免费服务热线:

新闻中心

Wellington CBD building with capital tenants
发布时间:2017-05-11 09:29

This website requires Javascript to run correctly. Click here for help enabling it

The New Zealand Herald5:32pm Thu 11 May

Network

° 0 / ° 0Loading…

Help & Support

The New Zealand Herald

Bay of Plenty TimesHawke's Bay Today

The Rotorua Daily Post

The Northern AdvocateWanganui Chronicle

Manawatu Guardian

Kapiti NewsHamilton News

The Aucklander

The Northland AgeStratford Press

Herald Rugby

VivaDream Team

Bite

True CommercialNewspixDrivenThe CountryChinese NZ Herald

nzherald.co.nz

submit

NavigationHomeNational

NationalInsights

NZ Herald FocusEducation

CrimeEnvironment

PoliticsWeather

OpinionMaori

EmploymentQuizzes

HealthLocal FocusOpinion

OpinionFinancial

Your ViewsMedia Blogs

CartoonsLiving in NZ

EditorialTravel

PoliticalBusiness

BusinessPersonal Finance

Small BusinessWork Life

Around NZOur Experts

EconomyDeloitte 200

IndustriesToolbox

PropertyTech

TechICT News

InternetScience

ComputersWired

MobileSpace

GadgetsInnovationWorld

WorldSouth America

VideosEurope

ClimateMiddle East

AustraliaAfrica

PacificDisasters

AsiaStrange but True

USAPhotosSport

SportSailing

RugbyGolf

CricketMotorsport

LeagueRacing

FootballMore Sport

NetballLive Scores

BasketballDream TeamEntertainment

EntertainmentMusic

SpyGames

CelebrityCulture

ReviewsSideswipe

VideoPuzzles

TVHoroscope

MoviesLifestyle

LifestyleParenting

Health & WellbeingDesign & Garden

Food & DrinkViva

Fashion & BeautyCanvas

RelationshipsPets & AnimalsTravel

TravelInternational

New ZealandCruises

NZ WalksTips

AustraliaAccommodation

PacificQueensland EscapesRuralMotoring

MotoringDrivenProperty

PropertyResidential Property

Herald HomesTrue CommercialClassifieds

ClassifiedsPublic Notices

True CommercialBusinesses for Sale

Motoring

Sub NavigationBusinessPropertyProperty News Herald Commercial Property Businesses for Sale

Wellington CBD building with capital tenants

By Colin Taylor

5:26 PM Thursday May 11, 2017

SHARE:

Facebook

Twitter

Google+

LinkedIn

Not saved

Email

Print

Commercial Property

The four-level building occupies a large site at 15 Walter St, in central Wellington. Photo / Supplied

The sale of a four-level building on a large freehold landholding in central Wellington is being billed as "representing a significant investment opportunity" on a market where office vacancy rates are low and the demand is high.

"The property has eight high-calibre tenants providing a strong and diversified income," says Sam McIlroy of Colliers International who, with colleague Peter Wilkin, is marketing 15 Walter St for sale by deadline private treaty closing on May 18.

"The seismically-strengthened building was upgraded to 100 per cent of new building standard in 2015, and includes Mediaworks, the Greater Wellington Regional Council and Vero, among its tenants," McIlroy says.

"These factors mean the property will have strong appeal for commercial property investors in Wellington and around the country," he says.

Wilkin says the Wellington CBD office vacancy rate is now at a record low and this is causing the investment market in the sector to heat up.

"Tenant demand is high for the little remaining office space in central Wellington following the November 2016 earthquake. This dynamic is causing rents to rise and is attracting more investors to the office sector."

The 6400sq m building was originally constructed in 1988 and provides three levels of office space, a ground floor showroom, warehouse and 80 car parks. It has a good leasing history and provides strong cash flow with a net income of $1,278,530 per annum, says McIlroy.

"This property has been able to attract and retain good quality tenants, due to its location and high seismic strength rating. Staff working here love the location close to the cafes, restaurants, bars and shops of Cuba St."

Continued below.

Related ContentYour Views: Readers' letters Tokoroa logging company not taking job applications from drug users Cruising from Singapore to Sydney aboard the Azamara Journey

The building's occupiers provide a strong cashflow with investment risk spread across the multiple tenancies, Wilkin says. The property also offers a substantial site of 3359sq m in the central city.

"Given the dynamics of the Wellington office market and the fast-changing nature of the popular Te Aro precinct, this property will be considered a strategic land holding by many buyers with long-term future development potential in mind. Many office buildings in Te Aro have been converted to mixed-use apartment and retail use in recent years and this trend is continuing."

Colliers' survey of the Wellington CBD office market in January 2017 showed that total office space had reduced by nearly 100,000sq m and vacant space had reduced by 46,200sq m following the November 2016 earthquake. "This represents a severe shortage of available space," says McIlroy.

More Property

Home Truths

Housing Data Explained

Business Toolbox

Business Videos

"Vacancy has decreased in the Te Aro office market due to the relocation of local businesses affected by the earthquake, as well as the conversion of several office buildings into residential accommodation. New apartment developments have also helped make Te Aro a fast-changing location to live and work."

Sam McIlroy, Colliers International

- NZ Herald

Read more by Colin Taylor Email Colin Taylor

Email

Print

Get the news delivered straight to your inbox

Receive the day’s news, sport and entertainment in our daily email newsletter

SIGN UP NOW

Loading

Currency

Compare and convert world currencies.

Herald ServicesBook your adDrivenPhotos for saleTrue CommercialDeath NoticesPublic Notices The Northern Advocate

Lawyers asked to state their ethnicity

Whangarei lawyer has no problems stating her ethnicity

Hawke's Bay Today

Son says 'no steps taken to help' before gastro-linked death

She had recently moved into Mary Doyle before she caught campylobactor.

Bay of Plenty Times

Civil defence preparing for heavy rain

Civil defence is urging residents to be prepared for the heavy rain

Driven

Here's where 33 new speed cameras are going up

The $10 million project will see up to 56 digital cameras installed across the country..…

Viva

Raincoats for any winter moment

Keep dry and warm, no matter what you're doing throughout winter

True Commercial

Commercial expansion for Onehunga

Onehunga’s growth is transforming the local commercial property market.

More from usSocial and Platforms

Facebook

Twitter

Google+

Youtube

Instagram

RSS

Email

Mobile

Contact the site

Contact the newsroom - newspaper

Contact the newsroom - digital

Send pics, video and tips

Help & Support

FeedbackAdvertising

Advertise with NZME.

Print advertising

Online

Classified advertisingOther

Photo sales

Subscriber services

Promotions

Sponsorship

About us

Our publicationsSearch

Legal

Privacy Policy

Terms of Use

Competition Terms & Conditions

View on our:

Mobile Site