A flexible building with favourable zoning in one of the most tightly held commercial precincts in the Wellington region is for sale with vacant possession, which would give owner-occupiers a high-profile base to operate from, or provide investors with a well-located asset with strong rental upside.

The standalone freehold property on 497sqm land at 69 Hutt Road, Pipitea on Thorndon’s fringe, benefits from prime exposure to high volumes of passing traffic and direct links to State Highways 1 and 2.

The property has evolved from an original small warehouse built in the 1920s to a modern and flexible asset, having undergone various additions and refurbishments over time with the last building upgrades carried out in 2020.

It now offers a distinctive street frontage profile and 562sqm of lettable space comprising a 168sqm warehouse/workshop with roller door-accessed loading bay, 99sqm of first floor offices, and 295sqm of ground floor space configured as office, showroom and staff amenities. There is a paved area in front of the building providing some parking capacity, with on-street parking directly outside.

With the current occupierr, signage specialist Wise Studios, relocating, the property has an assessed potential net annual income of $97,545 plus GST. Given the limited availability of stock along this stretch of real estate, agents marketing the property expect good interest from both investors and owner-occupiers looking to cement a presence in the area.

Tenders close Wednesday 2nd July, through Liam Sherlock and Andrew Smith of Bayleys Wellington Commercial.

With the area continuing to attract occupiers seeking a balance of central access, visibility, and functionality, Sherlock says property for sale or lease in Hutt Road always attracts high levels of attention.

“With infrastructural works in the broader area nearing completion, and a cycleway almost at the front door, it’s a strategic position for businesses to base themselves given the locational advantages for staff, clients, and freight movements.

“Surrounding development includes a mix of commercial, retail, and light industrial uses, with nearby amenities such as cafés, gyms, and fuel stations enhancing day-to-day convenience and heightened by being just minutes from the Wellington CBD, the Port, railway station and motorway access points.”

Smith says the building has inherent qualities that position it favourably for occupiers with the modern functional layout able to flex to a wide range of business use from creatives, to trade retail or office.

“It could even work as a live/work opportunity with studio-style accommodation on the upper level something for a new owner to explore, and which the Mixed Use designation supports subject to compliance with relevant planning standards.”

Other businesses in the area include Glengarry Wines, various trade retail outlets, automotive service providers, and Omega rental cars.

Thorndon Quay and Hutt Road is one of Wellington’s busiest bus corridors, carrying around 10,000 passengers each weekday and a bus every 90 seconds in peak periods. It’s also the city’s busiest cycle route and one of its most important commuter routes.