A grand old heritage building in the heart of Whanganui could soon be sold for little more than many Wellingtonians pay for their homes or apartments.
The ornate two-storey former Central Post Office is on the corner of Victoria and Ridgeway, just two blocks up from the river.
Its 2010 rating value, which could give an indication of what it might sell for, is $560,000.
Bayleys agent Bob Davies said it was owned by Whanganui property investor Torkan May's Stallion Corp and the sale was ordered by mortgagee Cressida Capital.
It was built in the early 1900s and was one of the city's significant heritage buildings. Its interior layout was basically unchanged from its original Post Office configuration.
It was in the old town conservation zone and any changes to the building would require council resource consent.
An initial assessment indicated the double-cavity brick building was just below the minimum third of the new building standard and Davies said Wanganui District Council required a strengthening plan to be prepared by 2030 and for the work to be completed by 2040.
Although it needed some paint and minor maintenance the building was generally sound.
"It's a lovely old building and it really deserves an owner to put some tender loving care into it and get it up to a pristine standard."
The ground floor was leased to the Big Orange Cafe, the Ceramic cafe, restaurant and bar and Hair by Halo and tenants were paying annual rent of $80,000 plus GST.
The first floor was vacant.
The property is being sold by deadline private treaty closing June 21.
- © Fairfax NZ News
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