Stable investment in a dominant prime position
A two-storey retail and office commercial block on a high-profile corner site in Lower Hutt’s main retail street has come onto the market for sale.
The property at 245-251 High Street, Lower Hutt is a two-storey retail and office commercial block at the northern end of High Street, fully tenanted, located on a high profile 935sqm freehold corner site.
It is being offered for sale by Deadline Private Treaty through CBRE Wellington, closing Wednesday 30th of June at 4pm.
The premises consist of three separate ground floor retail tenancies and three further office tenancies on the first floor, with a gross floor area of approximately 1400sqm and total net lettable area of approximately 1242sqm over the two floors.
The property is bounded by High Street, a council right- of-way, and a rear service lane. The building has a dominant profile adjacent to Progressive’s Countdown supermarket and reaps the benefits of being located on High Street Lower Hutt’s main retail street which also serves as an arterial route into and out of the city.
The well-maintained improvements to the property include a recently painted exterior, a new Colorsteel roof, and strengthening to a seismic rating of 80 per cent of the National Building Standard, which took place in 2017.
The entire property enjoys substantial natural light from all sides and with easy access to State Highway 2, this prominent position has significant volumes of passing traffic, providing great exposure and advertising opportunities for any occupier.
The site is also within close proximity to Queensgate Mall on Queens Drive, a short distance to the Seaview Industrial Area and only 20 mins from Wellington CBD.
Gary Hansen, negotiator in commercial sales and leasing at CBRE Wellington said, ‘‘Lower Hutt has developed into, and continues to be, one of Wellington’s preferred retail, residential and cafe´ destinations and that is why 245-251 High Street offers discerning
The entire property enjoys substantial natural light from all sides and easy access to State Highway 2. Significant volumes of passing traffic, providing great exposure and advertising opportunities for any occupier.
investors exactly what they are seeking in a stable commercial investment, offering a secure income stream for any investor looking to strengthen their portfolio.’’