Reading Courtenay Central & Associated Landholdings_Property for Sale

80 Courtenay Place, Te Aro, Wellington, 6011, NZ

Reading Courtenay Central & Associated Landholdings

Asset Description

JLL is delighted to bring to market a once-in-a-lifetime opportunity to secure a property that offers control of approximately 1.5 hectares of flat, freehold land, centrally located in New Zealand’s Capital City, Wellington.

The property consists of several adjacent sites acquired by Reading over a period of years. Offered together, they provide one of the last contiguous, privately owned development properties in central Wellington. Development opportunities are extensive, with strong demand in the heart of Wellington City for premium residential developments, retail spaces, restaurants, cafes, hospitality, hotels, and entertainment venues. Just two blocks from the Wellington Waterfront, this unique development site is strategically situated directly across from the newly constructed Tākina, Wellington’s Convention and Exhibition Centre, which attracts both international and national delegates. Other prominent city landmarks nearby, include the Museum of New Zealand, Te Papa Tongarewa, which attracts over 1.5 million visitors annually, and the historic St James Theatre

Under the Wellington City Council Planning Scheme, the City Centre Zone permits a wide range of uses, including, but not limited to, accommodation, residential and commercial activities. The National Government have recently announced (yet to be legislated) the updated New Zealand housing policy in favour of new residential developments, they will look to remove the minimum floor area which is 40 sqm. They will also look to remove the requirement to include a balcony, these positive changes provide more flexibility for future residential developments.

Addresses:

80 Courtenay Place, Te Aro, Wellington
24 Tory Street, Te Aro, Wellington
200 Wakefield Street, Te Aro, Wellington
27 Taranaki Street, Te Aro, Wellington
37A Taranaki Street, Te Aro, Wellington

The Reading Courtenay Central & associated landholdings are for sale via International Expressions of Interest, closing 4.00pm, Thursday 15th August 2024 (NZST).

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Attributes

Land area gross

14,965 m²

Building area net

10,838 m²

Year built

2002

Zoning

City Centre Zone (42.5m height limit)

Media

Investment Highlights

Offering ownership of approximately 1.5 hectares (combined) of prime freehold land.
Substantial development potential with strong end-use demand.
High connectivity – site access from all four surrounding streets.
Premium location with development opportunities to provide harbour views.
One of the last continuous, privately owned, large development sites.
Offered to the market with vacant possession (subject to signage lease 200 Wakefield Street)