Rear Character Opportunity on Cuba
191-195, Cuba Street, Te Aro, Wellington
- Proposed Usage
- Development Site
- Floor Area
- 497.00 m²
- Property ID
As Exclusive Agents, CBRE New Zealand is proud to present 191-195 Cuba Street, Te Aro, Wellington for sale.
This is an exceptionally rare opportunity to acquire a significant character building located in the heart of Cuba Street offering an outstanding investment, add-value or owner occupier opportunity.
191-195 Cuba Street comprises a three storey character building with a mix of office and retail tenancies. The net lettable area is approximately 1,570sqm and the building sits on a freehold land parcel of 497sqm (more or less). The prime Ground Floor retail tenancies are 100% occupied with vacancy in the upper level office space and rooftop terrace ripe for refurbishment, re-purposing or owner occupation.
The property is located in one of Wellington’s most sought-after locations of Cuba Street; home to many of Wellington’s top restaurants, bars and creative industries.
CBRE strongly recommends your early consideration of this outstanding investment, owner occupier or add-value opportunity.
Investment highlights include:
• Land area: 497sqm
• Net lettable area: 1,571.26sqm (approx.)
• Net passing income: $263,048pa plus GST (approx.)
• Potential net income: $571,840pa plus GST (approx.)
• Vacancy: 993.3sqm plus 143sqm (approx.) rooftop terrace
• Strengthened to 60% NBS
• High profile corner site
This property is For Sale by Deadline Private Treaty, closing Wednesday 4 September 2019 at 4pm.