A prominently positioned site on a main arterial route in central Hamilton is being presented to the market for sale and offers buyers the opportunity to acquire a landholding that is primed for redevelopment.
Located at 101-105 Anglesea Street, Hamilton, the property has approximately 773sq m of land area and is held in two separate freehold titles.
There are two existing tenants at the property – Smith & Smith and Ezi Car Rental – providing holding income of $71,000 plus GST and outgoings per annum.
The lease agreements for both tenants finish at the end of November, meaning the new owner will have time to strategically plan their next moves for the site.
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Surrounding businesses include law firms and medical facilities, while Fonterra’s new office is nearby.
The city’s new Pullman Hotel that is set to open later this year is less than 1km away from the subject site.
The property is zoned Central City Zone - Precinct 2 - City Living Precinct under the Hamilton City Operative District Plan, which notes development within this precinct focuses on mixed-use, multi-level developments.
Colliers Hamilton Brokers Jason Kelsey and Blair Hutcheson have been exclusively appointed to market the property for sale via deadline private treaty closing at 3pm on Wednesday 1 April, unless sold prior.
Kelsey, Sales and Leasing Broker at Colliers Hamilton, says the property’s significant development potential will be appealing for prospective purchasers.
“With its highly visible corner location, this landholding enjoys excellent street profile and is perfectly placed for redevelopment. The new owner will be able to plan their next steps with the added advantage of holding income from two nationally renowned tenants,” Kelsey says.
“The vendor has held the property for 49 years but now it’s time for a new owner to reposition the site and write the next chapter.”
Anglesea Street is a major arterial route that runs through the centre of Hamilton, a city that is experiencing ongoing population growth with projections for further expansion.
The city’s population was measured at 192,100 in July of last year, according to data from Stats NZ and will likely top 200,000 by 2030. This continued growth will drive demand for further commercial services in the city.
Hutcheson, Associate Director at Colliers Hamilton, says the site is strategically positioned in a high-growth area.
“The southern end of the CBD is experiencing change with new developments taking shape such as the multi-building Union Square office precinct,” Hutcheson says.
“The subject site benefits from its proximity to nearby amenities with supermarkets and shopping options all in convenient walking distance.
“Prominent sports ground Seddon Park is only 1.2km away, while the city’s hospitality district is also readily accessible. Opportunities to secure development sites in prime locations such as this one don’t often present themselves.”
- Supplied by Colliers
