One of Blenheim’ s most well known commercial buildings, Temple Chambers, has been placed on the market for sale.
For the past 90 years the building has been occupied by the same business – Marlborough’s longest established law firm Hardy-Jones Clark.
The first law firm in Marlborough, Hardy-Jones Clark provides legal services in Marlborough and Kaikoura. Temple Chambers features elements of the original façade of ANZ bank, which previously neighboured the building.
The bank was later demolished and Temple Chambers was extended onto the site as part of major works carried out under the guidance of renowned architect Sir Ian Athfield.
Located at 76-84 High Street, the well-known building adjoins the town’s primary office and retail shopping precinct, with high traffic and pedestrian levels. It is also within close proximity of the courthouse, council buildings and council carpark building.
Temple Chambers has been placed on the market with Bayleys, through a tender process closing on April 15. The freehold property is being marketed for sale through Bayleys salespeople Mark Sherlock and Glenn Dick, who said the property was one of the town’s better known commercial buildings.
Built in the 1920s, the property has undergone several refurbishments and extensions including in the 1980s, under the guidance of Sir Ian Athfield. Sir Ian’s best known works include Civic Square and Wellington Central Library and Jade Stadium in Christchurch. He was appointed a Knight Companion of the New Zealand Order of Merit for services to architecture shortly before his death in January this year. The most recent refurbishment of Temple Chambers took place in the early 2000s. Throughout each upgrade of the building, the original character and design has been retained, said Mr Dick.
“This is a an attractive well maintained character building that is part of Blenheim’s architectural history that gives a glimpse of old architecture that has largely been lost from the town. Temple Chambers has a long tradition as home to this highly regarded and long-time legal practice.”
“The two-storey building is zoned commercial. It is presented in immaculate condition, comprising a mix of air conditioned open plan office space, meeting rooms, amenities, and contained offices which overlook a
sunny courtyard. There are 15 car parks onsite and an abundance of public car parking nearby.”
The property has a total land area of 1142sqm, with leasable areas totalling 835sqm. The tenant has a five-year lease commencing in December 2011, with one five-year and four 10-year rights of renewal, and a final expiry of December 2016. Net rental is $163,350 per year.
“There is potential for a new owner to add value to this property, given the building has a relatively short lease, through renegotiation of the lease,” said Mr Dick.
The prominent central location of the building surrounded by the downtown shopping precinct ensured a high volume of passing traffic. Its position close to a main arterial route also takes advantage of vehicle traffic into and out of the central city, he said.
“This is an opportunity to buy an attractive character building with an established tenant in a prominent location within flourishing Marlborough.”
The property has a Capital Valuation of $1.37 million.