Property Description

• Four-level office building plus auditorium and vacant development site
• Potential net income $625,000pa + GST (approximately) per annum
• Development opportunity: adjoining 800sqm dual-access site

This exceptional property is ideally located in the vibrant heart of Te Aro, Wellington’s creative and commercial hub. It features a fully refurbished, four-level office building with an adjoining auditorium that houses Meow Nui, Wellington’s latest venue plus a development site.

The building has a 70% NBS rating and offers a mix of income and flexibility. The ground floor includes secure parking, the first floor is fully leased to Meow Nui, with the second and third floors vacant, providing an excellent opportunity for an owner occupier or new tenant.

The property generates an existing strong rental income, with a potential net income of approximately $625,000pa + GST. Long-term lease agreement offer security and stability for investors.

Adding to its appeal is an adjoining 800sqm dual-access site, offering significant future development potential. With a 42.5m height limit, the site is suitable for a substantial mixed-use or residential project, or it could be utilised for additional car parking. This property represents a rare opportunity to acquire a secure, income-producing asset with considerable upside potential.