72 Sydney Street, Petone, Lower Hutt
72 Sydney Street
This property is being offered for sale by Deadline Private Treaty closing Thursday 2 July 2026 at 4pm (unless sold prior).
Clear Span Industrial Asset in Sought-After Location.
Foreword.
As Exclusive Agents, CBRE New Zealand is pleased to offer 72 Sydney Street, Petone, Lower Hutt for sale by Deadline Private Treaty closing Thursday 2 July 2026 at 4pm (unless sold prior).
The property features an industrial building with office/amenity areas and car parking, offering a strong opportunity for owner-occupiers and investors.
The building is a medium-stud warehouse which was originally constructed in the circa 1940s with the majority of the warehouse being rebuilt in 2009 to provide good quality clear span space.
The Freehold land parcel is 511sqm (more or less) with some 407sqm (approx.) gross lettable area (GLA) making this an excellent proposition for an investor or owner occupier looking for a opportunity in a sought-after location.
For further information, please contact one of the nominated brokers.
Dharmendra Mistry Director
Metropolitan Investments
+64 21 175 0751 dharmendra.mistry@cbre.co.nz
Kane Kingston Sales and Leasing Executive
Metropolitan Investments & Industrial & Logistics
+64 22 124 7004 kane.kingston@cbre.com
CBRE (Agency) Ltd & CBRE Ltd
Licensed Real Estate Agent (REAA 2008)
Property
Offering
Executive Summary.
72 Sydney Street, Petone, Lower Hutt
An opportunity to acquire a single level industrial building with offices/ amenities and car parking in a sought-after location.
Sales Process For Sale by Deadline Private Treaty closing Thursday 2 July 2026 at 4pm (unless sold prior)
Gross Lettable Area 407.20sqm (approx.)
Land Area 511sqm (more or less)
Tenure Freehold
Legal Description
Lot 5 Deposited Plan 412 on Record of Title WN513/10
Registered Owner Hanns Trading Trust
Hutt City Council Rates
$11,499.08pa (plus GST)
Insurance Premium $9,186.81pa (plus GST)
Electronic Data Room www.cbreinvest.co.nz/72sydneystreet
Lease Status Vacant possession from 1 November 2026
Holding Gross Income $80,000.00pa (plus GST)
Passing Net Income $59,314.11pa (plus GST)
Investment Highlights.
Final expiry 31 October 2026
Holding income $80,000pa (plus GST)
Vacant possession from 1 November 2026
Clear span
Great natural light
Majority rebuilt in 2009
On-site car parking (5)
Sought-after location and investment class
Flexible settlement
Premises Description.
The property comprises a medium-stud warehouse building which was originally constructed in the circa 1940s (front portion) with the majority of the warehouse being rebuilt in 2009 to provide good quality clear span space with a stud height of 4.5 metres rising to 6.2 metres at the apex.
A small office and amenities annex is located to the street frontage, where five off-street car parks are provided.
Lettable Areas
Occupancy Details.
We have been provided with Lease documents which are summarised below.
Premises
72 Sydney Street, Petone, Lower Hutt
Legal Description Lot 5 Deposited Plan 412 on Record of Title WN513/10
Gross Lettable Area
407.20sqm (approx.)
Tenant Upspec Joinery Limited
Guarantor Reuben Hanns-Voyle
Initial Lease Term Four (4) years
Final Expiry 31 October 2026
Passing Gross Rental
Lease Type
$80,000pa plus GST
Gross lease
Proportion of Outgoings The tenant is responsible for consumables and utilities only
Business Use
Joinery workshop and associated uses
Petone continues to emerge and develop into one of Wellington’s preferred retail, residential, café and restaurant destinations, and is currently relishing in an urban renaissance.
Location.
Ongoing gentrification in the area has seen a quality uplift of local businesses, as well as an increase in curb-appeal on the main street. The nearby railway station presents a convenient transportation option for commuters into Wellington’s CBD.
Petone has a notably higher proportion of the 20 to 39-year-old population than the surrounding Lower Hutt suburbs. More than a third of all people currently residing in Petone are aged in this cohort. Young professionals and first home buyers continue to be drawn to the area because of the amenity and ease of access to the both the Wellington and Lower Hutt CBDs. This demographic provides increased demand in this area for smaller non-traditional housing such as townhouses and apartments.
Over the next 25 years, Petone has a projected population growth almost double that of the wider Hutt City, which is expected to grow by 7.0%.
