Potential income $182,910 pa + GST if fully leased
Ministry of Education / Crown anchored investment
Approx. 138sqm vacant lower level – occupy, live/work or lease
Extensively refurbished and seismically upgraded – 70% NBS
684sqm freehold site with approx. 474sqm building
Established Whangārei professional precinct
6 Vinery Lane presents a distinctive opportunity combining Crown-backed income with a clear pathway to increase the property's rental return.
The Ministry of Education / Crown and Wilton Joubert Limited currently provide $134,240 pa + GST in income. The approximately 138sqm vacant lower level has an estimated additional market rental of $48,670 pa + GST, providing potential net income of approximately $182,910 pa + GST if fully leased.
Alternatively, the vacant lower level provides genuine occupation flexibility. With its own direct street-level access, approximately 130sqm private Balinese-inspired courtyard and two dedicated car parks, a new owner could occupy the space for business or explore its live-work potential while benefiting from the substantial existing income.
Significant investment has been made in repositioning the property. A major seismic strengthening and refurbishment programme completed in 2025 included the rebuild of the upper level, creating modern, high-quality office accommodation and achieving a 70% NBS seismic rating.
The property's split-level design provides independent street access to both levels, allowing the existing tenancies and vacant accommodation to operate independently.
Positioned within Whangārei's established professional precinct, 6 Vinery Lane is conveniently located close to the CBD, professional services and central city amenities.
For investors, the opportunity is to acquire established Crown-anchored income with the potential to add approximately $48,670 pa + GST through leasing the vacant accommodation. For owner-occupiers, the property provides the opportunity to occupy part of the building while benefiting from substantial existing income.
Asking price: $2,550,000 + GST (if any).
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https://www.propertyfiles.co.nz/property/1055217
Inspections are by appointment only. Contact the sole agents to arrange an inspection or for further information.
