Grand facade recalls Auckland of the 1880s
One of central Auckland’s heritage facade properties, the former Freemasons Hall at 7 Princes St, is up for sale offering an opportunity for an owner- occupier or an add value investor.
The three- level building was previously part of the Fonterra headquarters complex but will be available for occupation on its own separate title of about 325sq m once an upgrade of the 845sq m premises has been completed in early 2018.
“This offering represents an extraordinary opportunity to own and further enhance a landmark property in an historic CBD location,” says Colin McKenna of Bayleys Auckland office, who is marketing 7 Princes St for sale by deadline private treaty closing at 4pm, October 5, unless it sells earlier by negotiation.
“With its exquisite 19th century facade, it provides an owner- occupier looking for character space with the chance to make a real statement about their business. It could also appeal to an investor or developer with a passion for historical structures who could lease it out.”
The original building was built in 1881 for £ 3500 as a meeting place for Freemasons. Adjacent, and built almost contemporaneously, was the Grand Hotel at 9- 11 Princes St, the most luxurious hotel of its day.
McKenna says both buildings have strikingly distinctive frontages designed in a “Corinthian” or colonial renaissance ornamental style.
They were converted to office space in the mid- 1960s and the buildings were eventually demolished in 1988, although the facades were retained and incorporated into a new office tower erected behind them.
This was initially occupied by KPMG and later became the Fonterra Centre until the co- operative moved to Fanshawe St
McKenna says the total site was acquired by the current owner in 2015 and 9- 11 Princes St is being converted to a world- class apartment complex.
“The International”, which will incorporate The Grand Hotel facade. This is scheduled for completion in late 2017- early 2018.
He says 7 Princes St will be reenclosed to its maximum footprint, offering three levels of space encompassing 303 sq m of ground floor accommodation, another level of about 294 sq m and a top floor area of 248sq m plus 60 sq m of decking. The site will be re- surveyed and a new freehold certificate of title issued.
“Resource consent has been obtained to upgrade the building. This will include refurbishment of the facade to pristine condition with opaque glazing to be installed on the non- historical northern facade frontage,” says McKenna.
“Internally, specifications and finishes will be of the highest quality and include polished concrete flooring, new fire protection, ventilation and air conditioning systems as well as wiring and data outlets.
“A new lift will be installed and the stairs will be upgraded. The new owner will acquire a building that has an Initial Evaluation Procedure ( IEP) seismic assessment of 100 per cent of New Building Standard.
“There will be flexibility for the buyer to determine both the actual use and final fitout of the building.
“It would lend itself to character commercial space, residential accommodation or a combination of the two.”
McKenna says the upgrade will be undertaken alongside the development of the adjacent “The International” apartment complex, with the property available for occupation in the first quarter of 2018.
The property i s in the CBD’s Waterloo Quadrant precinct which retains the grandeur of the old city along with modern flavours, says McKenna.