Britomart on the doorstep

9:41 AM Wednesday September 17, 2014 Colin Taylor

Level 7 of the building has views around the city.

Freehold property with 360 degree views would suit professional firm with city links

A refurbished and versatile office floor that would suit a wide range of users has been put up for sale in Auckland CBD.

The 225sq m floor on Level 7 at 2 Emily Place will be auctioned on October 1 unless it sells earlier by private treaty through Damien Bullick and Cameron Melhuish of Bayleys Auckland, who are marketing it.

The floor is part of a medium rise CBD office tower, located between Emily Place and Beach Rd close to the intersection with Customs St East and Britomart Place on the doorstep of the vibrant Britomart precinct

The 11-storey building was completed around 1987 and has a high seismic rating of 118 per cent of New Building Standard.

It comprises nine levels of offices and two residential penthouse floors with car parking on the ground and basement levels.

Level 7 consists of a full freehold floor with 9sq m of decking plus covered, secure car parking for two vehicles in the basement.

Bullick says the property provides a professionally presented open plan office floor. "It has recently been refurbished to a high standard, complete with new carpet, kitchen and bathroom facilities. Being an elevated full floor, it has 360 degree inner-city and harbour views. It also benefits from excellent natural light because of the building's extensive glazing and location with few other buildings of similar height surrounding it. The floor's open plan, column free configuration also means it is very versatile space that would suit a wide range of businesses," Bullick says.

"It provides a good amount of boutique space for a smaller to medium sized professional services firm or company. This is an opportunity to exclusively occupy a whole floor at a very affordable price which generally isn't possible in newer, more recently developed CBD buildings having much bigger floor areas."

Bullick says the property is located in an area that has a mix of low to high rise office and residential buildings and is handy to a wide range of CBD amenities.

"There is an interesting range of eateries, cafes, bars and boutique shops nearby which have sprung up with the redevelopment of the Britomart area. This makes it a popular place to work and live. It is also only a short walk from the waterfront and the Queen St shops and banks."

Melhuish says there is strong interest in vacant CBD office floors from owner occupiers. "With interest rates still at relatively low levels ... servicing a mortgage to acquire an office floor often works out cheaper than paying rent. And with rentals on good quality office accommodation forecast to rise because of an increasingly tight supply, buying a premises also protects businesses against future rental increases.

"Purchasing a property also provides businesses with increased flexibility. Owners can simply sell at any time or retain an asset that should increase in value as CBD prices rise. With a lease a business owner is locked in for a fixed period of time."

Melhuish says 2 Emily Place is one of the closest freehold strata buildings to Britomart.

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What's on offer
The property: A 225sq m city office floor
Location: Level 7 at 2 Emily Place
Agency: Bayleys Auckland
Sales method: Auction on October 1
Features:
On doorstep of Britomart precinct.
High seismic rating of 118 per cent of NBS.
360 degree inner-city and harbour views.
Ideal for smaller to medium sized professional firm.
Handy to a wide range of CBD amenities.