The opportunity exists to express interest in an investment into 233 Collingwood Street.
233 Collingwood Street is a premium commercial property located in a prominent position at the elevated corner of Collingwood Street and Ruakiwi Road, Hamilton CBD. The building is named after its lead tenant NZI (New Zealand Insurance) which is owned by IAG Ltd (Insurance Australia Group) an ASX listed company.
WorkSafe NZ has also recently entered into an initial 6-year lease for the ground floor tenancy, providing added security through a government lease. There is a third, smaller tenancy on the ground floor which has a 1 year lease from settlement to Wallace Construction Limited, who are the vendors.
The NZI building is located 500m from the new $50m ACC office development that will accommodate 650 staff. This project is mid-way through construction by the Iwi-owned Tainui Group Holdings and is scheduled for completion in October 2022.
- Premium location in Hamilton CBD
- Anchored by large corporate and government tenants
- 49 on site car parks
- Long term leases with regular rental growth
- Brand new air conditioning system throughout
- Net income of $678,409 + GST and outgoing
- “A” Grade seismic rating
- 2152 sqm freehold site with 1721 sqm of net lettable area
- Purchase price of $14,000,000
- 1st December 2021 settlement date
- Offer partially underwritten
To see the related brochure click on the Documents tab.
For more information, click the Register Interest button.