News: Space in Evening Post building

NZ Herald

16 Feb, 2015 01:00 AM2 mins to read

Exterior view of the former Evening Post building at 82 Willis St, Wellington, in which part of the fifth level is being offered for sale.

Part of the fifth level of the well-known former Evening Post newspaper building at 82 Willis St in central Wellington is being offered for sale.

"This seven storey city character building was refurbished and subdivided in half floor office unit titles around 2002 and 2003," says Andrew Smith of Bayleys Wellington who, with colleague Mark Walker, is offering the stratum in freehold 164 sq m vacant half floor for sale by tender closing at 4 pm on Wednesday March 4.

"During the last 12 months the building has been strengthened to in excess of 90 per cent of new building standard [NBS]," Smith says.

"The current owners have significantly enhanced the character of the office with a high quality fit out that is modern yet fitting for such a distinctive building.'

The building is accessed and serviced by a Schindler lift and a feature marble stairwell with decorative timber balustrade. Unit 11 is on the western side of Level Five and shares common shower and toilet facilities with one other office owner occupier.

Zoned Central Area, the building is on the western side of Willis Street in the heart of the opposite the busy Mercer Street intersection.

Walker says estimated rent for the half floor charged out at $280 to $300 per square metre would be $45,920 to $49,200 per annum.

"Deducting rates of $4975 and body corporate fees of $14,194 for total outgoings of $19,169 would give a total net income of $26,751 to $30,031," he says.

Walker says the building is within easy walking distance to the Wellington City Council, the capital's vibrant waterfront and Lambton Quay.

"It is well serviced by car parking buildings in Boulcott Street along with public bus services across the road. As an office location, Willis Street contains a diverse range of office accommodation with Telecom Central, the State Insurance Tower and the Majestic Centre regarded as landmark buildings in the CBD. The addition of the Chews Lane precinct with its new apartments, retail shops and cafes, has made this area very popular with a large population of office tenants and residents," Walker says.