THE ground-floor shops in the heritage building at 11-13 Courtenay Place have been put on the market by Auckland-owned KBL Courtenay. The three shops are occupied by Majestic Cuisine, AroyThai Cuisine and Bennetts Gift World, which is vacating soon after trading there for 40 years.
Colliers International agent Ty Dallas said the shops could be purchased individually or as a block.
Fellow agent Sam McIlroy said there had been strong inquiries.
"The very low vacancy rate on the golden mile has created considerable demand for space in the area which will ultimately reflect in higher rentals."
The whole building was put up for mortgagee sale this year but Kevin Clark, a director of a previous owner KBL Investments, said the property had since been refinanced.
It is right in the heart of Wellington’s entertainment district and is on the southern side of the street close to Cambridge Tce, opposite Blair St.
Originally built as four shops in 1911, it was redeveloped as a McDonald’s in the early 1980s.
It was structurally upgraded in 1997 and after McDonald’s moved out, it was converted back into three shops and the first floor was rebuilt. Some strengthening work was done in 2004.
Dallas said he was confident the shops would fetch premium prices. They are being sold by private treaty with a deadline of October 28.
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