Capital’s Cherry Orchard ripe for picking

10:02 AM Friday November 20, 2015 Colin Taylor

Cherry Orchard Antiques has operated from Wellington’s Tinakori Road village since 1999.

The retiring owners of a popular Thorndon antique shop in Wellington have placed the Tinakori Road retail building on the market for sale by auction.

Cherry Orchard Antiques has operated from 342ATinakori Road premises since 1999 following the relocation of the business from the family home of the owners in Napier.

Fraser Press and Mark Walker of Bayleys Wellington are marketing the commercial property, which will be sold with vacant possession by auction on December 3.

Press says the store’s location in the Tinakori Road village, close to the Botanic Gardens, has been conducive to profiling the business which specialises in French and English antiques which are sourced and restored for an eager Wellington market.

The stratum in freehold ground floor retail unit is set back from the road and adjacent to the neighbourhood pub Sprig and Fern Tavern.

The 97.2 sq m unit is part of a Mixed Use building with a separately accessed residence above that is not for sale. A bricked pathway, courtyard and mature trees add personality to the property.

Press says the retail premises have been independently assessed as having a potential net rental of $33,397 plus GST per annum.

“This property would be ideally suited to office or destination retail use and because they are retiring, the owners say the Cherry Orchard Antiques business brand, supplier and customer data base are also for sale.”

He says as the retail unit has been occupied by “house proud” owners for the past 15 years and has been well looked after and maintained.

“The building was constructed in the 1990s and is a good example of modern retail premises that work well in the Tinakori Road character context.

“Echoing the traditional architecture of Thorndon, the ground floor space has substantial character-styled doors and large, almost floor to ceiling, retail-front windows.

“The unit has the potential to be split into two separate units so a new owner could feasibly occupy all – or just some – of the space.”

Press says a property investor could take heart from the fact that Thorndon, and Tinakori Road in particular, is highly sought-after by boutique business tenants.

“Thorndon has direct links to Wellington’s early settler history and it has tenaciously survived the growth of the city and motorway development while retaining a certain quaintness,” he says.

“With Katherine Mansfield’s former home and the prime minister’s official residence Premier House within the neighbourhood, Thorndon has strong underlying credentials which endear it to business operators.”