1 Park Road is a prominent retail and commercial building occupying a high-profile corner in Miramar, one of Wellington’s most vibrant suburbs.
The property has a strong leasing history and is fully leased to four established tenants: Spirit House Thai Restaurant, Mr Bun Bakery & Coffee Shop, Wellington Compounding Pharmacy and Peak Physio. This provides a reliable net income stream of approximately $153,484 + GST per annum, with a net lettable area of 549 m². Tenants benefit from on-site parking and an ATM, supporting steady customer traffic.
The site spans 748 m² and presents future development potential with a current height limit of 22 metres, particularly given the success of recent small to medium-scale residential developments in the area.
1 Park Road offers immediate cashflow and long-term upside in a tightly held, sought-after part of Miramar, making it a rare opportunity for investors seeking a secure, income-producing property.
For more information or to arrange an inspection contact:
Hamish Templeton on 029 127 0018
or hamish.templeton@colliers.com
Alistair Robertson on 021 418 647
or alistair.robertson@colliers.com
*Please note all areas and values are approximates only.
Features:
- High profile corner site
- 100% leased
- Strong tenant mix
- Net passing income $153,484 + GST p.a. (approx.)
- Future development potential
- Tightly held location
- On-site car parking
More information: https://www.colliers.co.nz/p-NZL67037301
