Architect’s former office offers superb view
Partially tenanted office building for sale at 8 Augusta Tce, Parnell.
A partially tenanted Parnell office building designed and originally occupied by award winning architect Ken Crosson is up for sale in Parnell, offering an opportunity for an owner occupier or an add value investor or developer.
Located at 8 Augusta Terrace, the four level 309 sq m building and its 190 sq m site with six ground floor car parks are being offered for sale by James Chan and Matt Lee of Bayleys Auckland.
It will be among over 30 commercial and industrial properties featured in Bayleys’ last Total Property portfolio for the year that will go up for auction on December 3.
Levels 1 and 3 of the building are tenanted on short term leases, generating gross annual income of about $59,000 plus GST.
Chan says the attractively designed building is in a superb location close to Parnell Village and on an elevated site which provides exceptional, unobstructed views of Auckland City and the harbour with its north facing position allowing it to benefit from an abundance of natural light.
He says the property presents a multitude of options including re-tenanting, a purchaser occupying the premises, or possible full or partial residential conversion.
Long-term tenant Fluid Wood Products, which specialises in a wide range of New Zealand pine products, occupies 76 sq m on Level 1 on a month to month tenancy. An area of 94 sq m on Level 2 is vacant and 43 sq m of office space on the top level is occupied by Razzbri Recruitment which has a significant presence in the digital technology recruitment market.. It is on a two-year lease which expires at the end of January next year with no rights of renewal. This floor also has a 52 sq m open deck area which provides panoramic views stretching as far as the Coromandel Peninsula on a clear day.
Completed in 1996 and a recipient of an Auckland region New Zealand Institute of Architects’ award, the building initially housed Crosson Architects. Subsequent partnerships with Paul Clarke and Simon Caranachan to form the firm Crosson, Clarke Caranachan Architecs meant the business outgrew the available space.
“Not surprisingly, given it was designed by an architect for his own working environment, the building has a lot of detail and was specified to a high quality level with an innovative and interesting use of materials,” says Chan. “It has been featured in numerous international architecture books and journals and rarely do modern commercial buildings of this stature become available in tightly held Parnell.”
James Chan of Bayleys Auckland.
Built with a steel frame structure over an existing car pad, the northern side of the building is glazed to maximize the city, port and harbour views. The black plastered southern side facing back to Parnell has smaller windows and each end of the building has dimpled aluminium sheeting. The interior features solid, core steel-face doors, with Bauhaus-designed handles, and highly specified bathrooms with Arne Jacobsen tapware, cantilevered glass vanity tops and stainless steel toilets.
Located just off the intersection of The Strand, Parnell Rise, Stanley St and Beach Rd, the property is surrounded by a mix of commercial and residential properties.
“One of the major advantages of this property is its superb accessibility,” says Lee. It is within one kilometre of the beginning of the north western State Highway16 motorway, with links to the north-south State Highway One motorway. In addition, major transport roads such as Tamaki Drive, The Strand and Parnell Rd are close by..
“This provides exceptional accessibility to all parts of Auckland,” Lee says. “There are also two bus stops around 300 metres from the property and ongoing planning for a Parnell railway station.”
An open deck area provides panoramic views.
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