192 Cuba Street, Te Aro, Wellington
For Sale: Stunning Ground Floor Commercial Unit with Iconic Tenant - Logan Brown
Foreword
As Exclusive Agents, CBRE New Zealand is pleased to offer 192 Cuba Street, Te Aro, Wellington for sale. The property comprises a Ground Floor commercial unit situated on a prominent north-west facing corner, providing a great investment opportunity for any passive investor.
The property is being offered for sale by Deadline Private Treaty, closing Wednesday 7th May 2025 at 4pm (unless sold prior). Offers are to be submitted on the prescribed form which can be downloaded via the Electronic Data Room.
This document introduces the property and provides associated details of the opportunity. Potential purchasers should satisfy themselves on all matters that would normally be considered when making an investment of this type. Further information can be obtained through CBRE and due diligence material can also be downloaded via the Electronic Data Room.
This is a great opportunity to acquire a stunning passive investment located on a prominent corner in central Wellington. Accordingly, CBRE strongly recommends your early consideration of this investment opportunity and encourages interested parties to get in touch without delay. For further information, please contact one of the nominated brokers.
For Sale by Deadline Private Treaty, Closing Wednesday 7th May 2025 at 4pm (unless sold prior).
Dharmendra Mistry
Director
Metropolitan Investments
+64 21 175 0751
dharmendra.mistry@cbre.co.nz
Rick Stace
Director
Metropolitan Investments
+64 21 338 465
rick.stace@cbre.co.nz
Opportunity Highlights
NET LETTABLE AREA
486sqm (approx. across Ground Floor, Basement and Mezzanine)
LOCATION
192 Cuba Street Te Aro, Wellington
HIGH-PROFILE
Prominent north-west facing corner site
ANNUAL RENT
$162,000 + GST (gross)
SEISMIC STATUS
70% NBS (2023 ISA)
Character building with renowned tenant in occupation since 1996
Property Summary
PROPERTY
OFFERING
NET LETTABLE AREA
TENURE
LEGAL DESCRIPTION
REGISTERED OWNER
WCC RATES
INSURANCE
Ground Floor Commercial Unit, 192 Cuba Street, Te Aro, Wellington
An opportunity to acquire an iconic investment located on a prominent corner in central Wellington.
486sqm* (across Ground Floor, Basement and Mezzanine)
Stratum in Freehold
Principal Unit 1 Deposited Plan 83628 on Certificate of Title WN50D/352 and WN50D/350
Nutrition For Health Limited
$30,505.00 plus GST
$22,724.56 plus GST
SALES PROCESS For Sale by Deadline Private Treaty closing, Wednesday 7th May 2025 at 4pm (unless sold prior)
ELECTRONIC DATA ROOM www.cbreinvest.co.nz/192cubastreet
OCCUPANCY STATUS Logan Brown Limited
PASSING NET INCOME
SEISMIC STATUS
ZONING
*All areas subject to final confirmation.
$108,770 plus GST
70% NBS (2023 ISA)
Central Area
Occupancy Details
We have been provided with a Deed of Lease which is summarised below:
Net Lettable Area 486sqm*
Tenant Logan Brown Limited
Commencement Date 9th December 2024
Lease Term Three (3) years
Next Right of Renewal 9th December 2027
Final Expiry 8th December 2033
Passing Gross Rental
Passing Net rental
$162,000pa plus GST
$108,770 plus GST
Rent Reviews Three yearly market rent review
Next Market View 9th December 2027
Lease Type Gross Lease
Proportion of Outgoings The tenant is responsible for consumables and utilities only
Business Use Office
*All areas subject to final confirmation.
The Tenant: Logan Brown
Logan Brown opened in December 1996, and decades later it is one of the most recognised Cuba Street, Wellington restaurants - we like to say we are way different but still the same!
We have evolved with dining trends, service styles, taken opportunities with new product and techie innovations, and of course will continue to do so.
