As Exclusive Agents, CBRE New Zealand is delighted to present 22 Courtenay Place, Te Aro, Wellington to the market.
This property features an attractive character building which sits on a 322sqm (more or less) freehold land parcel. With its prime corner location fronting Courtenay Place and Blair Street, along with a diversified income stream, it is sure to be a sought-after asset for any investor.
The entire building underwent significant refurbishment and structural upgrades in 2021, achieving a seismic rating of 70% NBS. The total lettable area is approximately 985.54sqm, accommodating both hospitality and office tenants, providing a diversified income stream for the owner. The property currently generates a net income of approximately $329,695 (plus GST) per annum. The development works have resulted in a "near new" character space offering excellent natural light and is 100% occupied.
Located within the 'City Centre Zone' of the Wellington City 2024 District Plan, the property is situated on the northern side towards the eastern end of Courtenay Place, in the heart of Wellington's entertainment precinct.
Investment highlights include:
- Passing net income: $329,695.19 (plus GST) per annum
- Land area: 322sqm (more or less)
- Net lettable area: 985sqm (approx.)
- Recently strengthened to 70% NBS
- Architecturally Refurbished
The property is being offered for sale by Deadline Private Treaty, closing Wednesday 7th May at 4pm (unless sold prior). Given the tightly held nature of property on Courtenay Place, CBRE expect that buyers will view this as an attractive investment option and therefore encourage interested parties to get in touch without delay.
For further information, please contact one of the nominated brokers below.
Please note: Boundary lines are indicative only.
