The site housing a well-known electrical business that has served commercial and industrial clients for nearly 40 years is up for sale in a Hamilton industrial stronghold.

The freehold property with a refurbished warehouse-and-office building and generous yard sits in a strategic position on Ellis Street in Frankton. It is fully leased to established tenant Lyndon Jones Electrical, generating an annual net rental return of $60,000 plus outgoings and GST.

Lyndon Jones Electrical was founded in 1986 in Taumarunui, before relocating to Hamilton. Specialising in commercial and industrial electrical work, its services have earned it a strong reputation among the business community across Hamilton and nationally.

The business occupies the Ellis Street site on a current lease that runs through to 2026, with a further three-year right of renewal. The lease agreement provides for a market rent review upon lease renewal and, if the lease is renewed, another one in October 2027.

David Cashmore of Bayleys Hamilton said the upcoming sale offered buyers an attractive chance to secure a low-maintenance freehold investment in an area where industrial property is in notoriously tight supply.

“At approximately 720 square metres, the large yard also offers scope for future development, making this not just a secure investment but also a potential value-add opportunity,” Cashmore said.

The property at 172 and 174 Ellis Street, Frankton, Hamilton, is being marketed for sale by Cashmore and colleagues Luke ten Hove and Alex ten Hove of Bayleys Hamilton.

It will go under the hammer at an auction on Thursday 10 April, unless sold prior.

Luke ten Hove said the approximately 440-square-metre building was underpinned by some 1,439 square metres of land across two freehold titles.

“Refurbished in 2016 with a high-quality fitout, the building features a versatile warehouse and modern offices.

“The warehouse is directly accessible from Ellis Street. This ready access plus the generous yard ensure the tenant has the space and ease of movement to go about their business operations efficiently. Onsite parking adds to the convenience for both staff and clients,” he said.

The Ellis Street property sits within the Industrial zone under Hamilton’s district plan, a designation designed to retain the area’s status as a stronghold of industrial activity.

Alex ten Hove said the Frankton location placed the property in the heart of a well-established central city suburb with significant occupier demand.

“The site for sale sits amid a lively hub of trade suppliers and industrial occupiers in fields such as automotive, engineering and waste management. The area is also well served with local amenities, including numerous hospitality outlets around Greenwood Street and the open spaces around Hamilton Lake.

“Just minutes from the city centre, it is handy to key transport routes such as Killarney Road and State Highway 1C. This ensures ease of access to Hamilton’s key business and trade precincts, and the wider ‘Golden Triangle’ between Hamilton, Auckland and Tauranga.

“Together, these advantages make Frankton one of Hamilton’s most desirable industrial pockets. Intense demand means tenanted assets here are increasingly hard to secure, which is sure to spell intense buyer interest in the Ellis Street property,” Alex ten Hove said.