Auckland CBD freehold office floor

7:58 PM Friday October 5, 2018 True Commercial

The strata-titled sixth level is within the nine-level building with pale blue and brown facings at 26 Hobson St. Photo / Supplied

A freehold office floor is for sale in Auckland’s CBD offering investors and owner-occupiers an opportunity to invest strategically.

The strata-titled unit at Level 6A, 26 Hobson St, has a net lettable area of 325sq m, making it suitable for small to medium organisations with up to 25 staff. It also has 14 CBD car parks on separate titles.

Colliers International’s brokers Simon Child and Tony Allsop are marketing the property which is for sale by deadline private treaty and is featured in the latest Colliers Portfolio. Offers close at 4pm on Thursday October 18, unless it sells earlier.

Child says it presents investors and owner-occupiers with a superb opportunity to acquire affordably-priced office space in Auckland’s CBD.

“With record low vacancy rates and firming yields, it’s becoming hard to find CBD investments under $10 million. This strata-titled freehold office property is a solid foothold into the Auckland CBD market at a competitive price point. It’s available with vacant possession, giving flexibility to owner-occupiers and investors.”

The property comprises the sixth floor of the nine-level Hobson West Towers, six secure basement car parks, and eight car parks in the parking building at 23-31 Hobson St.

“The office benefits from sweeping views of the waterfront, Auckland Harbour Bridge and Waitemata Harbour looking west,” Child says.

“Originally constructed in the 1970s, Hobson West Towers is accessed via a main entry on lower Hobson. The building has two new lifts, bathroom amenities located off the stairwell, floor-by-floor air conditioning, fire sprinklers and detectors.

“It’s construction is predominantly of steel and reinforced concrete construction.  The IEP [ Initial Evaluation Process] seismic rating is 61 so it’s not considered earthquake-prone.”

Allsop says the property is on the western side of Auckland’s CBD, about 250m from Queen St.

“There’s excellent street frontage, providing good exposure to traffic passing up one-way Hobson St. St Patrick’s Square is directly behind the property, with outdoor space to meet, eat lunch or get some fresh air; while The Viaduct, Wynyard Quarter and Victoria Park are all within easy walking distance.”

Allsop says CBD strata titles are a good option for smaller owner-occupiers wanting to insulate a business against future rent increases.

“Being based in the CBD also offers numerous business and staff benefits, including networking, accessibility and a great range of retail, dining and entertainment options.”