Positioned in the heart of Te Aro, Wellington, 25 & 25A Taranaki Street presents an opportunity to secure a substantial dual-title investment combining established income with longer-term development potential. Offered together, the property comprises two adjoining freehold titles with approximately 683 m² of combined land, including 13 on-site car parks to the rear. The property generates approximately $101,579 in net income per annum.
The former Taranaki Street Police Station provides approximately 593 m² of lettable accommodation across basement, ground and first-floor levels. Constructed circa 1914 and subsequently strengthened and refurbished, this distinctive character building is predominantly configured for hospitality, providing an established income-producing component to the investment.
Adding to the investment appeal, 25A Taranaki Street benefits from resource consent for an eleven-storey mixed-use development comprising 82 apartments, café space and car parking.
Just two blocks from Wellington's waterfront and moments from Courtenay Place, the property sits within an established mixed-use precinct surrounded by hospitality, retail, office and residential activity. Excellent public transport connections and straightforward access to arterial routes reinforce the strength of this strategically positioned Te Aro investment.
Please note all areas and values are approximate only.
For more information or to arrange a viewing contact:
Alistair Robertson on 021 418 647 or alistair.robertson@colliers.com
Hamish Templeton on 029 127 0018 or hamish.templeton@colliers.com
Features:
- Strategic position in the heart of Te Aro
- Two adjoining freehold titles
- 683 m² (approx.) combined freehold landholding
- 593 m² (approx.) character commercial building
- Existing hospitality investment with future development potential
- 13 on-site car parks to the rear of the property
- Moments from Courtenay Place and Wellington's waterfront
More information: https://www.colliers.co.nz/p-NZL67043130
