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2:00PM |
158 Wicksteed Street, Whanganui
Parking | 20 car parks |
Floor area | 4,560sqm |
Land Area | 2,473sqm |
Add value investment | The site has existing income through the three tenants but has ample room for income growth with 539sqm of floor space available for lease. |
Location | The site has flexible access options with frontage off Ridgway Street and rear access to the building off St Hill Street. The site also offers 20 plus private car parks for use by the tenancies. |
NBS | An iconic government built building in the Whanganui region with a current NBS of 71% and a quality fit-out throughout. |
Quality fit-out | The site has seen extensive upgrades and renovations over the years, it has a quality fit-out and is fully compliant making it ideal for professional services. |
Rental income | The rental income makes up a total gross rental of $249,309 pa. Estimated additional income for the vacant space is circa $70,000 pa with options to have multiple tenancies. |
Split risk tenancies | With three existing tenants and room to grow the rental income, this building represents a good split-risk investment with add value potential. |
Tenancy options | The site has 539sqm of large open plan floor spaces within the ground floor, prospective tenants have freedom to enjoy the open plan environment or to create their own space. |
Tenanted investment | Currently three existing tenants in Crombie Lockwood, Ministry of Primary Industries and Community House. |
This landmark piece of architecture, an iconic government-built building represents a solid return on investment with the upside of adding value to the rental income. The site has three existing tenants that have good long-term leases in place including Crombie Lockwood, owned by an internationally recognised company, Ministry of Primary Industries, who handle biosecurity, fisheries, forestery and food safety, and Community House, a local umbrella organisation that provides a base and collaboration of fifteen community organisation. This has been a successful model in Whanganui for over 20 years and is funded by agency grants and the local council. Built in the 1940's for NZ Post, the former government building features unique marble carvings on the frontage and has a NBS of 71%. It has seen significant upgrades overall in recent years including seven kitchens, four disabled toilets, air conditioning units, a type four fire system and ultra-fast fibre. This fully compliant site represents solid opportunities for the astute investor, a committed vendor completes the picture.
Licensed under the REA Act 2008
Mobile: +64 27 428 8144 |
Office: +64 6 345 0429 |
robertb.scott@bayleys.co.nz |
Licensed under the REA Act 2008
Mobile: +64 27 264 4669 |
Office: +64 6 349 2857 |
russell.duggan@bayleys.co.nz |
|
2:00PM |
158 Wicksteed Street, Whanganui
Parking | 20 car parks |
Floor area | 4,560sqm |
Land Area | 2,473sqm |
Add value investment | The site has existing income through the three tenants but has ample room for income growth with 539sqm of floor space available for lease. |
Location | The site has flexible access options with frontage off Ridgway Street and rear access to the building off St Hill Street. The site also offers 20 plus private car parks for use by the tenancies. |
NBS | An iconic government built building in the Whanganui region with a current NBS of 71% and a quality fit-out throughout. |
Quality fit-out | The site has seen extensive upgrades and renovations over the years, it has a quality fit-out and is fully compliant making it ideal for professional services. |
Rental income | The rental income makes up a total gross rental of $249,309 pa. Estimated additional income for the vacant space is circa $70,000 pa with options to have multiple tenancies. |
Split risk tenancies | With three existing tenants and room to grow the rental income, this building represents a good split-risk investment with add value potential. |
Tenancy options | The site has 539sqm of large open plan floor spaces within the ground floor, prospective tenants have freedom to enjoy the open plan environment or to create their own space. |
Tenanted investment | Currently three existing tenants in Crombie Lockwood, Ministry of Primary Industries and Community House. |
60 Ridgway Street, City Centre
Open in mapLicensed under the REA Act 2008
Mobile: +64 27 428 8144 |
Office: +64 6 345 0429 |
robertb.scott@bayleys.co.nz |
Licensed under the REA Act 2008
Mobile: +64 27 264 4669 |
Office: +64 6 349 2857 |
russell.duggan@bayleys.co.nz |