Sales Process.
For Sale by Deadline Private Treaty closing Thursday 2 July 2026 at 4pm (unless sold prior).
All offers are to be submitted to the Exclusive Agents on the prescribed form no later than the date and time above.
Electronic Data Room
Comprehensive property information is available within the electronic data room accessible via:
www.cbreinvest.co.nz/72sydneystreet
Please contact one of the nominated brokers to arrange access to the electronic data room.
The electronic data room contains details of the property including, but not limited to, the following:
– Record of Title
– Pro-Forma Agreement for Sale & Purchase
– Seismic documentation
– Lease documentation
– LIM
– Insurance documentation
Please note, new documentation may be uploaded to the electronic data room throughout the campaign. Parties with approved access to the electronic data room will get an automatic notification of any new uploads.
Dharmendra Mistry Director
Metropolitan Investments +64 21 175 0751 dharmendra.mistry@cbre.co.nz
Kane Kingston Sales and Leasing Executive
Metropolitan Investments & Industrial & Logistics
+64 22 124 7004 kane.kingston@cbre.com
Disclaimer © 2026 CBRE, Inc. All rights reserved.
USE OF THIS INFORMATION MEMORANDUM: This Memorandum is provided for preliminary information purposes to a limited number of parties solely to enable recipients to acquaint themselves with the properties and you are not permitted to use it for any other purpose. It is not, nor is it intended to be, an offer for the properties. It does not purport to contain all of the information a prospective purchaser may require. In all cases, interested parties should conduct their own investigation verification and analysis of the opportunity and the data contained in this Memorandum.
MEMORANDUM NOT AN OFFER: This Memorandum does not constitute an offer of any kind. In particular, this Memorandum is not, and does not contain, an offer of financial products.
NO RELIANCE OF STATEMENTS: Any statement or opinion made by CBRE in connection with the transaction contemplated in the IM is not based on any actual or implied knowledge or consideration of the investment objectives, financial situation, legal or taxation position or any other particular needs or requirements of the recipients of this IM. All parties must make their own independent assessment and investigation including without limitation, seeking professional advice, and must determine their interest in proceeding upon the basis of such independent assessment, investigation and advice. Any statement or opinion of CBRE whether express or implied is not, nor should be construed as a recommendation by CBRE or any of its officers, agents, brokers, employees (“Associates”) to participate in the transaction and, to that extent, no reliance will be placed on CBRE or its Associates.
INFORMATION: The information set out in this document has been prepared using information derived from a variety of external sources. Neither the Vendor nor CBRE warrants the accuracy of any of the information and does not accept any legal liability or responsibility for any injury, loss or damage of any nature incurred by the use of, or reliance on, or interpretation of the information contained herein. This Memorandum is distributed on the express understanding that none of the information contained herein has been independently verified and no representation or warranty is made, nor any responsibility accepted, by the Vendor or its advisors with respect to the completeness, accuracy or reliability of any information contained in this Memorandum. Further, those parties will have no liability for any statements, opinions, information or matters (express or implied) arising out of, contained in or derived from, or any omissions from, or failure to correct any information in this Memorandum or any other written or oral communications transmitted to the recipient in relation to this opportunity. Interested parties will be afforded the opportunity to undertake an inspection of the properties to satisfy themselves as to, amongst other things, the completeness, accuracy and reliability of the information contained in this Memorandum.
NO REPRESENTATIONS AND /OR WARRANTIES GIVEN: Neither the Vendor nor CBRE and its Associates warrant (expressly or impliedly) that information contained in this IM is complete, true and correct and not misleading or not likely to be misleading or deceptive. The Vendor, CBRE and their Associates are not responsible and will not under any circumstances be liable (whether at law, in equity, under statute or otherwise) for any statement made or anything contained in or arising out of the information contained in this IM including, without limitation, any errors, misrepresentation or omissions. No statement or opinion of CBRE or its Associates shall be imputed to the Vendor or its Associates. CBRE disclaims all responsibility for any loss or damage caused by reliance by any person on this IM or any representation, warranty or statement made by or on behalf of CBRE and its Associates.
72 Sydney Street, Petone, LOWER HUTT
CBRE (Agency) Limited
Licensed Real Estate Agent (REAA 2008)
Sydney Street © 2026 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners, and the use of such logos does not imply any affiliation with or endorsement of CBRE. Photos herein are the property of their respective owners. Use of these images without the express written consent of the owner is prohibited.