Significant Residential Parcel With Upside

42, Webb Street, Te Aro, Wellington

By Negotiation

Proposed Usage
Development Site
Description:
Property ID
1c4z49l

CBRE New Zealand is proud to offer 42 Webb street, Te Aro, Wellington for Sale by Private Treaty.

42 Webb Street comprises a recently earthquake strengthened two-level building constructed in the 1950s, providing ground floor workshop, and first floor residential accommodation which has recently been upgraded and converted to provide a five-bedroom apartment.

The freehold land parcel is 212sqm (more or less) with some 424sqm (approx.) Net Lettable Area (NLA) currently generating a gross income of $110,000 per annum, making this an excellent proposition for an investor looking to secure a property with a diverse income stream in the sought-after Wellington location of Te Aro.

42 Webb Street Investment highlights include:

- One x commercial tenancy
- One x five bedroom apartment
- Land area: 212sqm (more or less)
- Recently strengthened to 50% NBS
- Gross income (commercial) $45,000pa plus GST
- Gross income (residential) $65,000pa

CBRE strongly recommends your early consideration of this mixed-use investment opportunity and encourages interested parties to get in touch without delay. 42 Webb Street are being offered for sale by Private Treaty.

Enquire about this property

Te Aro Area