Temple Chambers at 76-84 High St, Blenheim has been occupied by the same law firm for 90 years.
Temple Chambers at 76-84 High St, Blenheim has been occupied by the same law firm for 90 years.
Temple Chambers, one of Blenheim's best known commercial buildings and occupied by the same law firm for 90 years, has been placed on the market for sale.
Located at 76-84 High Street, the building has been the long-term home of Marlborough's longest established law firm Hardy-Jones Clark - the firstlaw firm in the area providing legal services in Marlborough and down to Kaikoura.
Temple Chambers features elements of the original facade of ANZ bank, which previously adjoined the building. The bank was later demolished and Temple Chambers was extended onto the site as part of major works carried out in the 1980s under the guidance of renowned architect Sir Ian Athfield.
The freehold property with a capital valuation of $1.37 million is being marketed for sale by tenders closing on April 15 through Mark Sherlock and Glenn Dick of Bayleys.
The building adjoins the town's primary office and retail shopping precinct, with high traffic and pedestrian levels and is also close the courthouse, council buildings and council carpark building.
"Built in the 1920s, Temple Chambers has undergone several refurbishments but each upgrade retained the original character and design of the building," Dick says.
Offices within Temple Chambers overlook a sunny courtyard.
"This is a an attractive well maintained character building that is part of Blenheim's architectural history and which gives a glimpse of old architecture that has largely been lost from the town.
"The two-storey building is zoned commercial and it is presented in an immaculate condition. It comprises a mix of air conditioned open plan office space, meeting rooms, amenities, and contained offices which overlook a sunny courtyard. It has 15 onsite car parks with an abundance of public car parking nearby."
The property has a total land area of 1142sq m, with leasable areas totalling 835sqm. The tenant has a five-year lease commencing in December 2011, with one five-year and four 10-year rights of renewal and a final expiry of December 2016. Net rental earned is $163,350 per year.
"There is potential for a new owner to add value to this property, given the building has a relatively short lease, through renegotiation of the lease," says Dick.
He says the prominent central location of the building surrounded by the downtown shopping precinct ensures a high volume of passing traffic and its position close to a main arterial route also takes advantage of vehicle traffic into and out of the central city.
"This is an opportunity to buy an attractive character building with an established tenant in a prominent location within flourishing Marlborough."
