Overview

Office for sale

CBD Add-value Opportunity | Significant Rental Upside

As exclusive agents, CBRE New Zealand is proud to offer 49 Boulcott Street, Wellington Central, Wellington for sale. 49 Boulcott Street was completed in 1989 to a high standard of design by well-regarded architects Warren and Mahoney. The building comprises seventeen levels providing a typical floor plate of circa 351sqm. The building has a seismic rating of 72% New Building Standard (NBS), a total Net Lettable Area (NLA) of 5,154sqm and offers a total of 43 on-site car parks (plus nine car parks located on the adjoining property). The building has a central core, making it relatively easy to split the floors, with most enjoying excellent natural light.  The property is situated on the western fringe of the inner Central Business District of Wellington City on the western side of Boulcott Street, next to Athol Crescent. This offering presents an outstanding opportunity to acquire a well-located commercial building providing a diversified income stream with the opportunity to add significant value through refurbishment and re-leasing, or re-purposing to residential/short stay accommodation. Investment highlights include: * 72% NBS * 43 car parks * Net passing income: $653,259 (plus GST) per annum * Potential net income: $1,204,469 (plus GST) per annum * NLA: 5,154sqm * Land area: 1,175sqm * Additional development potential * Typical floor plate: 351sqm For Sale by Deadline Private Treaty closing Wednesday 18 September 2019 at 4pm. CBRE strongly recommends your early consideration of this outstanding add-value investment or re-purposing opportunity and encourages interested parties to get in touch without delay.
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Sizes and Measurements

Total Size

5,154

Pricing Information

For sale

Deadline Sale

Specification

  • CBD Add-value Opportunity | Significant Rental Upside

Photos

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