Buyers Eye Options As Two Floors Go Up For Sale In Boutique CBD Office Tower

Two versatile floors for sale in a boutique central Auckland office tower are expected to attract keen interest from commercial occupiers, add-value investors and those seeking residential conversion projects.

The contiguous full floors at levels 1 and 2, 44 Anzac Avenue, are being offered for sale with vacant possession.

These two self-contained levels of commercial office space form part of a building known as Administrator House, which lies in a prime location close to the Britomart precinct, Queen Street and the city’s busy universities district.

The precinct around Anzac Avenue has undergone a resurgence in recent years driven by a number of commercial and residential developments.

The freehold strata-titled units at levels 1 and 2, 44 Anzac Avenue, Auckland Central, are now being marketed for sale by way of a tender closing at 4pm on Tuesday 15 June (unless sold prior). The units are available for purchase individually or together, through Bayleys Auckland Central.

Salespeople Phil Haydock, Cameron Melhuish and Dean Budd said the two floors for sale each offered approximately 179 square metres of commercial office space, along with two stacked basement car parks per level.

“These floors form part of a commercial office building with nine levels plus basement, which was built around 1987,” said Mr Haydock.

“The tower’s construction incorporates reinforced concrete foundations and piles, reinforced concrete columns with pre-cast spandrel beams and infill panels. There is concrete block to the exterior walls and reinforced concrete spandrel infill panels.

“Level 1 is currently configured into a number of private offices and meeting spaces. Being a full floor, each room benefits from having its own windows and receives good natural light.

“Level 2 is presented to a similar standard and configuration, but has a larger open-plan area at the eastern end of the floor, previously used as a boardroom.

“Both floors are self-contained with their own kitchens and bathrooms, plus an exclusive balcony,” Mr Haydock said.

Mr Melhuish said the floors offered plenty of potential to add value, whether that was by refurbishing them into modern commercial offices, converting them to residential apartments, or a combination of these options.

“Versatility is a key strength of these two floors. Being contiguous, yet individually self-contained, maximises the range of possibilities open to those buying them either together or individually. As a result, this opportunity will turn heads among potential buyers with a wide range of requirements.

“For an add-value investor, there is the chance to emulate other successful residential conversions. Owner-occupiers will see the opportunity to take advantage of record-low interest rates and become their own landlord.

“Others may see these floors as the perfect canvas to achieve the balance of a live/work arrangement in the heart of the city,” Mr Melhuish said.

The Anzac Avenue units for sale are zoned Business – City Centre under the Auckland Unitary Plan and have an Initial Evaluation Procedure seismic rating of 73 percent of new building standard.

Mr Budd said buyer interest would be underpinned by the properties’ relatively affordable full floor plates and secure on-site parking in such a convenient CBD location.

“Anzac Avenue is on the eastern side of the CBD, and is effectively a link between downtown Auckland and the university precinct along Symonds Street.

“The immediate area is essentially commercial in nature, although a large number of residential apartment developments have been completed here in recent years. The Anzac Avenue precinct has experienced notable renovations of character buildings and development of new buildings.

“The proximity to Queen Street, Britomart and amenities such as Spark Arena and the motorway network is a magnet that has drawn numerous tenants to this area. It has become a very vibrant and sought-after location with an array of cafes and eateries,” said Mr Budd.

Click here for more information on the listing.

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