Positioned on a prime 718 sqm freehold corner site in the core of Wellington's CBD, 108 The Terrace represents a strong value-add opportunity with sound property fundamentals.
This reinforced concrete building spans approximately 4,327sqm over 10 levels, features 20 secure inner-city carparks, and boasts an impressive seismic rating of 75% NBS (2019).
Currently generating a gross holding income of circa $824,000 with a 40% vacancy rate, the property offers immediate upside for proactive investors to achieve a projected net office income exceeding $600,000 through cosmetic refurbishment and lease-up.
Furthermore, the building's efficient central-core layout and abundance of natural light on all sides unlock brilliant alternative development pathways, making it a perfect canvas for a seamless conversion into apartments, student accommodation, or a boutique hotel.
To obtain copies of all supplementary documents please register your details at www.propertyfiles.co.nz/property/108theterrace
• 10 level office asset on corner site
• Easy rental upside through vacancy lease up
• Potential net rental over $600,000pa + GST
