This much coveted property is offered to the market for the first time in over 30 years. Currently leased to an established tenant with development options from October 2026.
The existing buildings are set up for large format retailing however the real value here is the land. This 973sqm virtually level site has three street frontages and a height allowance of 28.5m. The site is ideal for medium term redevelopment capitalising on the sunny aspect, easy access, great natural light and importantly a sought after Te Aro location on Kent Terrace.
As an investment proposition the property has strong credentials having an established tenant on a dynamic multi access site with excellent onsite parking right in the heart of Wellington's vehicle retailing district.
This is an outstanding site that should appeal to all developers and also investors that appreciate location and quality.
To obtain copies of all supplementary documents please register your details at www.propertyfiles.co.nz/property/26kentterrace
• Outstanding development site - 973sqm in a tightly held location
• Three street frontages with huge profile to Kent Terrace
• Current net rental $176,280.75pa + GST - Market review due 1st October 2024
