Imposing city-fringe office tower goes up for sale

Imposing city-fringe office tower goes up for sale through international tender

One of the biggest commercial office blocks on Auckland’s CBD fringe has been placed on the market for sale – following an extensive modernising and refurbishment upgrade.

Callplus Business Centre near the top of Symonds Street is a 10 storey block with some 8788 square metres of office space leased to a variety of tenants returning an annual income of $2.3million.

The imposing structure was built in 1988 and is described as “a classic example of solid 1980s post-share market crash architecture and construction.” The commercial block has car parking for 167 vehicles on three levels and sits on 1852 square metres of freehold land in a rectangular shape.

The building is designed around a figure-eight floor plan serviced by three elevators in the centre. On each level the larger wing creates a floor plan of approximately 602 square metres, while the smaller wing has a floor plan of approximately 324 square metres. The Symonds Street building is constructed of reinforced concrete columns and beams sitting on reinforced concrete flooring, and is A-grade rated under seismic strength regulations.

The tower’s ducted air-conditioning unit recently underwent a $300,000 upgrade, while there are three power generators installed in the basement providing back-up power for the larger tenants. All nine floors of commercial space, as well as the ground floor of retail space leased to Sierra Cafe, have been upgraded over the past six years.

Callplus Business Centre is being marketed through an international tender campaign by Bayleys Auckland executive director David Bayley and senior commercial and industrial salesperson Gordon Gibson.

David Bayley said that with 50 square metres of street frontage onto one of Auckland’s busiest road and rising prominently above neighbouring properties, the naming rights exposure for the current tenants, and indeed tenants in the future, were considerable.

“The current owners purchased the block some six years ago and over recent years have invested considerably in totally modernising the internal amenities to ensure the building competes with other A-grade listed stock in the city,” Mr Bayley said.

“Callplus Business Centre sits on a ridge on one of the most elevated points in the CBD. As a result, the views from the upper floors are expansive – stretching from the Waitakere Ranges in the west out to the Waitemata Harbour and Rangitoto in the east.”

Sixteen tenancies within Callplus Business Centre feature a diverse range of industry sectors ranging from the head offices for a medical equipment manufacturer and an agri’-chemicals firm, through to an accountancy practice and an insurance brokerage. Call Plus is the lead tenant. Each of the nine floors of commercial occupancy has its own kitchenette and bathroom facilities.

“With such an imposing floor plan contained within one site, the building offers the potential to have a spread of tenancies in place as is currently leased, or to accommodate the head offices of one or two large corporates,” Mr Bayley said.

Gordon Gibson said the block was situated in a strategic location on the city’s fringe – adjacent to the university campus network, with links to State Highway One less than 100 metres away, and on several main bus routes. The Symonds Street precinct has a high proportion of education and IT related companies operating in area – while numerous cafes and eating establishments also in close proximity.

The international tender for 110 Symonds Street closes on July 4.

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