15-year New Zealand Government WALE Assets

Mayfair and Pastoral Houses, Wellington Central, Wellington

By Negotiation

Proposed Usage
Office
Floor Area
28292.00 m²
Description:
Property ID
1c4scgz

CBRE is pleased to present an opportunity for investors to secure long-term stable cashflow with annual fixed income growth. Located in the heart of Wellington CBD and Government precinct, Pastoral House, 25 The Terrace and Mayfair House, 44-52 The Terrace each have a 15-year lease to the New Zealand Government from completion of a significant refurbishment.

Underpinned by long term leases to the New Zealand Government and located in the sought after CBD Government precinct, seldom do such opportunities come to the market.

The assets are being offered to the market individually or combined and offer the incoming purchaser:
A secure long-term income stream.
Fixed annual rental growth.
Well located properties in the core CBD Government precinct.
Entry in to the strong Wellington market.
Modernised and refurbished Prime-grade buildings.
Combined net passing income of approximately $9.1m on completion.

Acting exclusively on behalf of the vendor, CBRE is offering the assets for sale via an International Expressions of Interest process closing 4pm (NZST) Thursday 28 March 2019.

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Wellington Central Area