Hamilton AMI building sells for $3.5m

01:34, Dec 04 2013
 Hamilton’s AMI building
City view: Hamilton’s AMI building has sold for $3.5 million to a local investor.

A prominent four-level building in Hamilton's central city has sold for $3.5 million.

The AMI building on the corner of London and Anglesea streets went under the hammer last week, selling to an unnamed local investor.

The new owner outbid three other parties to win the 1400-square-metre property, which has a capital value of $1.5m according to Hamilton City Council's valuation database.

The fully leased building has recently been refurbished and is at 78 per cent of seismic rating system New Building Standards.

The site has more than 21,000 vehicles pass by every day, and has access to 32 car parks.

The building brings in $293,000 a year in rent.

Tenants include AMI Insurance, which owns the naming rights, Drake Consulting Group, ACE Training, accountants Robertson Fulton and Parent to Parent New Zealand.