650 Te Rapa Road, Te Rapa, Hamilton

Reap the rewards

•Prime Te Rapa office location
•Generous 30 car parks
•A-Grade Earthquake Rating

Purpose-built for ANZ Bank, this robust 920sqm (more or less), two-level office building is perfectly positioned to meet the strong market demand for office space in Te Rapa, complemented by exceptional parking facilities. With the current district plan restricting new office developments outside the CBD, this property's existing office use rights are a significant advantage.

Featuring solid construction, this property offers a prime opportunity to enhance both the exterior façade and interior fit-out to meet modern tenant expectations for premium office space. Whether you're a add value investor, developer or owner-occupier, this is your chance to unlock substantial value.

Recognizing the potential for a modern upgrade, the current owners are ready to pass this opportunity to a new owner. The property generates a holding income of $138,708.44 p.a. plus OPEX, with an additional tenancy available for lease at $70,000 p.a., providing flexibility and income to support long-term development plans.

With construction and land costs at historic highs, astute buyers will recognize the value in the expansive land and building footprint on offer. Seize this opportunity to secure a high-value asset in a sought-after location.

The property is being sold by way of tender closing on 30th October at 4pm (unless sold prior).