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 July 2019, there were 14 sales at a total value of $39.1 million, compared to the 24 sales at a total value of $65.7 million for the previous quarter. For the twelve months to July 2019, there were 76 sales at a total value of $481.8 million, compared to the 82 sales at a total value of $649.1 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 July 2019 update of Wellington Cityscope include:

  • Terralink International House at 275-283 Cuba Street, Te Aro, a three-storey building with basement parking for 47 cars and a gross building area of 4,653 sqm, completed in 1988, which was bought for close to $10.888 million; 
  • Genesis Energy Building at 93 The Terrace, Wellington Central, of nine-storeys, built originally in the 1980s for National Mutual and comprises of shops to Woodward Street and to The Terrace plus eight levels of commercial office above, with a net lettable area 2,987 sqm, which was bought for $10.5 million and 
  • 40 Cuba Street, Te Aro, a building of six storeys plus basement, with a ground floor retail suite (listed as an individual retail unit) and 10 apartments on upper floors. Built 1920 as the MED Capital Power Building, later Electricity House. The 10 apartments were bought together for $5.99 million. 
     
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Properties listed as for sale in the July 2019 update of Wellington Cityscope include:

  • 176-178 Victoria Street, Te Aro, a three-storey building with a garage/workshop on the ground floor built in the 1930s with additions and alterations completed late 2011 with gross floor area of 540 sqm, currently for sale through Ray White Kilbirnie; 
  • Symes de Silva House at 97-99 Courtenay Place, Te Aro, a six-storey office building comprising ground floor shops, parking for 6 cars and five upper office floors, built in 1989 with a gross floor area 2,930 sqm, which is for sale through Bayleys Wellington and 
  • Farish House at 95-101 Victoria Street, Te Aro, a 2-storey building with four retail shops on the ground floor, built in the 1920s on a 224 sqm block and 103-105 Victoria Street, Te Aro, a 2-storey retail building on a 149 sqm block, for sale as a development site through Bayleys Wellington. 
     

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

  • 15 Willeston Street, Wellington Central, a 13-storey office building completed in 1984 which includes one retail suite to the corner, two small office suites off the foyer, and basement parking for 47 cars accessed via Maning Lane, which has office on levels 2, 3, 10 and 11B available through Colliers International; 
  • 84 Taranaki Street, Te Aro, a building of six levels including basement and floor area of 3,160 sqm, which has office space of 2,210 sqm available through Bayleys Wellington and 
  • Yoobee House at 20 Kent Terrace, Mt Victoria, a four-storey office building, built originally as a two-storey building dating from the 1960s and was extended and refurbished in 1987, which has office of 2,862 sqm across four levels available through Bayleys Wellington.