Long-leased Orewa office investment opportunity

A high-profile modern office building housing a respected New Zealand engineering consultancy is up for sale in a growth hotspot on Auckland’s Hibiscus Coast.

The smart, two-storey premises in central Orewa are fully leased as the headquarters for Hutchinson Consulting Engineers Limited. This New Zealand-owned business with origins dating to 1988 provides structural, civil and geotechnical engineering consultancy services across the Auckland region.

The company has supported numerous high-profile projects spanning the likes of roading, coastal and recreational infrastructure, commercial construction and residential subdivisions.

Hutchinson occupies the prominent corner site on Centreway Road on a current lease that runs through to 2035, with a further 10-year right of renewal.

The lease generates a net rental return of $192,000 plus outgoings and GST per annum.

The freehold land and building at 154 Centreway Road, Orewa, Auckland, are being marketed for sale by Graeme Perigo, Alex Perigo and Ben Clare of Bayleys Silverdale.

The property will be sold by deadline private treaty closing on Wednesday 11 March, unless it is sold prior.

The approximately 499-square-metre building is underpinned by some 847 square metres of freehold land, with onsite parking for 13 vehicles.

The building provides a versatile mix of open-plan and partitioned office spaces, meeting rooms, staff room, kitchen, toilet and shower facilities over two levels. The site has around 60 metres of frontage to Centreway and Riverside roads, two major thoroughfares bisecting central Orewa.

Graeme Perigo said the well-appointed premises would appeal to commercial property buyers seeking a quality passive investment.

“At the heart of its bottom-drawer investment appeal is the long lease to a high-calibre tenant. The fact that this respected engineering business is committed long-term, reflects the excellent fit of the premises for their long-term operational requirements,” he said.

Alex Perigo said the central Orewa location was another key selling point.

“This places the site within walking distance of Orewa Beach, cafes, shops and services, while excellent access to State Highway 1 enables easy connections with central Auckland about 35 minutes away. This convenience reinforces the site’s appeal for both tenants and clients,” he said.

Clare said the asset was underpinned by flexible and intensive Business – Mixed Use zoning under Auckland’s unitary plan, which provides for a broad mix of commercial, residential and community activities.

“This zoning allows the coexistence of offices, retail and residential uses while supporting higher-density living and active street environments.

“In Orewa, this underpins both the property’s long-term investment security and its potential for future redevelopment in a rapidly expanding coastal suburb,” Clare said.

Driven by housing intensification and Auckland’s northern expansion, population growth in Orewa has significantly outpaced the national average in recent years.

The suburb’s population exceeded 13,000 in the 2023 census, up 28 percent from the 2018 census, and nearly 53 percent from the 2013 census.