Contrast reflects portfolio’s variety
Insite offerings include a CBD office floor and a substantial property split into five titles in Onehunga
by Colin Taylor An office floor in an Auckland CBD tower building and a large Onehunga mixed- use property occupied by industrial, retail and residential tenants are among a wide variety of offerings being marketed in conjunction with the launch of Barfoot & Thompson’s first 2013 Insite portfolio of commercial and industrial properties.
Agents Jan Workman and Sue de Jong are marketing for sale vacant central city office space on Level 2 at 26- 28 Hobson St, which will be sold by auction at 1pm on Thursday, May 2, at the agency’s auction room at 34 Shortland St unless it sells before that.
‘‘ The property, zoned strategic management area one, is held on unit title as a stratum estate in freehold,’’ says Workman.
She says Hobson Tower i s a 10- level office building dating from the mid 1970s. ‘‘ Architecturally it is t ypical of the period, being a rectangular building featuring brick veneer infill cladding above concrete spandrels to all levels. Services include central air conditioning, heat detectors and sprinklers and t win passenger lifts. Suites are tightly held by many owner occupiers.’’
Workman says the property on offer comprises a functional, full- level office suite on Level 2 with good light and outlook from the front and rear. It A property on Level 2 of an office block in Hobson St ( above left) and a mixed- use block in Onehunga ( above right) are featured in the Barfoot & Thompson line- up of commercial and industrial properties. The red border at right identifies the buildings being marketed for sale. is partitioned to encompass a large boardroom, a mix of offices and a kitchen with breakout hub. ‘‘ The site is more or less rectangular in shape with a frontage to Hobson St of about 30.9m and a depth of around 19.9m giving a total area of 586sq m.’’
Workman says the building is on the eastern side of Hobson St about 50m north of the main Wyndham St and Hobson St intersection; and is about 150m south of the intersection with Hobson St and Fanshawe St.
It has excellent access to the northsouth SH1 motorway and to the northwestern SH16 motorway via the Fanshawe St interchanges.
‘‘ Hobson St carries a reasonable volume of traffic in a southerly direction, being a one- way street,’’ de Jong says.
‘‘ Central Queen St is within a fiveminute walk, as is the nearby Viaduct Basin, which is home to a number of restaurants, bars and apartment developments.’’
Surrounding properties include a large number of office developments and purpose- built apartments. A Wilson Parking building i s across the road on the corner of Hobson St and
or
Hobson
St Wyndham St, as is the Heritage Hotel, occupying the well- known former Farmers building.
Next to the tower building on the southern side of the building and accessed from Federal St is a two- level car park building which is controlled by a card access system.
‘‘ The three car parks allocated to this property are on individual titles, being numbers 71C, 72C and 92C, which are uncovered car parks on the upper level of the adjacent car park building,’’ says de Jong.
‘‘ This property would be ideally suited to an owner occupier in the professional services area. Businesses within the building include a lawyer, architectural firms and an insurance agency.’’
The property in Onehunga comprises land in five titles at 88- 94 Onehunga Mall and 1/ 5 O’Rorke St, says broker Ewan Orsborn, who is selling the complex by deadline private treaty closing at 4pm on Wednesday, May 1.
‘‘ The site is occupied by a variety of industrial buildings and is being offered as one parcel but the owners will also consider sales of the individual titles,’’ Orsborn says.
According to council records, the buildings for sale comprise a total net lettable area 2387sq m of industrial space and a residence of 86sq m.
‘‘ The property is at the southern end of Onehunga Mall with a rear frontage to O’Rorke St and is within easy walking distance of the retail precinct and the Onehunga Rail Station.
‘‘ The location also allows convenient access to the Southwestern [ SH20] Motorway in both directions,’’ Orsborn says.
‘‘ After 60 years in Onehunga the owners of the properties are moving to larger, more suitable, premises. As a consequence this substantial site is being offered for sale with some passing income from three other tenancies.’’
Before a decision by Star Box Manufacturing operations to move to another site, the buildings had been generating an annual income of $ 173,060, of which $ 75,500 was paid by Star Box.
The current annual income i s $ 97,560 plus GST, made up of rent of $ 42,000 from Commercial Traders ( Furniture) Ltd on a lease expiring on August 25; $ 46,200 from a monthly tenancy to The Power Tools Centre; and $ 9360 from a residential tenancy at 5 O’Rorke St, Onehunga.
‘‘ Although the tenancies appear short term, all tenants have been long- term occupiers and in the case of the Power Tool Centre for over 20 years,’’ Orsborn says.
He says it appears from news reports that proposed changes to Auckland’s unitary plan will allow redevelopments in Onehunga to eight levels in certain areas.
‘‘ However, council planners are unable to elaborate any further at this stage.’’