for sale at auction at 11am on September 13 through Bayleys Hamilton. It features in Bayleys’ latest Total Property portfolio magazine.
Bayleys Hamilton salespeople Alex tenHove and Mike Swanson say some 24,900 vehicles travel along Greenwood St on an average week day. The route forms part of SH1, as the main arterial road linking Hamilton’s northern and southern suburbs.
“That high traffic volume has seen a gamut of multinational convenience food outlets — including Subway, McDonalds, Carls Jr, Wendys and Burger King, KFC, Pita Pit and Burger Fuel — establish a presence in this strip,” tenHove says. “Commercial neighbours include car yards and automotive companies.”
Swanson says the siting of the building in the middle of the site allows for parking on either side.
The property contains two openplan workrooms or offices, a staff lunchroom and bathroom amenities.
“There are multiple options for the site. It can be maintained in its current configuration as a headquarters for a trades-based enterprise,” Swanson says.
“Roller door access on one side of the building, allows for the conversion of some of the office layout into a light trades depot.
“Or a completely new structure could be built to capitalise on the high-profile exposure to Greenwood St.”