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Investors ready bids for standout co-working office premises

The brand new office housing a professional co-working space in a standout mixed-use complex on Tauranga’s city fringe is going under the hammer.

The spacious office is one of five ground-floor commercial units in a new multi-level commercial and residential development known as Vantage, on the high-profile corner of Cameron Road and Fourth Avenue.

Tenanted by WorkCo Limited, a fully owned company of award-winning architectural firm Wingates, the cutting-edge premises provide a designer shared office space for WorkCo and other professionals in this sector.

WorkCo has offices in Auckland, Tauranga, Hamilton, and Christchurch, offering 24/7 access to shared spaces with meeting areas, well equipped workstations and high-speed internet.

The company’s Tauranga premises generate an annual net rental income of $100,985 plus outgoings and GST, on a current lease that runs through to 2029 with two further three-year rights of renewal.

The lease agreement locks in fixed 2.5 percent annual rental increases, with market rent reviews every four years.

Principle Unit 3, 359 Cameron Road, Tauranga, is now being marketed for sale through family sales team Brendon, Ryan and Lynn Bradley, of Bayleys Tauranga.

The unit will go under the hammer at an auction on Wednesday 29 May, unless it is sold prior.

The property comprises an approximately 196-square-metre stratum in freehold-titled unit with a six-square-metre common area share and six basement car parks.

The recently completed Commercial-zoned property has an A-plus grade seismic rating of 100 percent of new building standard.

The office contains separate client-facing and employee-facing open-plan workspaces, along with a boardroom, meeting room, and a semi-partitioned utility/storage area.

Features include the client lounge area, polished concrete and carpet tile flooring plus full glazing to the frontage/entry foyer together with the tenant’s IMO kitchen. Shared/common tiled bathrooms include five toilets plus two accessible toilets with showers.

“The space oozes luxury with an abundance of natural light, lofty ceilings presenting a strong architectural distinctiveness,” Brendon Bradley said.

“The contemporary design and high level of technology supports today’s diverse working styles. The understated clean lines of the exterior are sleek and sophisticated, enhanced by floor-to-ceiling windows bringing the outside ambiance into the office.”

Ryan Bradley said the Vantage complex was a premium mixed-use development.

“The complex encompasses two basement levels of parking, ground-floor commercial space including a proposed café tenancy, and four upper levels of residential apartments including penthouses – all exceptionally well presented with the latest architectural design.

“This building is an unmissable presence on Tauranga’s ‘Golden Mile’, with exceptional exposure at the busy junction of Cameron Road and Fourth avenue,” said Ryan Bradley.

Lynn Bradley said the property had pride of place in a coveted commercial precinct on the southern perimeter of Tauranga’s CBD.

“A renaissance is underway in the city centre with multiple projects proposed and proceeding that will give the city a more vibrant and dynamic heart. The surrounding area is home to the major new Farmers commercial/residential development, with a number of national retailers now trading in this multi-level complex.

“The office for sale benefits from handy access via Cameron Road, a core transport corridor that runs the length of the city, and other arterials Devonport Road and the Tauranga Expressway,” Lynn Bradley said.

Click here for more information on the listing.

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