PARAMOUNT OPPORTUNITY

25, Courtenay Place, Te Aro, Wellington

Price On Application

Proposed Usage
Office
Floor Area
2709.90 m²
Description:
Property ID
1br6d15



Paramount Cinema is located at 25-29 Courtenay Place in Te Aro Wellington. The building is a two storey neo-classical design constructed in 1917, designed by James Bennie.

The building has undergone extensive renovations to its current configuration in 2004/2005 which  comprises ground floor retail including Kaffe Eiss, Kera La Cart Indian Restaurant, Glengarry Wines and TACO Queen. The first floor is leased by Paramount and there are now three cinemas and substantial bar/lounge area which was extended during refurbishment and with balcony area overlooking Courtenay Place. The main cinema seats 432 people and the two smaller cinemas seat 44 and 60 people.

The building is heritage listed as category II and sits within the Wellington City Councils (WCC)  Courtenay Heritage Area. Originally constructed of reinforced concrete and masonry in the late Edwardian Free Classical architectural style. An art deco addition consisting of a stepped parapet with  decorative panels was completed in 1926.

The site has an approved resource consent for a future development of  a serviced hotel to accommodate guests in as-new 44-46 purpose designed. This resource consent is valid for 5 years from the date it was signed (18 June 2015). Full resource consent details available in due diligence.

Located on Courtenay Place, Wellington's "playground" this central location, accessibility and broad appeal will make this property a highly sought after investment.

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Te Aro Area