A Majestic Offering | A Landmark on ...
100, Willis Street, Wellington Central, Wellington
- Proposed Usage
- Development Site
- Floor Area
- 24472.00 m²
- Land Area
- 3617.00 m²
- Property ID
A Majestic Offering | A Landmark on Wellington's Skyline
The Majestic Centre presents a rare opportunity to acquire an iconic prime Wellington CBD office tower; a landmark on the Wellington skyline. CBRE (Agency) Limited (CBRE) are proudly working with Kiwi Property Group Limited (KPG) to present the sale of The Majestic Centre at 100 Willis Street, Wellington.
Investment highlights include:
* Diversified tenancy profile
* Iconic Building in prominent location
* Strong investment fundamentals
* Seismically resilient
* Lease appeal
* 96% occupancy
* 6.2 year WALT (by income)
* Net passing income: $8,374,285 per annum plus GST
As one of Wellingtons most recognisable and tallest office towers, The Majestic Centre offers 21 levels of A-Grade office accommodation for high-quality tenants from the public and private sectors, four podium levels and also includes 12 retail shops and a freestanding two-storey historic building, which incorporates a restaurant and bar trading as the General Practitioner.
The building is close to 100% occupancy and has an average weighted lease term (WALT) of 6.2 years. The office tower of The Majestic Centre has been strengthened to 100% New Building Standard (NBS). The high-quality tenant profile is testament to the importance of this strengthening work, positioning it well for rental growth occurring in Wellingtons prime office rents.
CBRE is offering The Majestic Centre to the market by way of an International Expressions of Interest (EOI) campaign. Prospective purchasers are invited to submit an EOI no later than 4pm New Zealand Standard Time (NZST) Thursday 21 September 2017 and all offers must be provided to CBRE, the exclusive agent.