- For Sale
For SalePrivate Treaty
Colliers International have been exclusively appointed to market for sale Public Trust Tower, 22-28 Willeston Street, Wellington. The property is being sold by way of Private Treaty.
The Public Trust Tower is a 16-storey commercial building which is 85% NBS (DSA dated May 2021). Comprising 14 levels of office accommodation, eight ground floor retail shops and a large basement with 12 secure car parks and a further outdoor space. Levels 1-6 are large podium floors with net lettable areas of circa 1,000-1,200m² each. Levels 7-14 are smaller tower floors with excellent views across the harbour and back towards Lambton Quay. They are circa 380-450m² each and can be split easily into smaller suites.
The building was originally constructed in circa 1982 for the owner occupier Colonial Mutual Life. It was converted into unit title office floors in 2004 by The Wellington Company and sold off to investors and owner occupiers.
In 2018 CapitalGroup purchased all of the titles and condensed them into single ownership. With one owner, the building has flourished with successful leasing in Level 14 (Digital Nomad), Level 3 (Ministry of Foreign Affairs and Trade), Levels 2 and 8 (Public Trust), Retail Shop 4 (Dilmah Tea), basement gym (Snap Fitness). The building foyer has recently undergone a full refurbishment and facilities management has improved significantly.
There are three street frontages which benefits multiple retail tenants. The corner of Customhouse Quay is directly opposite Wellington's golden mile and the retail shops along Willeston Street and Victoria Street benefit have high pedestrian counts and excellent profile.
Offers are to be delivered to the Colliers International Wellington email Wellington.Deals@collierswgtn.co.nz
Please contact one of the nominated brokers to arrange an inspection.
Ref #: 217330