VALUE ADD INVESTMENT PROPERTY: MODERN BUILDING
15 Bridge Street Nelson City View map
Listing # 56963 Listed 30 Sep 2016
About this property
This substantial inner city landmark property represents an excellent opportunity for strategic investors to add value.
It comprises a large inner city zoned site of 2473m² with 3 road frontages and 2 substantial buildings.
The main building has an approximate floor area of 2300m² over 2 floors and was built in the mid 1990’s whilst retaining the iconic historic facade. It consists of a variety of office style interior ranging from executive style office suite to open plan areas. The ground floor could convert to large format retail.
The second building houses the press hall and comprises some 540m² floor area of industrial type space.
The property is offered for sale by negotiation subject to a partial lease back to the current tenant, providing significant income to the purchaser while offering potential to increase revenue by fully tenanting the property. The inner city zoning allows for construction to 15 meters which could accommodate a four or five storey inner city apartment development on a portion of the site.
This is an opportunity that should be investigated.
- Prominent CBD building
- Large inner city landholding
- Corner site with 3 street frontages
- Magnificent ornate facade
- 6 year partial lease back option (offering holding income)
- Combination of quality offices and open plan
- 92% seismic rating Main Building
- 75% seismic rating on Press Hall
- Partial development site potential (approx. 1000m²)
- 15 meter height allows 4 or 5 stories
Commercial for Sale Office Building
- 2,473 m2 Land
- 17 Car Spaces
- 2,850 m2 Floor
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