Two office levels to lease in CBD building

5:00 AM Wednesday April 26, 2017 Colin Taylor

The NZ Mint building at 48 Greys Ave in which two floors are available for lease. Photo / Supplied

Two office floors are available for lease in an Auckland city building on which New Zealand Mint has naming rights and is a key tenant.

“The building is currently 100 per cent leased but tenant Datacom is relocating to its new building in The Viaduct in July which will leave behind vacant space,” says Zane McAlpine of St Heliers-based Bermac Property Group who, with fellow director Warren Berman is seeking to lease Levels 2 and 3 at 48 Greys Avenue. 

Bermac is the property and vacancy manager for the property which features on-site amenities that include a cafe, restaurant, convenience store, basement parking, secure bike racks, and showers.

“We are interested in hearing from any prospective non-education tenants for the building in the professional, corporate and government fields,” McAlpine says.

“The landlord is looking at short to mid-term tenancies preferably of three-to-four years and up to a maximum of five years.”

The total area available to rent about mid-year is 1790sq m comprising Levels 2 and 3 with floor plates of around 895sq m each and a floor-to-ceiling height of 2.7m.

McAlpine says the space to lease has excellent natural light and a good outlook. “It has been significantly upgraded during the past five years and is fully air-conditioned with refurbished bathrooms and the installation of a modern security system monitoring the common areas with closed circuit television.

“The building also has secure basement parking with up to 12 car bays available at $75 per week.”

Level 2 could be taken over with an older fit-out available to the new tenant along with a secure lobby, meeting rooms and offices. 

It could also be divided into split tenancies. The asking rent for Level 2 with a total area of 895.4sq m is $180 per sq m or an annual total rental of $161,172 (as is) with operating expenses of $82,375 per annum. 

Level 3 of 894.8sq m has been recently renovated and redecorated into a modern open-plan layout with new carpet, ceiling grid, tiles and Pan light fittings; and is ready for a lessee to walk in and occupy.

The lease is put at $230 per sq m for a total annual rental of $205,804 and operating expenses of $82,325 per annum.

“We want a full floor tenant only for Level 3 which is essentially ready to occupy,” Mc Alpine says. “The leases for both floors have fixed annual rent increases built in of 2 per cent per annum with no market reviews during the initial term.”

Other tenants within the NZ Mint building include Statistics New Zealand, Attache, Greys Ave Superette, Myers Cafe and Halo restaurant.

Berman says the landlord is supporting a new tenant JuceBox Limited which will soon occupy an area at the basement and Greys Ave levels in a space soon to be called the Tech Bunker.

“It is envisaged that Tech Bunker will bring in other like-minded businesses,” he says. “Some of the JuceBox products being developed are a spa pool smart app, micro-brewery automation and building inspection automation.”

Berman says the surrounding city location is about to undergo a huge transformation with the Civic Quarter development, an extensive upgrade of neighbouring Myers Park, the Central Rail Loop, and a new railway station to be constructed at nearby Aotea Square.

“Queen Street shopping and entertainment centres are only 100 metres away while the Metro Centre, Sky City, Elliot St Stables dining centre, the site of the National Convention Centre, Albert Park and the Victoria Quarter are all within a short walking distance.”

The building has good access to the State Highway 1 north-south and SH16 north-western motorways, and the western cycleway and is well served by regular bus services.