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The vendors are motivated to meet the market, presenting an incredible opportunity to own one of Wellington's most attractive buildings located on Marion Street. This remarkable property will undoubtedly take pride of place in any portfolio, showcasing its aesthetic appeal and impressive income streams.
This property stands out as one of Wellington's most visually appealing buildings. With its striking design and impeccable architectural features, it captures attention and creates a lasting impression.
Benefit from a range of income streams, providing a balanced spread of risk. The property's revenue is derived from various sources, with 37% coming from two residential apartments, 40% from ground-floor retail, and the remaining 22% from office tenants. This diversification offers a sense of security in uncertain times.
Enjoy a coveted north-facing position in the vibrant "cool" Cuba Street precinct. Situated on the sunny side of the street, the property offers the added convenience of four on-site car parks, ample on-street parking, and a nearby parking building opposite, catering to the needs of tenants and visitors.
The building was assessed by Structural Concepts in 2023 at 50% of the New Building Standard (NBS DSA). Further investigation indicates that relatively simple strengthening could increase the NBS to over 67%, providing an opportunity to enhance the property's resilience and value.
Property Highlights:
A mix of retail, office, and residential spaces
Fully leased with room for future growth
Generates a net income of approximately $200,000pa
Exceptional architectural appeal and street presence
Prime location in the popular Cuba Street precinct
On-site car parks
Potential for strengthening to increase NBS rating
Don't miss the chance to own this particularly attractive investment property that offers a blend of income streams,
Contact us today to explore this remarkable opportunity further.