A new office development - fully-leased and occupied by ACC on a high profile Nelson corner site - is to be sold, offering an investment opportunity rarely seen in this thriving provincial centre.

Marketing agents Rohan Hill and Mark Hourigan, Bayleys Wellington and Graeme Vining, Bayleys Nelson, are selling 47 Collingwood Street by deadline private treaty with a close date of 2 December as part of Bayleys latest Total Property portfolio campaign.

A 12-year lease with Accident Compensation Corporation was signed in January this year with one further right to renew the lease for nine years, therefore offering a potential full term through until 2030.

Mr Hill says the lease has inbuilt inflation-proof rent review mechanisms in place with accumulating annually the CPI plus one percent and adjusted three-yearly.

"The lease is a triple net lease whereby the tenant as sole occupier pays all operating expenses - including appropriate management fees, rates and insurances - over and above the $346,320 current annual rental."

The two-level 806sq m building - designed by Architecture Cubed and built by highly-regarded local firm, Robinson Construction - fronts onto the busy intersection of Collingwood, Halifax and Riverside Streets with the main pedestrian access being off Collingwood Street.

Fulfilling sustainable design criteria, the building is constructed from reinforced concrete and structural steel and is fully-insulated meeting the latest Building Code requirements including double glazing, solar control glass and extensive roof insulation. Further, it contains one of the most efficient air-conditioning systems available (VRV) and utilises solar water heating while the tenant's fit-out adopts the latest green building philosophies practiced by Government agencies.

Double automatic doors on the ground floor lead to a lobby area along with toilet and shower facilities and two meeting rooms with passenger lift and stairs to level two. The second level provides office accommodation for ACC staff along with dedicated male and female toilets and two showers. The interior is fully-carpeted with carpet tiles, has an acoustically-rated ceiling and is fitted with the latest in lighting technology and smoke detection.

There are 22 secure in-house car parks and dedicated cycle racks, along with ample curb-side parking.

"This property is what we'd term 'bottom drawer' investment in that it takes care of itself and perceptive investors will recognise the intrinsic value of this offering," says Mr Hill.

"Seldom does the commercial property market get presented with the opportunity to own the outright freehold interest in a brand new trophy investment in one of New Zealand's more affluent and vibrant provincial centres. This sort of property becomes a cornerstone in a seasoned investor's portfolio with its guaranteed crown entity lease, built-in rent growth, strategic location and future usage potential."

Given the nationwide trend for hospitality or retail tenants to occupy ground floor space in commercial developments - and Nelson has followed suit - this property could easily be adapted in the future should occupancy demands change.