Rarely do Queen Street office assets come to the market and 203 Queen Street provides buyers the opportunity to invest in Aucklands CBD. The building is situated on the major intersection of Queen and Victoria Streets, enjoys significant prominence and high pedestrian traffic from one of Auckland busiest corners, while the new CRL metro station will benefit the location considerably.
203 Queen Street provides a diversification of income, including the newly opened Mecca fashion accessory brand on the ground floor, CityFitness Gym over three levels and the balance of the building occupied by a variety of office users. The building underwent a major refurbishment program in 2004 and a retail upgrade in 2015, while it is likely a new owner will consider a further partial upgrade in relation to services and public areas. The Mecca fit out is of high quality and enhances the buildings retail presence significantly.
It is difficult to acquire investment property of this type on Queen Street and the opportunity to enhance value should not be overlooked.
203 Queen Street, Auckland CentralOpen in map