Exceptional Value-Add Opportunity on Queen Street
280, Queen Street, Auckland City
Price On Application
- Proposed Usage
- Floor Area
- 14690.00 m²
- Land Area
- 2253.00 m²
- Property ID
Enquire about this property
Rarely are landmark CBD office and retail buildings of such scale and with so much potential to add value offered for sale on New Zealand’s premier street.
Joint agents Colliers International and Barfoot & Thompson are pleased to present this outstanding freehold investment opportunity for sale by Deadline Private Treaty closing 4:00pm, Thursday 8 November 2018.
This high profile property occupies a large 2,253m² site with dual street frontages to both Queen Street and Lorne Street and provides a truly unique opportunity to reposition the building to a higher and better use.
The 15 level building has diversified income from national chain retailers on the lower three levels and commercial offices and a penthouse apartment on the upper 12 levels. The property is currently generating a net passing income of $4,658,044 per annum.
Positioned in the heart of the CBD, this property enjoys some of the highest volumes of pedestrian foot traffic in Queen Street and is set to benefit substantially from the City Rail Link with nearby Aotea Station predicted to be the busiest station in New Zealand on completion.
The comparatively short lease profile provides purchasers with the opportunity to refurbish or redevelop the property to add significant value to the investment. Refurbished office space, residential and hotel uses are all in demand in what is a constrained Auckland property market.
We welcome enquiry and encourage your contact with the joint sole agents to discuss this opportunity further.