Unlock Central Hutt Industrial Investment

A fully-leased specialist industrial building with an established international tenant, is expected to draw enquiry from around the country given the ongoing shortage of stock and the relentless demand for industrial space.

The property at 28 Downer Street was originally constructed for Switzerland-headquartered security firm Securitas in 1978, with subsequent refurbishments carried out in 2013 and 2019.

The current occupier is the multi-disciplinary building services, retail security and security system provider Sensormatic New Zealand Limited, which is owned by Johnson Controls Luxembourg European Finance Sàrl.

The fringe Lower Hutt CBD property has dual access and is located on the south side of Downer Street, close to its intersection with Bristol Square, in a precinct that features destination service-related retail, automotive dealerships and trade premises.

It is being marketed by Fraser Press and Paul Cudby, Bayleys Wellington Commercial and will be auctioned at 11am on Thursday 17th March.

Cudby said while the property has always been occupied by firms in the security and monitoring sector, it would transition to another commercial or industrial user with ease and is a highly sought-after asset.

“The property has been occupied by security companies for 44 years and given its construction and amenities, is a natural fit for this sector however, the building is flexible enough to morph into other business usage,” he said.

“Recent auctions and other sales campaigns for property of this calibre in Lower Hutt have attracted significant enquiry and qualified buyer interest.

“There simply isn’t enough investment stock to go around and that scarcity factor continues to drive activity in the commercial and industrial market currently.”

The Downer Street property is a 570sqm two-level concrete building with the ground floor offering office space, a secure monitoring bunker and a workshop/warehouse to the rear which is accessible

© Scoop Media