Orbit House building for sale
The first floor of a central Wellington office building ’Orbit House’ is up for sale.
The Dixon St building is one of a few in the city with a 65 per cent new building standard (NBS) rating, Paul Hastings principal Paul Hastings says.
The 449 square metre space includes to car parks. Its layout includes three separate office areas, with access to front and rear balconies.
‘‘Those balconies are an unusual and attractive feature of the first floor - very few modern buildings today have such a feature, to the point where balconies are a rarity,’’ Hastings said.
The three office areas are selfcontained spaces. The internal access car parks could be sold separately, or together with the first floor, he said.
‘‘So many office areas in Wellington rely on separate carparks out-of-building, or have no carparks attached, or available to them.’’
There was no requirement to further strengthen the building as the building was up to standard and was not considered an earthquake risk or earthquake prone, Hastings said.
‘‘There is therefore no current or foreseeable need for capital injection by the unit title owners, or any strengthening required of the building.
‘‘The strength of the building is such that a prominent and wellregarded Wellington engineering partnership has its offices in the building - that being an endorsement in itself.’’
The office space provided an opportunity for an owner-occupier to use any, or all, of the office areas for their own use, he said.
However they could also lease the space to gain further income from the property, he said.
The space had a rateable value (RV) of $870,000, including the two car parks at $44,000 each.
"Those balconies are an unusual and attractive feature of the first floor." Paul Hastings principal Paul Hastings