Colliers has the privilege to be exclusively appointed to market for sale the Sky World Entertainment Centre located in the heart of Auckland CBD.
The nine-level complex is located at 291-297 Queen Street and provides approximately 16,000sq m of total net lettable area on a freehold 3,486sq m site that is zoned Business – City Centre Zone.
The centre is anchored by ASX-listed Event Cinema, which is the premier cinema offering in central Auckland and home to IMAX, New Zealand’s biggest cinema screen.
The property has a passing income of $4,250,000 plus GST per annum (approx), down from a previously contracted rent income of $9 million (approx) outlining the huge potential the property presents.
With the City Rail Link set to be completed in the near future, the property will be in the perfect location to take advantage of Aotea Station only moments away.
The centre has unique access to 928 secure, underground parks via internal access to the Civic car park building. The property is also located adjacent to the Civic Centre, Aotea Square, Aotea Centre and nearby to SkyCity, and the SkyCity Convention Centre.
The complex has exceptional redevelopment potential, with significant money already spent on concept plans to refurbish the existing structure into an entertainment mecca designed by architectural firm Warren and Mahoney and a mixed-use redevelopment concept by Walkers Architects.
This is truly a rare opportunity to create significant income and substantial value by either re-establishing, re-positioning, or re-developing this central CBD icon.
Features:
* $4.058m plus GST (approx.) net passing income
* 3,468sqm - Site Area
* Combined 16,000sqm (approx.) - NLA
* Strategic CBD Location - Next to Aotea Centre, Civic Theatre & the new Aotea Train Station
* Adjacent to Civic Car park – Skyworld benefits from being interconnected with 928 car parks
* Prominent Auckland Landmark - One of the most recognised buildings in Auckland CBD
* Anchored by Event Cinema & IMAX backed by an ASX listed group
* Re-develop or Refurbish - Warren and Mahoney have completed development plans