Stand-alone office building in Hamilton

A stand-alone office building in the Hamilton suburb of Te Rapa is being presented to the market for sale and will appeal to investors and owner-occupiers.

58 Church Road, Te Rapa has 636sq m of floor area on a 2,477sq m freehold site and includes 29 car parks.

The property is located near a range of well-known brands, including PlaceMakers, Mitre 10 Mega, and Woolworths. An assortment of cafes, restaurants, and bars are also close by.

There is excellent connectivity to arterial routes going to Hamilton’s CBD and airport as well as easy access to motorways heading towards Auckland and Tauranga.

Additionally, The Base shopping centre is just over 1km away, offering an array of retail, hospitality, and recreational amenities.

Planning, surveying, and engineering firm CKL tenants the property and it has a three-year lease in place running until March 2026, with one right of renewal of three years, leading to final expiry in February 2029.

The property returns $186,238 in net annual rental income and there are annual CPI reviews in place.

Stand-alone office buildings in Te Rapa are rarely found and the property presents a prime investment opportunity given the ongoing demand for office space in the area.

Alternatively, owner-occupiers could enjoy the passive holding income on offer before moving in and setting up their own operations.

Colliers Hamilton Brokers Alan Pracy, David Palmer, and Justin Oliver have been exclusively appointed to market the property for sale via deadline private treaty closing at 3pm on Thursday 7 August, unless sold prior.

The property consists of modern office space across two levels, offering elevated views to the north and a 70sq m storage shed with internal access.

The storage shed includes a fully serviced, wheelchair accessible toilet and wet floor shower area.

Inside the building there is a mix of open plan and traditional office space, with a reception area on the main level and partitioned office space on either side.

The north-facing staffroom includes a modern kitchenette facility and there is ranch slider access to an outdoor courtyard.

Pracy, Director at Colliers Hamilton, says the property shapes as an enticing opportunity for both investors and owner-occupiers given the vibrancy of the surrounding area.

“Te Rapa is a key commercial precinct in Hamilton, home to an array of national brands, including VTNZ, Harvey Norman, Woolworths, and Repco,” Pracy says.

“It is tipped for substantial growth over the coming decades and there will be strong demand for space as businesses flock to the wider area.”

The Hamilton City Council’s Economic Update and Outlook report, published in December 2024, showed Hamilton was the fastest-growing city in New Zealand last year, with a population increase of 3.1 per cent.

Business growth in Hamilton increased by 2.2 per cent in 2024, ahead of the national figure of 1.3 per cent.

Palmer, Associate Director at Colliers Hamilton, says business confidence is gradually returning as financial headwinds ease.

“New Zealand recorded stronger-than-expected GDP growth of 0.8 per cent in Q1 and sentiment is lifting as our economic recovery continues,” Palmer says.

“Businesses will be starting to assess their future requirements and demand for quality office space such as this will increase as economic conditions improve.”

Oliver, Associate Director at Colliers Hamilton, says the property benefits from links to major economic centres in the North Island.

“Hamilton sits within New Zealand’s economic ‘Golden Triangle’ that includes Auckland and Tauranga,” Oliver says.

“The property enjoys proximity to motorway networks and transport links and the respective CBDs of each city are easily accessible, making this a highly desirable purchasing opportunity in a key commercial hub.”

- Supplied by Colliers