Utilities company’s HQ for sale has investors in pipeline

The land and buildings occupied by one of the Bay of Plenty’s biggest utilities construction and maintenance companies has been placed on the market for sale.

The warehousing and office premises at 63 Aerodrome Road in Mount Maunganui is tenanted by infrastructure engineering company Electrix which is involved in the high voltage electrical distribution lines, gas, water, and telecommunications sectors.

Electrix works in the industrial and commercial property fields, as well as on bigger infrastructure projects throughout the province. Nationally, Electrix has been trading in New Zealand since 1995 and now employs more than 1000 staff.

The company’s Bay of Plenty operations HQ is housed in 555 square metres of single-storey building sitting on 934 square metres of flat industrial-zoned land. Electrix is on a lease running through to 2021 with two further one-year rights of renewal generating annual income of $81,000 plus GST.

The freehold property 63 Aerodrome Road is now being marketed for sale by auction at 1pm on September 18 through Bayleys Tauranga salespeople Ryan Bradley, Brendon Bradley and Lynn Bradley.

Ryan Bradley said the stand-alone building had a new build standards rating of 80 percent and encompassed 184 square metres of commercial office space at the front and 371 square metres of high-stud open plan warehousing floorplate at the rear which was accessible through a 4.6-metre-high roller door. There is car parking for eight vehicles at the front of the property directly off Aerodrome Road.

“The premises is a steel portal frame construction with concrete tilt slabs on the side and rear walls on concrete foundations and flooring. The roofing features long-run iron while the internal walls are partitioned with timber and plasterboard,” Mr Bradley.

“The commercial portion of the building features a configuration of open-plan office space and a boardroom, along with a staffroom/kitchenette and bathroom facilities.

“While the building is currently occupied by one tenant, it has previously been configured into two separate tenancies – giving a degree of options for future long-term use.”

Mr Bradley believed the core of the Aerodrome Road building was constructed in the 1970s and was fully rebuilt in 1983. He said the area immediately surrounding the property had subsequently developed as a significant industrial precinct due to its proximity and easy access to the port, Tauranga CBD, and the suburbs and towns stretching down the bay’s coastline.

Aerodrome Road is approximately four kilometres from Mount Maunganui, eight kilometres from Tauranga city centre, and two kilometres from the Port of Tauranga.

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