39 Johnston Street is a freehold commercial building located in the heart of Wellington’s CBD, offering approximately 943 m² of net lettable area across five levels. The property provides a rare combination of vacant space ready for occupation or repositioning, together with established holding income from existing tenants, creating flexibility for a wide range of purchaser profiles.
Constructed in the early 1990s, the building includes a ground floor retail or office opportunity, three upper floors of office or studio accommodation, and a penthouse level featuring a generous balcony with views toward Midland Park and the waterfront. Secure lift access services all floors, and recently refurbished levels present a modern standard with LED lighting and updated layouts.
The property is underpinned by holding income of approximately $119,940 plus GST per annum from established tenants, while multiple vacant floors provide immediate upside through leasing, owner occupation, or refurbishment. This balance of income and vacancy positions the asset well for add-value investors and owner occupiers seeking control in a tightly held CBD location.
Situated on Johnston Street, the property benefits from direct connectivity between Lambton Quay and the Wellington waterfront, with excellent access to public transport, parking facilities, and the city’s commercial and hospitality amenities. Surrounding development and recent leasing activity continue to reinforce the long-term appeal of this central precinct.
*Please note all areas and values are approximate only.
For more information or to arrange a viewing contact:
Hamish Templeton on 029 127 0018 or
hamish.templeton@colliers.com
Alistair Robertson on 021 418 647 or
alistair.robertson@colliers.com
Features:
- Highly sought after location
- Three floors ready for occupation
- Holding income $119,940 + GST p.a.
- Vacant penthouse suite with balcony
- Wilson Parking building located across the road
- Close to public transport and waterfront
More information: https://www.colliers.co.nz/p-NZL67039813
