Iconic Central City Hotel/Apartments
JLL is pleased to exclusively bring to the market the property located at 70 Tory Street, Te Aro, Wellington. The property is for Sale by Expressions of Interest closing 4:00pm…
Thursday the 13th of October.
This property encompasses 4,760sqm of floor area, sitting on a parent site of 700sqm. This opportunity offers vacant possession of the hotel/apartment units, which comprises 89 fully furnished units. Varying in size with 21 studios, 54 one-bedroom units, 10 two-bedroom units, 2 two-bedroom penthouse units, and 2 three-bedroom penthouses, one of which includes a pool. The ground floor of this property is comprised of three commercial retail units, being 77sqm, 93sqm and 284sqm. In addition to this there are 101 unit titled covered carparks.
Located in central Wellington, this property is in close proximity to all facets of the capital city with the Waterfront, Te Papa, supermarkets and soon to be completed Takina Convention Centre all within easy walking distance. Whilst the Wellington International Airport is a short 11-minute drive away.
With endless potential as a commercial or residential investment, this asset could become a cornerstone property for many. Residential developers, hotel service providers, build-to-rent scheme operators or otherwise astute investors could utilise this property to its fullest potential.
This will prove to be highly sought after property, and all interested parties should contact the sole agent at their earliest convenience.
Stathis Moutos (021 433 575) & Jim Wana (021 623 633)
10 Nov 2022