Make a play for strategic Lower Hutt property

A strengthened and refurbished industrial building with a high-quality office fit out is now for sale in Lower Hutt, with the property well-positioned to benefit from major infrastructure upgrades underway in the area.

Located on the southern side of Parliament Street near its intersection with Hutt Road, the property was previously occupied by an automotive business before its 2020 purchase by the founder of independent gaming studio A44 Games. The freehold 884sqm site is zoned General Business 5 which has a generous 22-metre height limit, and permits the likes of light industrial, warehousing and storage, trade sales, car yards, and technical workshops.

The 1,153sqm building has been strengthened to 80 percent NBS, and extensively refurbished, retaining its industrial character through exposed brick, concrete, metal, and timber. The modern office fit out with a combination of portioned and open-plan space, mezzanine and staff amenities provides a high-quality working environment. There are two on-site car parks and further parking at the rear under a periodic lease arrangement, while the existing roller door access allows for a straightforward conversion back to warehouse use if required by a new owner.

The building is now configured as two tenancies. A44 Games has consolidated its operation into the larger 816sqm space, while the remaining 337sqm tenancy is vacant. The owner is looking to release capital through the sale and will take a one-year leaseback upon settlement.

The net holding income of $178,489 from A44 Games provides support for a staged relocation, allowing a new owner-occupier to utilise the vacant area immediately, or providing a buffer for an investor. The property has a projected annual net income of $273,504 if fully leased.

7-9 Parliament Street, Melling, Lower Hutt is being marketed by Ethan Hourigan and Oliver Hourigan, Bayleys Welington Commercial through a tender campaign closing Wednesday 11th March.

Infrastructure upgrade works associated with Te Wai Takamori o Te Awa Kairangi, formerly known as RiverLink, are well underway to future-proof Lower Hutt city. The $1.5 billion project includes flood protection and river restoration work, improvements to public transport links and walking and cycling routes, upgrade to the Melling interchange which links the city to State Highway Two, and a new pedestrian bridge to link the relocated Melling Railway Station.

Ethan Hourigan says the property is well-suited to an owner-occupier seeking to relocate and position themselves ahead of the area’s planned infrastructure improvements.

“Once the works are completed, we’d expect to see value uplift for properties that are positioned to take advantage of the more efficient and resilient Lower Hutt CBD.

“The broader Melling precinct is tightly held and well-established with businesses being a mix of quality showroom, IT manufacturing, office use, and several motor vehicle dealerships along with their associated service providers.

“The subject building has well-configured floor plates suitable for a range of office users, professional services, or corporate occupiers, while the practical roller door access suits businesses requiring convenient loading or storage capability.”

The property is halfway between the Melling and Dowse Interchanges for motorway access north and south, adjacent to Western Hutt station on the Melling train line, and there are regular bus services run from Railway Avenue.

“We encourage previous viewers to revisit the property, as its functionality and fit out have significantly improved since it was last on the market,” says Hourigan.