Sought After Trophy Asset

318, Lambton Quay, Wellington Central, Wellington

By Negotiation

Proposed Usage
Development Site
Floor Area
9698.00 m²
Land Area
1375.00 m²
Property ID

CBRE New Zealand is proud to present Westpac house, 318 Lambton Quay for sale.

This is an outstanding opportunity for investors to acquire ownership of a trophy Wellington building, located on Wellington's retail Golden Mile Lambton Quay, and within the Capitals prime CBD precinct. The combination of investment grade cash flows and a future proofed location on the 'Golden Mile' ensures this property will remain a sought after trophy asset for years to come.

Westpac House is 100% leased and is proud to be the home of two major tenants. The first is Westpac Banking Corporation, which is one of the four major banking organisations in Australia and one of the largest banking organisations in New Zealand. Westpac New Zealand have two leases, expiring 2024 and 2027, both with rights of renewal. Westpac House is also home to Statistics New Zealand, the national office entrusted by the Government and the people of New Zealand to collect and deliver robust, independent statistics.

This is an outstanding opportunity to acquire ownership of a trophy Wellington building and given the quality of this offering, CBRE strongly recommends your early consideration and encourages motivated purchasers to get in touch without delay.

Investment Highlights:
* Major tenants: Westpac and Statistics New Zealand with predominately net leases with reviews indexed/CPI
* High profile CBD location, fronting Wellingtons retail Golden Mile
* 100% NBS seismic rating
* Net passing income $4.8m (approx.) plus GST per annum
* NLA 9,698sqm/23 car parks
* 100% fully leased

For Sale by Deadline Private Treaty, closing Wednesday 31st May 2017 (unless sold prior).

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Wellington Central Area