Owned by the same family for over 45 years, Colliers New Zealand are proud to exclusively present a prime future development site located within 100m of the Sky Tower in the heart of the CBD.
51-63 Victoria Street West is located on the corner of Victoria Street West and Albert Street. The circa 823.13m2, two storey building sits on 534m2 of land across two titles and generates $389.025 net income with potential to significantly increase the rent roll by leasing the circa 412m2 tenancy recently vacated by Mai Thai restaurant.
The property is being sold by the owner concurrently with the sale of the direct neighbouring 67-71 Victoria Street West as either individual offerings or together collectively (making up a total site area of 860m2).
With enormous street frontage spanning circa 32m along Victoria Street and circa 16m along Albert Street, the property delivers a rare opportunity to landbank an unmatchable prime Auckland CBD future development site with great holding income generated from the character building that houses retail and hospitality tenants.
Zoned as Business–City Centre Zone in the Auckland Unitary Plan and located within the “Special Height Area” with a MTFAR of 13:1, the properties provide a buyer with incredible scope for future development.
With the Sky Tower being a drawcard for hundreds of thousands of local and international tourists each year since it’s completion in 1997, this location is a certain pick – get in touch with Tony Allsop or Matt Plowman for further information or to arrange a viewing
Features:
- Net Lettable Area – Circa 823m2
- Site Area – 534m2
- Net Income - $389,025
- Corner Site – Two Street frontages
- Trophy Central City Asset – Iconic freehold building
- Prized CBD Location - Close by Sky City and CRL Aotea Station
- Incredible Development Potential – 13:1 MTFAR
More information: https://www.colliers.co.nz/p-NZL67014793
