Better than money in the bank

146 Vivian Street, Te Aro


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Better than money in the bank | 146 Vivian Street, Te Aro | 3253214 |      X Close

Better than money in the bank

Located only a stones throw from Cuba street this standalone 2 level building with parking at its rear has seen many changes over the years, all for the better. Gone are the days when the area was synonymous with the red light district of Wellington, and in are the cafes, bars, street food operators and boutique shops that have revitalised this area of the Cuba street precinct.

The property itself has 3 separate tenancies - On the ground floor fronting Vivian street are 2 retail tenancies, with the balance of the ground floor and whole first floor comprising a 14 bedroom accommodation complex that also has the use of 5 parks at the rear.

As an investment the property offers a spread of risk and ease of management with the tenants all being on net leases. The NBS of 70% is another tick in the box, as is the add value potential courtesy of it having 2 road frontages and a 27 metre height limit.

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• Great spread of risk across commercial and residential uses

• 14-bedroom accommodation complex plus two retail tenancies

• 27m height limit provides future redevelopment options

• Remodeled throughout with 70% NBS

• Fully leased with net annual rental $260,800 + GST

146 Vivian Street, Te Aro

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