136 The Terrace, Central, Wellington Central, Wellington

Stand Alone Gem

Designed by well-known architect Edmund Anscombe in 1938 as residential apartments, this gem of a property was converted top commercial use in the late 1960s/early 1970s.\n\nCurrently there are 2 vacant floors (penthouse and level 1) with the balance occupied by a mix of tenants including a dental surgeon, lawyers and surveyors. The property is assessed as having an earthquake capacity of 100% NBS and also benefits from having 4 off-street car parks.\n\nThe vacant areas provide options for a part owner occupier to relocate their business or for a proactive purchaser to lease up and add value. Alternatively the penthouse floor with its 2 outside decks, inner city views and sunny outlook may lend itself to conversion back to residential providing a purchaser the freedom of owning their own building and not having to deal with a body corporate. \n\nCurrently returning an annual gross rental of $157,500 + GST, the property has genuine rental upside and provides a rare opportunity for purchasers to secure an affordable standalone building in the CBD.