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Town centre office block with government tenant placed on the market for sale

The land and prominent main street building leased to a government agency, but currently vacant while awaiting refurbishment and modernisation works, has been placed on the market for sale.

The Ministry for Social Development administration and customer services offices in the township of Thames at the base of the Coromandel Peninsula in the North Island is conspicuously located in the town’s main street. The building was rebuilt and modernised in 1997 to meet the tenant’s needs at that time.

The Ministry for Social Development is the Government agency tasked with managing employment pathways, income support and superannuation services, funding to community service providers, drafting social policy and advice to the Government, administering student allowances and loans, and providing social housing assistance.

While the Ministry of Social Development does not currently occupy the building in central Thames, a lease is in place with a request for remedial upgrade works to be undertaken on the premises before the agency moves back in.

The freehold land and single-storey rectangular building at 646 Pollen Street in Thames is now being marketed for sale at auction on March 14 by Bayleys Ngatea. Salesperson Josh Smith said the address comprised some 535-square metres of commercial office space sitting on 1,015-sqaurre metres of land zoned commercial under the Thames Coromandel District Council plan.

“Recent occupancy requirements by the tenant have seen the Ministry of Social Development request for modernising works to be undertaken at the site, which the current landlord is not prepared to complete. Consequently the property is being offered for sale,” said Smith.

“This presents a unique opportunity for a new owner to step in, upgrade and reconfigure the property to meet tenant’s expectations, and unlock its full potential as a consequence with the tenant moving back in.

“Internally, the ministry’s administrative space consists of a large open-plan reception and waiting room area facing out to the road, multiple small consultation offices in the middle which are used for client meetings, and staff amenities including bathrooms and a lunchroom situated at the rear of the building.”

The Ministry of Social Development is on a current three-year lease at the site, with two further three-year-rights of renewal, generating annual rental income of approximately $76,000 plus GST and operation expenses.

The rear of the flat rectangular-shaped site is accessed by a private service lane, and contains a private car park for 13 staff vehicles. A back door allows staff to enter and leave the building away from the public. Meanwhile, ample car parking for customers is available at the front of the building facing onto Pollen Street.

Pollen Street is the spine of Thames’ central business district - offering ample availability of parking, little traffic congestion, and the convenience for locals to park and do all of their shopping or personal administration requirements from one pivotal point within a few hundred metres of everything they need.

Many of the buildings running along the road, including the Ministry of Social Development administrative offices, are built in character and heritage styles indicative of the first part of the last century – underpinning the architectural charm of Thames.

“It’s elements like these which enable small provincial towns such as Thames to retain their rural character and appeal, and is the main reason the Ministry of Social Development is keen to maintain its profile and presence in the centre of the community,” said Smith.

Various retail business neighbour 646 Pollen Street – including multiple standalone and nationally-branded food and beverage operations, personal grooming and beautician operations, as well as several small healthcare and wellness providers.

Click here for more information on the listing.

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