A large-scale, fully leased, investment-grade commercial asset comprising office, retail and car parking income, generating net income of $1,924,424 + GST per annum with a WALT of 3.6 years (as at January 2026) and a 100% NBS seismic rating.
The property provides approximately 5,308sqm of lettable area across four floors of office accommodation, large-format ground floor retail, and 123 secure on-site car parks, delivering strong income diversification and institutional-quality fundamentals.
Over the past decade, the building has been comprehensively refurbished and structurally strengthened, repositioning it as a modern, design-led commercial asset, with 100% NBS (yellow chapter) achieved in 2020–21.
Strategically located on Wakefield Street in the heart of Te Aro, the property sits directly opposite Te Papa and the Tākina Convention and Exhibition Centre, and immediately adjacent to the former Reading Cinema complex, now being redeveloped as The Court, within the established Courtenay Place entertainment and civic precinct.
Key Investment Highlights
- Fully leased office, retail and car parking investment
- Approx. 5,308sqm lettable area plus 123 secure on-site car parks
- 100% NBS seismic rating following extensive strengthening
- Passing net income: $1,924,424 + GST per annum
- WALT: 3.6 years (as at January 2026)
- Modern, design-led building following comprehensive refurbishment
- Prime Te Aro location opposite Tākina and adjacent to The Court redevelopment
For Sale by Deadline:
4:00pm (NZST), Wednesday 4 March 2026 (unless sold prior).
