The Fogel Building was designed by architect E. Alessi and built in 1960’s, it has been in the same family ownership since its original construction. The building is located on Garrett Street, just off Cuba in a location that is changing quickly with new hotels, hospitality and apartment developments.
The building is six stories high and contains a combination of residential and commercial tenancies. There are five residential tenancies that currently bring in approximately $230,000 gross income and the commercial tenancies approximately $146,000 gross income. The ground floor is made up of storage and car parking. The commercial tenancies are located on the lower podium floors including an art gallery, jeweller, and a wine wholesaler.
The structure can be described as a reinforced concrete load bearing wall building. It is made up of a three-story podium and a three-story tower which is offset towards the Garrett Street side. Shear walls are provided on three sides of the tower and podium with a gravity only frame along the Garrett Street side. A central core extends the full height of the tower. Foundations comprise piles to the building perimeter and a raft footing to the central core.
22-24 Garrett Street provides an opportunity for add-value investors, owner occupiers or developers to transform the property taking advantage of the large floor plates, high stud, and great natural light. Property opportunities like this are difficult to find in Te Aro.
For more information please contact:
Sam McIlroy on 021 730 100 or email firstname.lastname@example.org
Ref #: 20704403
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