The latest research from Wellington Cityscope shows that commercial property sales have decreased in total sales value in the last quarter. For the three months to April 2019, there were 24 sales at a total value of $65.7 million, compared to the 15 sales at a total value of $105.9 million for the previous quarter. For the twelve months to April 2019, there were 91 sales at a total value of $670.3 million, compared to the 65 sales at a total value of $514.7 million for the previous 12 months.

The table below shows sales recorded for the past eight updates of Wellington Cityscope.

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Notable sales in the April 2019 update of Wellington Cityscope include:

  • Unit 121, a ground floor retail unit to Cable Street, Unit 123, a ground floor retail unit to corner of Market Lane and Taranaki Street and Unit 51, commercial space on part of level 3, and all of levels 4 and 5 and eight associated car spaces on level 3 at One Market Lane, an 11-storey mixed-use building completed in early 2015, which were bought for $21 million;
  • Education House at 9 MacDonald Crescent Te Aro
    A 12-storey office building plus basement parking and a penthouse; built in the 1970s, which was bought for $9.3 million and
  • Wild Zebra Backpackers at 58-60 Tory Street, Te Aro
    A six-storey building built in the 1940s, originally an office building, later converted into an apartment building, comprising Unit 1, total area of 785 sqm on the ground and first floor and units 2 to 5 and future development Units A, B and C, floors on levels two, three, four and five with a total of 59 rooms and 225 beds backpacker hotel and 6 penthouse apartments plus air space above, which were bought for $7.5 million.

 

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Properties listed as for sale in the April 2019 update of Wellington Cityscope include:

  • 39-41 Hania Street, Mt Victoria
    A two-storey warehouse/office building, built in the 1960s on a 334 sqm block, which is for sale through Gollins Commercial;
  • Unit 100 at 30 Kent Terrace, Mt Victoria
    A corner retail/showroom on the ground floor at the Alpha Apartments, which is for sale through Bayleys and
  • Featherston Tower at 23 Waring Taylor Street, Wellington Central
    An 11-storey building comprising basement parking for 11 cars, ground floor retail space of 323 sqm, eight levels of office accommodation of 3,363 sqm and three two-level rooftop apartments, which is for sale through Colliers International.
     

Leasing opportunities listed in the April 2019 update of Wellington Cityscope include:

  • Siemens House Partnership at 57-59 Courtenay Place, Te Aro
    An eight-storey building with a total building area of 4,053 sqm, comprising ground floor retail space of 465 sqm, first floor parking with 24 bays and six upper office floors of 598 sqm each, which has office space ranging from 581 to 1,473 sqm available through Bayleys Wellington;
  • No 1 The Terrace at 1 The Terrace, Wellington Central
    An 18-level office building, comprising 15 levels of office space, a foyer and a mezzanine level and 44 car spaces, which has office space of 7,315 sqm available through Bayleys Wellington and
  • Willeston Centre at 22-28 Willeston Street, Wellington Central
    A commercial building with 16 storeys to Victoria Street and 7 storeys to Willeston Street and basement parking for 15 cars, which has office space ranging from 1,239 to 2,362 sqm available through Bayleys.