EXCEPTIONAL VALUE-ADD OPPORTUNITY ON QUEEN STREET

280, Queen Street, Auckland City

By Negotiation

Proposed Usage
Office
Floor Area
14690.00 m²
Description:
Property ID
1c3wvsy

FOR SALE BY WAY OF DEADLINE PRIVATE TREATY CLOSING 4.00PM, THURSDAY 8 NOVEMBER 2018 (Unless sold prior)

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 Barfoot & Thompson and Colliers International 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 sole agents to discuss this opportunity further.

Key Features:
• High profile 2,253m² site with dual street frontages to Queen Street and Lorne Street
• 15 Level 14,690m² building with an A+ seismic rating (IEP 133%)
• Add value opportunity to reposition to higher and better uses
• Sought after CBD location with high pedestrian foot traffic close to all amenities
• Net passing income $4,658,044

John Stringer - 021 758 078 j.stringer@barfoot.co.nz
John Urlich - 021 395 396 jurlich@barfoot.co.nz

Jason Seymour - 021 607 999 jason.seymour@colliers.com
Richard Kirke - 021 299 3120 richard.kirke@colliers.com

Enquire about this property

Auckland City Area