Nosh building sold
The Ulster St Nosh building has been sold, and will be the face of real estate agency Bayleys.
Realty Services Holdings purchased the building and land, and plans to use it as a base for Bayleys, an associated company.
The site, opposite the Mill St Pak 'n Save, was previously occupied by Nosh Food Market.
Nosh vacated the building, which was designed by Hamilton architectural designer Noel Jessop, in February to focus on the Auckland market.
Bayleys is now located on the corner of Victoria and London streets, and has an ongoing lease arrangement that ends in December 2016.
"Our intention is to lease [the current Bayleys office] and move down to the new property when we are able to," said Richard Graham, Bayleys Commercial manager for the Bay of Plenty, Waikato and Taranaki.
The site has great visibility and accessibility, and the purchase shows Bayleys' commitment to the Hamilton operation, he said.
About 35 to 40 people would work out of the 650-square-metre building, an upgrade in space from 520 sq m at the current site, Graham said.
Bayleys will make alterations to the building to make it suitable for offices and an auction room.
"Obviously with that space, we can design it to exactly what we need," said Graham said.
It would be a while before Bayleys moved in, he said.
Graham said other operations of Bayleys' parent company Success Realty might operate out of the Mill St site.
The building is located at one of Hamilton's busiest intersections, through which about 35,000 cars pass a day.
In January, Nosh chief executive Hayden Syers said the store had not performed as well as other Nosh sites.
This may have more to do with the Hamilton market, than the specific site. Gourmet supermarkets have traditionally not done well here.
Farro Fresh, a gourmet supermarket at The Base, was forced to rebrand into a budget food store called Trader Jacks in 2012. Trader Jacks closed its doors in 2013.