Tenanted CBD block for sale

A large commercial block is up for sale in Whangarei.

A large commercial block has come on the market in Whangarei's CBD and is for sale by auction on October 28.

Tenanted by some of the city's big corporate entities, the block is on the corner of Bank and Hunt Sts, and Vinery Lane and overlooks one of the busiest roundabout intersections in Whangarei.

Sitting on 2072 square metres of freehold land, the 1781 square metre two-storey building generates a combined annual rental income of $324,944.

The tenants include Communicorp Holdings Ltd (Spark Digital), which has a lease running through to 2024 with three further three-year rights of renewal, generating rental of $115,210 per annum. CHL Spark Digital occupies 610 square metres of first floor office space, coming with 14 allocated car parking spaces.

Tenants also include chartered accountancy practices Syers Hamilton Pool and Gunson McLean, as well as lines maintenance company Northpower Fibre and cloud computing firm Advance Data Centres.

Ross Blomfield, who is marketing the property, said the Bank St premises had one of the strongest tenancy schedules of any commercial site in Whangarei - both in quality of tenants, and the length of the leases.

"Syers Hamilton Pool has operated from this premises since 1995. Northpower Fibre is one of the region's leading infrastructure servicing and maintenance providers. And CHLSpark Digital is Whangarei's largest IT provider - so the building houses an impressive collection of corporate entities," he said.

"With two IT-reliant tenants, the building has its own back-up generators and high voltage transformers to ensure a continual electricity supply in the event of mains power falling over," he said.

"These back-up systems are situated in a secure area of the car park, so they don't interrupt the internal flow of the building's commercial spaces."

The freehold building is being offered for sale by auction on October 28 through Bayleys Whangarei. Originally constructed in the 1990s as offices for a legal firm, the building has an 80 per cent rating of New Building Standards, and was classified with an A-grade interior fit-out which includes sound-proofed walls and strengthened floors under the data centre floor plate.

Building amenities include air conditioning, separate amenities, fire system, passenger lift and security system.