Historically, comparable car parks have sold for approximately $60,000 + GST each. Our vendor’s instructions are clear: “Forget that – I want these sold.”
With an asking price of $625,000 + GST, this portfolio is being offered at approximately 38% below the level at which comparable car parks have previously sold for.
A rare opportunity to secure a tightly held portfolio of centrally located car parks in Wellington's CBD.
Positioned within the popular Century City Apartment complex, this offering provides immediate passive income with minimal management requirements.
The majority of parks benefit from secure gated access, enhancing tenant appeal and occupancy stability.
With Wellington experiencing ongoing constraints in parking supply, coupled with increasing demand and council-led initiatives around pricing and time restrictions, the fundamentals underpinning this asset class remain exceptionally strong.
To obtain a copy of all supplementary documents please register your interest at www.propertyfiles.co.nz/property/72torystreet
• 17 individually titled covered car parks offered as one package
• Potential gross income (when fully leased and at market rental) $71,400 + GST per annum
• Located within the sought-after Century City Apartment complex
• 15 parks positioned within a secure gated area
• Low-maintenance investment with strong tenant demand
