Appetite tested for failed eatery spot
‘‘We’re expecting them to appeal to a range of buyers, including individuals looking for a small investment property, right through to buyers of all three properties who might be looking at ways to redevelop the entire site and add value.’’
Colliers agent Tim Bowden said the vacant single-storey corner building, which was constructed in about 1920, could be refurbished.
‘‘This building has great potential for commercial use given its high-profile corner position. It has previously been a restaurant and we believe it is still ideally suited to a hospitality business.’’
Glassescases, which traded as Five Boroughs, was put into voluntary liquidation on January 8, owing more than $440,000, including $32,000 in staff holiday pay.
At the time, Unions Wellington spokesman Ben Peterson said some staff members were given little notice about the closure, leaving them ‘‘quite angry and upset’’.
However, Five Boroughs owners Bryn Thomas and Elie Assaf took out a personal loan to ensure all workers received their holiday pay.
Next door to Five Boroughs, on Roxburgh St, is a two-level building that was built in the 1960s and includes a ground-floor workshop and office space, with a studio and office above.
McIlroy said both spaces were on monthly leases, meaning the property provided a ‘‘good opportunity’’ for an owner-occupier, for either commercial use, residential use, or a combination.
The Majoribanks property, which was built in 1910, is home to Vietnamese restaurant Saigon Taste on the ground floor, with a tenanted three-bedroom apartment above.