LONG LEASES + LAND

107-121 Adelaide Road, Newtown, Wellington

Investment For Sale

For Sale by Deadline Private Treaty closing at 2.00pm Thursday, 29 Aug 2019 (Unless sold prior)
Land Area: 2,480.00 m2.    Floor Area: 3,320.00 m2.    

Description

107-121 Adelaide Road is a rare chance to secure a fully leased building (CCDHB, Blind Foundation, P3 Research) along with the adjoining car park.

The WALT is approx. 9.27 years with market rent reviews. Adelaide Road is a fast transforming part of Wellington and this offering is a chance to obtain a significant land holding.

Braille House comprises a three storey building with a balcony on level 2 and basement car parking and was built circa 1987. Essentially the building comprises two interconnected units providing large floor plates totaling 3,297.14m² (netlettable) which are used for office accommodation. The building sits on the corner of Adelaide Road and Drummond Street, with pedestrian access off Adelaide Road with vehicular access to the basement car parking off Drummond Street.

The adjoining site to the north is a sealed yard used for car parking for the office tenants.

 

Features

  • Strong tenant profile - 9.27 years WALT
  • Future development site
  • Recently strengthened to NBS 67%
  • Office, car parking and future development land
  • High profile Adelaide Road location

Sale Areas

Area Size
Whole Building 3,320 m²
Land Area 2,480 m²

Map

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