What has never changed is the sharing with our guests our true passion for our craft, our community and our country.
We want everyone to be as proud as we are about New Zealand’s environment, the land and seas bounty, and the amazing people who harvest or produce from it.
Working closely with these passionate producers inspires and excites the team who are proud to share their stories, and we always welcome new seasons and new to the market produce from suppliers and give it a go.
We care deeply about our country's environment so source locally, sustainable produce and strictly avoid the likes of dredged scallops and at-risk species such as blue fin tuna and whitebait. We get that a restaurant's carbon footprint can be significant so meet the challenge of minimising it with rigorous recycling systems and attention to energy efficiency.
Source: www.loganbrown.co.nz
Location
Cuba Street is at the heart of Te Aro’s bustling and soulful precinct. The vivid promenade is lined with cafés, restaurants and boutique retailers who reside below in the elegant historical buildings that evoke Cuba’s eclectic vibe.
192 Cuba Street is situated in the heart of the Cuba bohemia. There are a range of residential apartment developments and a mixture of conventional and character office accommodation all within walking distance. The vibrant café culture remains strong after beginning in the 1940, when European refugees sailed in and insisted on real coffee. The coffee is strong and the variety of delectable food within the strip is a form of culinary heaven.
192 Cuba Street is situated close to State Highway 1 within the suburb of Te Aro towards the southern fringe of Wellington’s CBD. Located on the corner of Cuba and Vivian Streets, 192 Cuba Street has easy access to links from the motorway connecting to the city and through to Wellington Airport, as well as access to main bus routes.
6km Wellington Airport
1km State Highway 1
1.5km Wellington CBD
*Distances are approximate
Contact us Today
For Sale by Deadline Private Treaty, Closing Wednesday 7th May 2025 at 4pm (unless sold prior).
Dharmendra Mistry
Director
Metropolitan Investments +64 21 175 0751
dharmendra.mistry@cbre.co.nz
Rick Stace
Director
Metropolitan Investments +64 21 338 465 rick.stace@cbre.co.nz
Disclaimer
This information memorandum has been prepared by CBRE (Agency) Limited, Licensed Real Estate Agent (REAA 2008) (Company Number: 916848 / REA Licence: 10019682). This document does not constitute an offer or contract of sale. It is intended only as a guide and an aid to further investigation by potential investors. Potential investors accept this document on the condition that they will make their own enquiries and obtain their own independent advice in order to verify the accuracy of the information presented in this document. The content of this document has been derived, in part, from sources other than CBRE and may be based on assumptions. In passing this information on, CBRE and the Vendor do not warrant that such information or assumptions are accurate or correct. Parties should seek their own independent verifications and advice on such information.
To the extent that this document includes any statement as to a future matter, that statement is provided as an estimate and/or opinion based on the information known to CBRE at the date of preparing this document April 2023 and assumptions, which may be incorrect. CBRE does not warrant that such statements are or will be accurate or correct. CBRE provides this document on the condition that, subject to any statutory limitation on its ability to do so, CBRE disclaims liability under any cause of action including negligence for any loss arising from reliance upon this document. This confidential document is for the sole use of persons directly provided with it by CBRE and is not to be supplied to any other person without the prior written consent of CBRE. Use by, or reliance upon this document by any other person is not authorised by CBRE and without limitation to the above disclaimers, CBRE is not liable for any loss arising from such unauthorised use or reliance.
GST Disclaimer
CBRE (Agency) Limited advises that the financial information in this report, relating to income, outgoings and the like is provided without reference to the possible impact of GST, if any. Purchasers should make their own assessment of the impact of GST on the investments and the returns derived there from after obtaining expert professional advice.
Confidentiality
The information contained in this document is provided on the basis that it is strictly private and confidential. The information may not be reproduced, in whole or in part, nor may any of this information be divulged or disclosed to any third party without the prior written consent in writing of the Vendor as required by law.