NZ Post building sale attracting attention

A change of direction for a private commercial property investor means a large modern building redeveloped for NZ Post in Hamilton's Anglesea St is on the market.

The 1300-square metre, low-maintenance building, which Colliers International marketing agent Alan Pracy said was redeveloped "on the bones" of the former Jim Wright Nissan property, is for sale by deadline private treaty with a price indication nudging $4 million.

The property has as tenants NZ Post, the Registrar of Electoral Offices and Vetro Mediterranean Foods. It has 28 car parks. Total land area is 2232sqm.

NZ Post's lease is until May 2017, and brings in net rental of $193,255. The registry and Vetro have six-year leases from May 1 2007.

The registry offers net annual rental income of $33,232 and Vetro $70,210.

Pracy said the sale was attracting local and national interest.