Property for sale after revamp
Prime industrial property sitting on State Highway 1 is up for sale after remaining vacant for more than a year.
The two-storey building on the corner of Grasslands Pl and Kahikatea Dr sits on the main western bypass through Hamilton and sees 27,000 vehicles pass by a day.
The owners, three separate parties who are based in Taranaki, are reluctant to part with the property, but have decided to put it on the market with Bayleys after a year-long struggle to find tenants.
The previous tenants, a seafood outfit, vacated the building in December 2011 and the owners have been unable to attract a party to take over the lease.
"It looks like a good property and it feels like a good property, but it's been hard to find good tenants and especially [to co-ordinate it] from Taranaki," co-owner Steve Waite said.
The owners decided to revamp the property.
Refurbishment of the two-storey building was completed last month, costing a total of $40,000 for repainting, rewiring and the odd cracked tile to be replaced.
"It's pretty much a clean slate for new owners to come in and stamp their mark," Waite said.
The owners are looking to sell the property, which has industrial zoning, at around $550,000.
The property will be sold by auction on Thursday, March 14, unless sold prior.