A portfolio of centrally located properties in Hamilton is being presented to the market for sale, offering prospective purchasers the opportunity to acquire multiple assets with significant holding income and future development opportunities, or the entire portfolio.
With floor areas ranging in size from 548sq m to 4,060sq m, the contiguous properties make up the Waikato Farmers Trust portfolio and sit on a very significant landholding that spans 12,094sq m and is held in multiple titles.
The buildings are located at 169 London Street, 150 Tristram Street, 153 London Street, and 413-415 Anglesea Street. There is also a parking lot at 409 Anglesea Street that has 56 spaces. The properties are available for purchase either individually or in one line.
Given the size of the site, it offers a rare opportunity to obtain a holding of this scale.
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The total annual rental income from the properties is $1,092,431 plus GST and operating expenses.
Sitting in a prime CBD location, the stratum in freehold properties are zoned Central City Zone by the Hamilton City Council and boast excellent access to key amenities, public transport, and major highways.
Colliers Hamilton Director Alan Pracy has been exclusively appointed to market the properties for sale via deadline private treaty closing at 3pm on Wednesday 12 March, unless sold prior.
169 London Street sits on a 5,779sq m site and is home to a six-level, 4,060sq m office tower with a large, sealed car park.
The property returns a total net annual income of $565,879 plus GST and operating expenses. Currently only 50 per cent occupied, this building has considerable potential to be redeveloped or have the tenancy mix optimised to generate more income.
150 Tristram Street has a land area of 1,631sq m and houses a modern childcare facility that spans 548sq m.
The tenant, Jigsaw Childcare City Limited, has a long-term lease in place that runs until January 2032. The property returns an annual rental income of $195,000 plus GST and operating expenses.
409 Anglesea Street is a vacant commercial site that functions as a car park offering short-term parking leases.
It measures 1,949sq m with street frontage to a key arterial route that connects to major highways, with zoning that provides for multiple development opportunities. The current net rental income is $56,002 plus GST.
413-415 Anglesea Street is split into two titles with a land area of 1,298sq m.
There are two buildings sitting at the property that have been significantly refurbished and house tenant Hamilton Beer & Wine, who has a long-term lease. The property returns a total net rental income of $169,167 plus GST and operating expenses per annum.
153 London Street is home to a supermarket and consists of a showroom and warehouse with 20 car parks. The tenant, Asian Sari-sari Store Limited, has a lease in place that runs until November 2026 with two further rights of renewal, leading to a final expiry date of 31 October 2032. The total net rental income from the property is $106,382 plus GST and operating expenses per annum.
"The properties benefit from being located near transport options and key amenities, including a mix of retail, office, and residential developments, while being a stone's throw from Seddon Park," Pracy says.
"Investors will be attracted to the diverse income stream on offer, which is further enhanced by regular market reviews across the tenancies, while developers have a potentially large canvas to work with."
- Supplied by Colliers
