Potential to reap reward from investment
Looking for a vacant property with potential and upside? The majority aren’t new and don’t come with all the bells and whistles, but every property has its purpose.
Take 16 Goodfellow Pl, Frankton. From the outside looking in, the list of issues is obvious: rusty roof, needs paint, weather-tightness issues, potential asbestos, but there’s good potential here if you can see the wood for the trees.
‘‘This property, being auctioned on December 5 at NAI Harcourts, offers a large
1990sqm floor area over three levels at a fraction of replacement cost and a land area of
2218sqm (more or less),’’ says Aaron Donaldson, who is marketing the site with Scott Sander.
Situated within the triangle of Frankton, Hamilton’s CBD and Te Rapa, with great access to State Highway 1 north and south, this location speaks for itself.
‘‘Fix the issues; add some cosmetic touch-ups to improve the use/uses, which in turn should increase the return on investment, possibly significantly,’’ says Sander.
‘‘The building will be sold with vacant possession.’’
The vendor’s seismic report confirms the building is 50 per cent NBS, proving this old girl has great bones.
A wide variety of industrial activities can be applied at this site. Also included in the sale is an additional 1299sqm of bare land on a separate title, a valueadding opportunity to keep or sell off.
Also, for auction on the same day are two smaller wellpresented properties ideally suited to professional owneroccupiers.
The first, at 211 Peachgrove Rd, has been converted from residential to professional offices.
This fully consented commercial premises would fit an owner-occupier, allowing for a second tenancy in the separate fully self-contained annex.
Located close to the growing Five Cross Roads commercial centre, the property takes advantage of some 11,000 vehicles passing daily. Offered with vacant possession, the 880sqm site includes consent for beneficial on-site parking.
It forms part of the Residential Intensification Zone under the City’s district scheme, underpinning its future value. ‘‘Opportunities to occupy such professional offices are becoming scarce,’’ says Brad Chibnall, who is marketing the property with Theo de Leeuw.
‘‘All is presented to a high standard and air conditioned, but the possibility remains to reconsider this freehold site in the future for conversion to a high-density residential use.’’
Interested in owing your own offices outside the CBD, but have never been able to find a property which reflected a truly professional environment? Take a close look at 522 River Rd, nearby the Fairfield Bridge.
This 120sqm quality modern office was originally built as a show home/office and has been occupied previously by Gentry Homes and Co-operative Bank. The property currently has resource consent for office and specific retail use.
Marketing agents Brad Chibnall and Kara Gerrand of NAI Harcourts believe the presentation of this property befits a professional occupier and the property’s wide frontage provides excellent branding opportunities to the passing traffic.
The layout of the property comprises a reception area, three offices – one large enough for a board room – separate kitchen/lunchroom and bathroom facilities. The property offers a contemporary look and reinforces a professional impression.