The property at 252 Oriental Parade. Photo / Supplied
The property at 252 Oriental Parade. Photo / Supplied
A building in Oriental Parade, which is home to one of Wellington's favourite ice-cream stores, along with an upstairs apartment and an adjacent two-flat property, is for sale after decades of ownership by the same family.
Two properties are involved in the sale – 252 Oriental Parade and 1 Baring Street – with the combined offering to be sold by tender, closing at 4pm on Wednesday September 19.
The property at 252 Oriental Parade has been owned by the Newport family since 1937 with three generations having been part of its history. The two-level property at 1 Baring St to the rear, was purchased by the family in 1993 as a rental investment.
The well-known building on The Parade, with the Oriental Bay Store at street level, is today dwarfed by apartment complexes on either side and is located across the road from the band rotunda.
Agents James Higgie and Mark Hourigan of Bayleys Wellington say given the prime location, the properties – which have a combined rateable value of $3,260,000 – are more likely to appeal to a developer. However, the offering could also resonate with an individual buyer seeking to build a standalone residence.
"A sentimental purchaser may well see value in using the site for their own use, however, with Oriental Bay being one of Wellington's premium addresses, the 337sq m Inner Residential-zoned site will likely strike a chord with developers looking to maximise its full potential," says Higgie.
"There's a 28-metre height limit and with some holding income in place from the tenancies, a developer would have a buffer while pursuing plans and options.
Home to one of Wellington's favourite ice-cream stores. Photo / Supplied
"They're not making any more of this land. The fact that this site has been coveted by three generations of the same family for more than 80 years is testimony to the location, and its underlying credentials.
"And who wouldn't love to wake up to that view over Wellington Harbour every day?"
There are standard residential tenancy agreements in place for the flats in Baring St; the apartment above the shop is vacant; and there's an active commercial lease for the retail shop.
There has been a store on the site for almost 130 years. It is understood that the original shop opened around 1890, with one of the original co-founders of wholesalers Moore Wilson & Co. behind the counter.
In 1937, the Newport family took ownership of the property and there was a horse stable and hay loft behind the store when the family first moved in.
Trading as Newports Store, Roger Newport's parents ran the shop for 10 years before leasing the business, and continuing to live in the upstairs accommodation. After his parents passed away, Roger and his wife Judith Newport bought the property in 1964 and subsequently ran Newports Store for 26 years.
In 1980 they added a third floor to the property to provide extra space for their family of four, with the enclosed upper balcony providing a grandstand view of the Wellington harbour and the Oriental Bay promenade. When Roger and Judith retired in 1990, they continued to live upstairs.
In 1993 they bought the neighbouring property at 1 Baring St – a quaint two-level property which comprises two flats – as a residential investment.
Daughter Sara Dockery says her parents ran the dairy before the days of supermarkets, with locals phoning in their weekly order.
"Dad would deliver the shopping to their homes and unpack the goods on their kitchen bench if they were elderly," she recalls.
"Everything was packed in paper bags, ham and bacon was sliced on the premises, and the best and freshest fruit and vegetables were sourced from the produce markets in Blair St."
The current tenant of the now-named Oriental Bay Store, Jiten Patel, has leased the shop from the Newports for the last 28 years, with the store still well-known for its ice-cream sales, and doing a roaring summer trade.
