The Courtenay Place National Bank/ANZ is up for tender.
The unit-titled freehold ground floor property on the Tory St corner would be an excellent opportunity for a strategic investor or future owner occupier, said Bayleys Wellington agent Grant Young.
The building was returning a net income of approximately $302,000pa plus gst and the National Bank had a three-year lease until October 2014.
The 560sqm property, which includes three car parks, was being sold by a Wellington family trust.
While the current configuration suited the ANZ National Bank retail operation, the property could easily be split into multiple tenancies because it had over 30m of frontage on Courtenay Place and Tory St.
The classical late-Victorian masonry building was originally home to the Wellington Gas Company.
The site is listed on the Wellington City Council heritage building register.
It was built in the early-1900s and was upgraded and strengthened in 1993, when it was owned by the now bankrupted Terry Serepisos.
It had been fitted out by the bank and had a high ceiling banking chamber, offices and amenities. “Properties like this rarely come to the market in the heart of the popular entertainment and hospitality Courtenay Place precinct.
“Having a bank as a sitting tenant further increases the appeal for investors,” said Young.
Tenders close on Wednesday.
- © Fairfax NZ News
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