Bayleys Waikato HQ for sale and leaseback

7:48 PM Friday November 16, 2018 Colin Taylor

The two-storey Bayleys Waikato HQ building at 96 Ulster St, Hamilton. Photo / Supplied

The freehold land and buildings housing Bayleys’ Waikato headquarters, on the northern approach to the Hamilton CBD, are for sale and leaseback.

Repurposed in 2015, the property at 96 Ulster St, also accommodates insurance broking firm Rothbury, which is owned by Bayleys Hamilton’s parent company.

The 685sq m two-storey building, with 25 car parks, occupies 1776sq m of flat land overlooking the busy intersection with Mill St.

The property, which features in Bayleys’ latest Total Property portfolio magazine, will be auctioned at 11am on December 6, through Bayleys Hamilton.

Salespeople Mike Swanson and Alex ten Hove say the commercial space was purpose-built for Bayleys, with a modern, open plan, and semi-industrial interior decor and feel.

“The office accommodates around 50 personnel, working across the company’s multiple service divisions; sales and administrative teams in residential, commercial and rural property sales sectors and members of Rothbury insurance advisory staff,” says ten Hove.

“Configuration of the lower level of 504sq m is particularly flexible. Floorspace includes Bayleys’ reception area, plus a communal staff cafe which caters to members of the public during functions and events. There’s also a large auction room, where Bayleys conducts residential, commercial and rural auctions on a weekly basis; small meeting rooms to the side can host property vendors in private.

“When not used on auction days, offices host vendor and purchaser meetings,” ten Hove says.

“Upstairs, the 181sq m mezzanine level has a break-out room, with more open-plan office workspace that contributes to a collegial atmosphere among all employees.”

Success Realty Ltd, trading as Bayleys, has a 10-year lease running through until 2025 with two further six-year rights of renewal, paying annual rent of $224,080.

Built in 2011, the building was completely refurbished and modernised internally and externally in 2015 into its current look and fit-out. Its seismic rating equals 100 per cent of the New Build Standard.

Swanson points out that the building has been future-proofed to accommodate Bayleys’ growing staff.

“Extensive naming-rights signage and spotlighting around the exterior highlights one of the most instantly recognised landmark buildings in Hamilton,” he says.

“The office hosts numerous client functions and events, while the car park is the scene of marquee-style functions ahead of big major rugby matches, at nearby FMCG Waikato Stadium. Last year’s Lions game was an excellent example.”