Thorndon site ripe for residential conversion
The need for intensified low-rise residential accommodation in Wellington is expected to fuel interest from potential developers with an appetite to develop townhouses or convert existing commercial space in the historic inner-city suburb of Thorndon, Wellington.
Located at 3-5 George Street, the two-storey 3,820sq m building was designed in the 1970s for the Ministry of Works and sits on a freehold title of 2,728sq m.
Marketing agent Tim Bowden, of Colliers International in Wellington, says there is potential for it to be completely re-developed or strengthened and re-purposed for use as residential accommodation or commercial space.
“Thorndon has great character and is highly sought-after by families, professionals, and small businesses.
“Property here is very tightly held with few opportunities for larger scale residential redevelopment. While the site lends itself to townhouse development, the opportunity shouldn’t be dismissed for owner occupiers and institutional owners to revamp the existing building and making use of its parking, warehouse and office combination.”
The property has dual frontage and is surrounded by multiple townhouses and residential properties making this a prime location for further residential development.
It is for sale by tender, closing October 9.
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