CBD character office brims with possibilities
A versatile full-floor character office has gone up for sale in the heart of Auckland’s CBD, with two tenancies presenting options for owner-occupiers and investors.
The self-contained office floor at Unit 1A, 3-7 High St, is part of an attractive seven-level building dating from the early 1900s. It boasts rich character features including polished wooden floors and exposed steel beams, along with an abundance of natural light.
The freehold strata-titled unit is configured to accommodate two commercial tenancies. An existing three-year lease over the rear tenancy generates annual net rental income of $61,460 plus GST and outgoings per annum.
A separate, vacant tenancy fronting on to High St is available for immediate use.
The property is being marketed for sale by way of a tender (unless sold prior) closing on Tuesday 6 July, through Bayleys Auckland Central.
Salespeople Phil Haydock, James Were and Dean Budd said the property formed level one of 3-7 High St with a total floor area of approximately 411 sq m.
“Constructed in the 1900s, 3-7 High St is a sevenlevel commercial building comprising ground-floor retail with office levels above,” Haydock said.
“Originally constructed with five levels, a further two floors were added around 1913. Over time, the building has been upgraded with its striking character attributes retained.
“The floor for sale incorporates attractive features such as polished wooden floors, brick walls, painted ceilings, double-hung sash windows to the High St frontage and feature lighting.
“This beautifully presented space is currently segmented into two separate tenancies with highquality common amenities. These include tiled floors, toilets, shower and a shared kitchen area,” Haydock said.
Were said the property had an Initial Evaluation Procedure seismic rating of 72 per cent of new building standard. The site was zoned Business – City Centre under the Auckland Unitary Plan.
Owner-occupiers and investors would be attracted by the highly desirable CBD location.
“The dual tenancies offer a buyer the opportunity to occupy with rental income on the side or the potential to establish a diversified, multi-tenanted cashflow.
“High-quality office space in this vibrant and convenient corner of the central city is a scarce and hotly sought-after commodity,” Were said.
Budd said the property was superbly positioned at the northern end of High St near its intersection with Shortland St.
“This places it in the heart of the central city’s legal and financial precinct, and just around the corner from the prime retail and office axis along Queen St.
“Also within easy walking distance is the vibrant area around Britomart and Commercial Bay, with its prestigious offices, world-class shopping and numerous popular restaurants and bars.
“Britomart also gives access to Auckland’s main public transport hub with a major concentration of rail, bus and ferry services linking to destinations right across the region,” Budd said.