Property Description

A large-scale, fully leased commercial investment comprising office, retail and car parking income, generating a passing net income of $1,924,424 + GST per annum with a WALT of 3.6 years (as at January 2026) and a 100% NBS seismic rating.

The property provides approximately 5,308sqm of lettable area across four floors of office accommodation, large-format ground floor retail and 123 secure on-site car parks, delivering strong diversification and investment-grade fundamentals.

Strategically located in the heart of Te Aro with prominent frontage to Wakefield Street, a major arterial route, the property sits directly opposite Te Papa and the Takina Convention and Exhibition Centre, and immediately adjacent to the former Reading Cinema complex, now being redeveloped as The Court, within the established Courtenay Place entertainment and civic precinct.

Over the past decade, the asset has been comprehensively refurbished and structurally strengthened, repositioning it as a modern, design-led commercial building with limited near to medium-term capital expenditure requirements.

Key Investment Highlights

• Fully leased office, retail and car parking investment
• Approx. 5,308sqm lettable area plus 123 secure on-site car parks
• Prime Te Aro location with frontage to Wakefield Street, a major arterial road
• 100% NBS seismic rating following extensive strengthening
• Passing net income: $1,924,424 + GST per annum
• WALT: 3.6 years (as at January 2026)
• Modern, design-led building with limited near to medium-term capital expenditure
• Opposite Takina and adjacent to The Court redevelopment

For Sale by Deadline:
4:00pm (NZST), Wednesday 4 March 2026 (unless sold prior).