Stunning space plus income for owner-occupier
A multi-level, architecturally designed office building in central Auckland’s Victoria Quarter will hold appeal for owner-occupiers or investors looking to acquire a high-quality asset.
109 Wellesley St West has approximately 423sq m of total net lettable area on a 244sq m freehold site zoned Business–City Centre under the Auckland Unitary Plan.
Colliers brokers Matt Plowman and Tony Allsop have been appointed to market the property for sale with an asking price of $3.75 million.
The property includes two levels of office accommodation and a basement carpark that has four secure spaces, but the possibility exists for cars to be stacked.
The top floor is vacant and serves as an attractive prospect for an owner-occupier to secure their own premises and generate income from the lower floor.
Level 1 is occupied by recruitment firm HainesAttract which has a three-year lease that runs until December 2024 with one further right of renewal for three years. The lease provides $88,103 plus GST in net annual rental income.
Constructed in 2009 with low carbon footprint materials, this architectural masterpiece offers plenty of natural light and a lively work environment for occupants. There are modern end-of-trip facilities, bicycle racks and a rainwater recycling system. The building has a 100 per cent NBS rating.
Plowman, investment sales broker at Colliers, says the location serves as a major selling point with many amenities nearby.
“Located across from the City Works Depot, there is a compelling list of food and beverage providers in walking distance, while notable landmarks such as the Sky Tower are on the doorstep,” Plowman says. “Motorway access is only moments away while there’s public transport options on offer through bus routes or trains from the Britomart Transport Centre.
“The opening of the City Rail Link in 2026 will also add to the connectivity around central Auckland and Te Waihorotiu Station (Aotea) is only 420m away.”
Allsop, director of investment sales at Colliers, says the highly functional office space will provide businesses with a desirable workplace.
“In a post-Covid environment, offering attractive workplaces for employees remains a top priority for many firms and this building has an elegant industrial feel throughout, with its combination of open-plan office space and glass-partitioned meeting rooms,” Allsop says. “Owner-occupiers will recognise the value in operating from a central Auckland location while enjoying income from the existing tenancy in Level 1. Alternatively, investors have the opportunity to add this to their portfolio and secure a new occupant for Level 2.”