As Exclusive Agents, CBRE New Zealand are proud to offer to the market the Stoneham’s Building located at 280 Lambton Quay, Wellington Central.
The Stoneham’s Building is an iconic mixed-use character property centrally located on Lambton Quay in the heart of the Wellington CBD. The property enjoys a prime retail position with the highest pedestrian count in the city. The Stoneham’s Building is a three-storey structure dating back to 1905 but rebuilt with its historic façade retained in 1981/82.
The Ground Floor accommodates The Flight Centre retail tenant. The First Floor, occupied by Concrete, was upgraded and refurbished to a modern bar/restaurant with balconies over Lambton Quay and Cable Car Lane. The Top Floor provides a studio apartment (referred to as the ‘Loft’) and a separate two-bedroom two-bathroom apartment (referred to as the ‘Birdsnest’) which have both been substantially upgraded to provide modern residential accommodation. Both apartments are available to rent through Airbnb and are leased and managed by Ohana Properties Limited. The building offers a net lettable area of some 469sqm.
The property is being offered for sale by Private Treaty.
This is an extremely rare opportunity to acquire a trophy mixed-use character building in the heart of Wellington’s prime retailing precinct. Accordingly, CBRE strongly recommends your early consideration of this outstanding investment opportunity and encourages interested parties to get in touch without delay.
Investment highlights include:
• Prime retail position with the highest pedestrian count in the city
• Dual access from Lambton Quay and the refurbished Cable Car Lane
• Diversified income stream
