Town centre offices with government tenant
The land and prominent main street building leased to a government agency — vacant while awaiting refurbishment and modernisation — is for sale.
The Ministry for Social Development administration and customer services offices is conspicuously located in Thames’ main street. The building was rebuilt and modernised in 1997 to meet the tenant’s needs at that time.
A lease is in place with a request for remedial works to be undertaken before the agency moves back in.
The freehold land and single-storey rectangular building at 646 Pollen St is to be auctioned on March 14 by Bayleys Ngatea.
Salesperson Josh Smith said the address comprised 535sq m of commercial office space sitting on 1015sq m of land zoned commercial under the Thames Coromandel District Council plan.
“Recent occupancy requirements by the tenant have seen the Ministry of Social Development request for modernising works to be undertaken at the site, which the current landlord is not prepared to complete. Consequently the property is being offered for sale,” said Smith.
“This presents a unique opportunity for a new owner to step in, upgrade and reconfigure the property to meet tenant’s expectations, and unlock its full potential with the tenant moving back in.
“Internally, the ministry’s administrative space consists of a large open-plan reception and waiting-room area facing out to the road, multiple small consultation offices in the middle which are used for client meetings, and staff amenities including bathrooms and a lunchroom at the rear of the building.”
The ministry is on a current three-year lease at the site, with two further three-year rights of renewal, generating annual rental income of approximately $76,000 plus GST and operating expenses.
The rear of the flat rectangular site is accessed by a private service lane and contains a private carpark for 13 staff vehicles. A back door allows staff to enter and leave the building away from the public. Ample parking for customers is available at the front of the building facing Pollen St.
Pollen St is the spine of Thames’ CBD. Many of the buildings are built in character styles indicative of the first part of last century. Neighbouring businesses include stand-alone and nationally-branded food and beverage operations, as well as healthcare and wellness providers.