A purpose-built corporate campus with a versatile building and extensive on-site car parking in a sought-after central Hamilton location is being offered to the market for sale.
101 Garnett Avenue, Te Rapa, is home to a 4,897sq m facility that could be redeveloped or may suit an owner-occupier.
The building, which sits on a substantial 1.62ha corner site, could also be repositioned to accommodate multiple tenancies.
The freehold property is tenanted by a government occupier that has confirmed their intention to vacate at its lease expiry on 31 October 2027. The annual net passing income from the property is approximately $925,000 plus GST.
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The surrounding Te Rapa precinct continues to experience strong occupier and investor demand, underpinned by its established infrastructure, extensive amenities, and proximity to key transport networks.
The property’s location provides efficient access to The Base Shopping Centre, Te Rapa Road, Avalon Drive, State Highway 1, and the Waikato Expressway, enabling convenient connectivity throughout Hamilton and the wider ‘Golden Triangle’ that also includes Auckland and Tauranga.
The property is zoned Industrial Zone, and it has a 93 per cent seismic rating.
Colliers Hamilton Brokers Alan Pracy and Matthew Morris have been exclusively appointed to market the property for sale via deadline private treaty closing at 3pm on Thursday 19 November, unless sold prior.
The building at the property is spread across a single floorplate and has stud heights ranging from 4m to 7m, providing flexibility for an array of future occupier requirements.
The improvements incorporate expansive open plan office areas, extensive meeting and training facilities, a central landscaped courtyard, a roller door, cafeteria, and quality staff amenities. With 202 on-site car parks, the property offers an excellent parking ratio.
Pracy, Director at Colliers Hamilton, says the scale of the opportunity means it will appeal to a wide array of prospective purchasers, and the short-term holding income is another bonus.
“The existing layout provides a logical platform for future subdivision and multi-tenant occupation, supported by extensive parking and multiple access points,” Pracy says.
“Or, subject to the relevant council consents, there is scope to pursue redevelopment of the asset, underscoring its future potential.
“Owner-occupiers will also be attracted to the property as acquiring it would allow them to establish a sizeable footprint in one of Hamilton’s most keenly sought commercial and industrial hubs.”
Te Rapa accommodates a broad range of national occupiers, logistics providers, manufacturers, trade retailers, and service-based businesses. Hamilton’s CBD can be reached in less than 10 minutes, while the State Highway network is less than 2km away.
Morris, Sales and Leasing Broker at Colliers Hamilton, says the high-profile building has a commanding street presence and excellent exposure.
“The property’s strategic position supports both operational efficiency, given its proximity to the network of businesses that trade from Te Rapa, and workforce accessibility,” Morris says.
“The surrounding area is a preferred destination for businesses seeking a central Waikato location.”
- Supplied by Colliers
