Available PropertyFiles:

/1. Information Memorandum/
- Willis Street, 237_Information Memorandum.pdf
/2. Seismic Information/
- a. Spencer Holmes DSA September 2023.pdf
- a. Spencer Holmes DSA September 2023_resize.pdf
- b. Silvester Clark Letter 2 July 2021.pdf
- c. Silvester Clark 184 Vicotira Strengthening Scheme 10 April 2019.pdf
- d. Capital Construction Seismic Upgrade 184 Victoria Street Estimate 26 July 2019.pdf
/3. Floorplans/
- 180 VICTORIA STREET - CUMBERLAND HOUSE.PDF
/4. Leases/
- a. VUW DOL 1 June 2021.PDF
- b. VUW Deed of Variation 3 April 2023.pdf
- c. Rental Invoice 1 June 2023.pdf
- d. Rent Review Letter 20 September 2023.pdf
- e. Hangdog ATL 25 May 2023.pdf
- f. Further Agreement 2023.pdf
- g. AVIS DOL 14 April 2023.pdf
- h. Carpark Payment Table.pdf
- i. Ike Carpark Licence.pdf
- j. Vodafone DOL 7 December 2004.pdf
/5. Insurance/
- a. Endorsement Policy.pdf
- b. Public Liability 1 September 2023.pdf
- c. Public Liability 28 February 2023.pdf
- d. Replacement 1 September 2023.pdf
/6. OPEX/
- FY2024 OPEX Budget Summary.pdf
/7. BWOF/
- BWOFC8-form12.22-23 (1).pdf
/8. Asbestos Management Reports/
- a. 237 Willis Street rev 0 JLL AMP.PDF
- b. 17797 - Cumberland House - Management Survey.pdf
- c. 195723 - Cumberland House- Car Park 3 - 20_10_17 Asbestos removal report.pdf
/9. Title/
- Title 3156253-1.pdf
/9a. Concept Design – Rear Tower Extension/
- Appendix A Architectural drawings.pdf
- Cumberland Multi-discipline Report Rev 2.pdf

Property Description

Cumberland House is a substantial fully leased property enjoying two street frontages anchored by a 15 year lease to VUW. Originally an office building the building has been converted to a student accommodation complex over several stages and occupied by VUW for over 10 years reinforcing the continued demand for student accommodation. In addition, there is a substantial basement parking level leased to Avis car rentals. The rear of the property has a smaller low rise parking building with significant development potential given the generous minimum height limit of 27 meters. With a good seismic rating of 70% NBS, a quality anchor tenant in VUW, this property has been and will continue to be a great performer.
• 15 year lease to Victoria University - net income $2,193,284pa + GST
• 227 bed student accommodation complex over 11 levels plus 69 carparks
• Substantial property with two frontages and further add value
• Good seismic rating 70% NBS - 2,606sqm site

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The following information has been supplied to Capital Commercial (2013) Limited (“Bayleys”) to be made available to any prospective interested parties for general information purposes only.
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Contact Grant Young

Capital Commercial 2013 Limited

Licensed REAA 2008

+64 4 499 6022 +64 21 988 613 grant.young@bayleys.co.nz All Listings

Contact Fraser Press

Capital Commercial (2013) Limited, Bayleys,