A character building for sale with a commanding ground-floor retail showroom and ‘New York-style’ loft office presents an exciting opening for new occupiers, land bankers and add value investors/developers in Auckland’s CBD.
Positioned next to the Empire Hotel, near the busy intersection of Victoria and Nelson streets, the three-level property is being offered for sale with mostly vacant possession.
Bayleys salesperson Jill Downie said the approximately 879-square-metre building offered unique opportunities for add-value investors and retail/hospitality and commercial businesses seeking a presence in the city centre.
“With major redevelopment potential thanks to its City Centre zoning, the freehold landholding of nearly 400 square metres will also hold considerable appeal for developers and land bankers with an eye on the future,” Downie said.
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The building has an unmissable street presence with a wide frontage maximising exposure to pedestrians and passing traffic near one of the city centre’s busiest intersections.
“With original timber floors, a high stud and large windows allowing an abundance of natural light, this character building will suit a variety of businesses.
“The vacant ground-floor showroom features large windows offering great exposure for a retail or hospitality trader on busy Victoria Street West. There is also dock-way access and some storage.
“Upstairs, the high-stud loft office is spacious and airy, with a unique New York-style vibe that makes it ideal for occupiers seeking a workspace that combines comfort and creative inspiration,” said Downie.
Another small office and storage area of approximately 100 square metres is occupied, returning a net rent of $17,563 plus GST per annum.
A large rooftop digital billboard, visible across the busy intersection, generates further annual income of $45,590 plus GST.
On the market for the first time in over 35 years, the freehold property at 139-143 Victoria Street West is being offered for sale through Downie, of Bayleys Auckland Central.
It will be sold by way of a tender closing on Tuesday 24 September, unless sold prior.
The site’s Business – City Centre zoning under Auckland’s unitary plan permits a wide range of commercial and residential activities and enables the most intensive development in terms of height and floor area.
“Located on the western side of Auckland’s CBD, the site for sale sits within a precinct that’s seeing unprecedented growth as public and private sector investment brings major infrastructure and amenity improvements.
“This is a strategic, central downtown position near Queen Street, the Viaduct, Britomart and motorways.
“The New Zealand International Convention Centre and new five-star hotel currently under construction are a short walk away.
“Completion of the City Rail Link will bring a new dimension to this area and a step-change in accessibility across the city,” Downie said.
- Supplied by Bayleys
