The headquarters of one of Tauranga’s biggest legal firms has been placed on the market for sale.
525 Cameron Road, known as The Hub, is a high-profile building on Tauranga’s commercial Golden Mile.
Anchor tenant Holland Beckett Law occupies three floors in two separate units – totalling a floor space of some 1,835 square metres.
The property is also home to other corporates including accountancy firm BDO, building firm Generation Homes Bay of Plenty, and an on-site café.
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Unit three on the first level features 402 square metres of commercial floor space and 10 basement car parks, while unit five on the upper two levels features 1,433 square metres of commercial floor space and 27 basement car parks.
The lease also encompasses some 68 square metres of secure basement storage space.
These two units are now being marketed for sale both together or separately by deadline private treaty through Bayleys Tauranga, closing on August 12.
Salesperson James Ross said Holland Beckett Law had two leases on the property – reflecting its split tenancy across the three floors.
Both leases run simultaneously through to 2025 and both with four further three-year rights of renewal, with rent reviews every three years.
Together, the two units generate a combined annual net rental of $633,485 plus GST and operational expenses including the body corp’ fees and maintenance fund.
“The high quality fit out provides open-plan office space together with numerous glassed meeting rooms on a rectangular-shaped floorplate," Ross said.
"Ample natural light is delivered by near floor to ceiling height glazing giving excellent vistas to the east and west. An exclusive use internal featured staircase provides access between the second and third floors.
“The top floor ceiling has a higher stud height than the floors below - with additional natural light provided via extra windows, while the ceiling pitch forms an attractive design feature.”
The main pedestrian entrance to The Hub’s tenancies is from Cameron Road from a formal lobby with a lift and a stairwell connecting all levels to the basement.
The Hub building was purpose built in 2008 with concrete columns and beams on concrete floor slabs. Cameron Road links Tauranga’s CBD to outlying suburbs, and is one of the city’s busiest arterial routes. The property at 525 Cameron Road is zoned for commercial use under the Tauranga City Council Plan.
Ross said numerous banks, accounting firms, law firms and other professional services entities have office premises along Cameron Road - taking advantage of the high profile delivered from its four lanes, while simultaneously allowing for bountiful on-site carparking facilities.
“This stand-alone tenancy will appeal to a broad range of buyers, from local investors to national portfolio holders,” he said.
