The land and building housing a branch of one of New Zealand’s largest retail banks in the centre of Thames' heritage precinct have been placed on the market.
The meticulously restored premises housing Westpac Bank is situated in the Pollen Street retail hub of Thames on the Coromandel Peninsula.
Thames' CBD, known as the Shortland Heritage Area, contains some of the town’s most historic buildings, such as the building at 515 Pollen St.
Historic files from Thames Coromandel District Council’s heritage report note that: “Pollen Street’s commercial buildings achieve a collective architectural significance given their general consistency of height, construction to the front of the lot and provision of a veranda.
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"Although no building exceeds two storeys within the Heritage Area, some of the commercial buildings have large parapets above the first floor, which gives them greater prominence within the streetscape.’’
Exemplifying the heritage architectural styles identified in the Thames Coromandel District Council report, the land at art-deco style two-storey building at 515 Pollen Street in Thames houses the town’s Westpac Bank branch, including a street-facing cash dispensing machine.
The freehold commercially-zoned 819-square metres of land and 529-square metres of buildings are being marketed via auction on March 19 through Bayleys Coromandel.
Salesperson Josh Smith said the Westpac Bank benefitted from its prominent location within the town’s busiest street – underpinned by substantial road parking for customer convenience.
“This fabulously located property within the heart of Thames’ central business district sees the bank situated amongst a plethora of locally-focussed retail outlets and professional services offices which underpin solid patronage volumes of both vehicle and foot traffic,” Smith said.
“The exterior elegance and interior fit-out of the Westpac Bank property jointly pay homage to the extensive and ongoing maintenance and upkeep which both the landlord and tenant have contributed to over the years – from carpeting and painting, through to the installation of commercial air conditioning units throughout the building.
‘’The Westpac Bank building at 515 Pollen Street also benefits from completed strengthening work which supports its continued commercial use as befitting a premier location in a modernised premises.
"It has a New Building Standards rating of 67 percent.’’
Westpac Bank’s tenancy at 515 Pollen Street generates annual rental income of $76,755 plus GST and operating expenses. Westpac is on a current lease expiring in 2028.
Inside, the building is segregated into several different ‘zones’ – such as the open plan public customer service area and bank teller stations, adjoining customer meeting rooms on one side and administrative offices behind, and staff amenities including bathrooms on the lower level and a staff lunchroom and additional office space upstairs.
Staff parking for some 12 vehicles is situated at the rear of the premises, and is accessed by a private laneway running off Sealey Street.
As well as Westpac Bank, nationally-branded retailers along free-flowing Pollen Street include homeware outlet Noel Leeming, building supply store Mitre 10, furniture and homewares store Farmers, supermarket Four Square, telecommunications service provider Spark, banks, several real estate agencies, along with multiple stand-alone food outlets and car yards.
As the town’s retail hub, Thames Coromandel District Council has identified Pollen Street for millions of dollars of renovations and upgrades to improve stormwater, wastewater, and general water pipelines.
More than $5 million has been set aside in Thames Coromandel District Council accounts for the planning, design, pipe laying, and roading reinstatement project to be undertaken in stages over coming years.
The staged works programme will ensure Pollen Street’s infrastructure keeps the locale’s appeal at the forefront of the town’s greater retail destination.
‘’Pollen Street sustains virtually everything Thames locals need in one street. From a long term-perspective, it’s highly encouraging to see that Thames Coromandel District Council readily acknowledges Pollen Street to be the centre of economic and social activity in Thames, and has committed funds to ensuring the road’s appeal and relevance to the wider community,” Smith said.
‘’That confidence in the area can of course be taken on board by any new owner of the land and buildings at 515 Pollen Street who may at some stage look at undertaking any structural enhancement or improvements to the premises,’’ he added.
The Thames branch of Westpac Bank is one of many Westpac sites across the Coromandel Peninsula – with sister branches at Paeroa, Whitianga, and Waihi, in addition to multiple ATM locations.
- Supplied by Bayleys
