The latest research from Wellington Cityscope shows that commercial property sales have increased significantly in total sales value in the last quarter. For the three months to October 2019, there were 21 sales at a total value of $194.2 million, compared to the 14 sales at a total value of $39.1 million for the previous quarter. For the twelve months to October 2019, there were 74 sales at a total value of $404.8 million, compared to the 89 sales at a total value of $870.9 million for the previous 12 months.

The table below shows sales recorded for the past eight updates of Wellington Cityscope.


Notable sales in the October 2019 update of Wellington Cityscope include:

  • 33 Bowen Street, Wellington Central
    An office building of 14 levels including two basement parking floors with 60 car spaces and building area of 13,178 sqm. The property, which was refurbished in late 2015, was sold for $82 million; 
  • 86 Customhouse Quay, Wellington Central
    The former AMP building, a seven-storey office building originally built in 1928 to a design by Edmund Clere was restored to its earlier style at a cost of $9.3 million in 1984 and refurbished in 2010 and 2011, has a typical floor area of 1,200 sqm and building area of 9,000 sqm and was sold for $32 million and 
  • The Exchange Atrium at 7-23 Allen Street and 10-24 Blair Street, Te Aro
    A cluster of two and three-storey former warehouses around a central atrium, with ground floor retail plaza and offices above and underwent seismic strengthening works in early 2019. The buildings have a total lettable area 6,629 sqm across three levels and 39 basement car parks and storage on a 3,263 sqm site, was sold for $20.25 million. 
     


Properties listed as for sale in the October 2019 update of Wellington Cityscope include:

  • A ground floor retail space of 196 sqm at 26 Brandon Street, Wellington Central,  currently for sale by tender through Bayleys; 
  • Unit 1, unit 2 and unit 3 at 2-4 College Street, Te Aro
    Part of two buildings, both two-storey, with workshops on the ground floor and office space above built in the 1960s and renovated and strata subdivided in 1989, are for sale through Bayleys and 
  • 32 Martin Square, Te Aro, and 34 Martin Square, Te Aro
    Formerly the Belvedere Buildings, both a two-storey workshop with offices above, built 1962 and refurbished in 2005, are for sale through Bayleys. 


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

  • Deloitte House, 10 Brandon Street, Wellington Central
    A 16-storey office building with ground floor retail, 38 basement car bays and a two-storey section to Featherston Street, a net lettable area of 12,972 sqm, and currently undergoing seismic strengthening works, has office space ranging from 775 to 11,234 sqm available through Bayleys and retail space ranging from 95 to 227 sqm available through Colliers International; 
  • HP House at 8 Gilmer Terrace, Wellington Central
    A 14-level office building with parking for 33 car spaces, partly under the building and a net lettable area of 9,920 sqm, which has office space of 10,000 sqm with contiguous floors of 760 sqm, available through CBRE and 
  • 84 Taranaki Street, Te Aro
    A building of six levels including basement, for lease as an entire office building of up to 2,210 sqm across 4 levels through Bayleys.