Art deco dairy factory is cream of the crop in Waikato
An historic converted Art Deco dairy factory which now houses a cutting-edge electronics business has been placed on the market for sale.
Offered to the market for the first time in 25 years, the property at 436A State Highway 26 is being marketed for sale by auction on 3 December, if not sold prior, through Bayleys Hamilton.
The building, with its Art Deco facade has a good road profile and signage opportunities to passing traffic, and is located just a few minutes east of Hamilton - an area also benefiting from the improvements to regional transport links, led by the soon-to-be-completed-Waikato Expressway.
Salespeople Jordan Metcalfe and Rebecca Bruce said the Newstead property consists of a building of 234 sqm on a quarter share of an approximately 4074-square metre cross-leased site.
The building incorporates a high-stud, clear-span workshop space equipped with three-phase power, plus separate offices and additional storage, and external yard space and parking.
The property is leased to Pure Electronics, which develops hightech products and solutions for industrial and commercial businesses. Its tenancy generates net rental income of $25,000 plus GST and outgoings, on a lease that extends through to 2021.
However, the lease agreement includes a right to earlier vacant possession if the property is bought by a new owner-occupier.
‘‘This Art Deco-style property has a fascinating historical backstory and heritage features which have seen it put forward for a Heritage-B ranking under the proposed Waikato District Plan,’’ said Metcalfe.
The Newstead site has an underlying Rural zoning from Waikato District Council and resource consent for light-industrial activity.
Ms Bruce said the area’s popularity as a rural-residential lifestyle location has helped to fuel rapid growth in recent years.
‘‘Positioned on State Highway 26, the Newstead site for sale has excellent transport connections across New Zealand’s ‘Golden Triangle’ linking Auckland, Hamilton and Tauranga. This location will get another major boost soon with the completion of the nearby Hamilton section of the expressway.’’