As Exclusive Agents, CBRE New Zealand is proud to present 16 Mowbray Street, Wellington Central, Wellington for sale by Expressions of Interest.
This asset is part of a portfolio of nine car park investment assets across Melbourne and Regional Victoria, Australia and Wellington, New Zealand.
The property comprises 53 unit titled car parks well located in the heart of the Government Sector and close to several hotels. The Mowbray Street car park building is a six-level reinforced concrete structure completed in the early 1990s, comprising a total of 253 parks. The car parks are modern, well-designed and well-built by Fletcher Development and Construction Limited. They provide efficient turning circles and easy access. This is an outstanding prime CBD location, strategically positioned adjacent to the landmark Ministry of Education building and within a few minutes’ walk to the Parliament, Wellington Railway Station and Lambton Quay. This opportunity represents a fundamentally sound and secure long-term investment proposition.
Investment highlights include:
- 53 unit titled car parks
- Brand new 7-year net lease to an international operator (Care Park)
- Net income $120,000pa (plus GST)
- Low maintenance investment
- CBD location in the heart of the Government Precinct
- Flexible ownership structure allowing for future partial sell down
- Scarce and tightly held asset class
- Total Rateable Value $1,979,500 (Sep 2018)
CBRE strongly recommends your early consideration of this outstanding passive investment opportunity and encourages interested parties to get in touch without delay.
