Foreword
As Exclusive Agents, CBRE New Zealand is proud to offer 21 Fitzherbert Terrace, Thorndon, Wellington for sale.
The property consists of a 572sqm (more or less) prime parcel of land accessed directly off the exclusive cul-de-sac of Fitzherbert Terrace. It includes a two-level ‘Art Deco’ style building originally constructed as a residential dwelling in the 1930s and more recently converted into office accommodation. The property is centrally located within close proximity to the CBD and a short distance from the Government precinct, as well as all central city amenities and the waterfront. The land is currently zoned ‘High Density Residential Zone’ with an associated 22 metre (7-storey) height limit.
The property is being offered for sale by Deadline Private Treaty, closing Wednesday 28th 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 Information Memorandum introduces the property and provides most 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 documentation can be downloaded via the Electronic Data Room.
This offering presents an incredibly rare opportunity to acquire a prime land parcel in the heart of Thorndon, with existing improvements that may suit an owner occupier. Accordingly, CBRE strongly recommends your early consideration of this outstanding opportunity and encourages interested parties to get in touch without delay.
For further information, please contact one of the nominated brokers.
Mistry
Metropolitan Investments +64 21 175 0751
dharmendra.mistry@cbre.co.nz Rick Stace
Metropolitan Investments +64 21 338 465 rick.stace@cbre.co.nz
Property Summary
Property
Offering
21 Fitzherbert Terrace, Thorndon, Wellington
An exciting opportunity in the heart of Thorndon - occupy or develop.
Gross Floor Area 290sqm (approx.)
Land Area 572sqm (more or less)
Tenure Freehold
Legal Description
Lot 1 Deposited Plan 10706 on Record of Title WN8C/7
Registered Owner Civil Contractors New Zealand Incorporated
WCC Rates
Sales Process
$56,395.84pa + GST
For Sale by Deadline Private Treaty closing, Wednesday 28th May April 2025 (unless sold prior).
Electronic Data Room www.cbreinvest.co.nz/marganhouse
Occupancy Status Vacant
Zoning High Density Residential
Opportunity Highlights
LOCATION
21 Fitzherbert Terrace, Thorndon, Wellington
GROSS FLOOR AREA
290sqm (approx.)
LAND AREA
572sqm (approx.)
VACANT POSSESSION
FLEXIBLE SETTLEMENT DATE
HIGH DENSITY
RESIDENTIAL ZONING HEIGHT LIMIT 22 Metres
SOUGHT AFTER LOCATION
Location
This property is located within the heart of Thorndon. Thorndon is a historic inner-city suburb recognised as one of the most sought-after residential addresses in Wellington.
Thorndon has a fruitful history known for its 1800s structures, up-market residential properties and several sites of particular significance such as Katherine Mansfield House, Old St Paul’s, Parliament buildings (including the iconic Beehive) and one of New Zealand’s oldest public houses.
Within close proximity to the CBD and a short distance from the Government precinct as well as central city amenities, the waterfront and Sky Stadium, the area benefits from several quality cafés, bars and eateries, plus a selection of antique stores on Tinakori Road.
Thorndon also hosts a great range of parks including the Wellington Botanical Gardens and has a number of great schooling options which makes this location perfect for families.
21 Fitzherbert Terrace
Property Information
The property consists of a 572sqm (more or less) prime parcel of land accessed directly off the exclusive cul-desac of Fitzherbert Terrace.
It includes a two-level ‘Art Deco’ style building originally constructed as a residential dwelling in the 1930s and more recently converted into office accommodation.
The site is of regular shape with access directly off Fitzherbert Terrace. This site has a width of 17 metres approximately to the northern boundary accessed directly off Fitzherbert Terrace, approximately 17 metres to the southern boundary, and a depth of approximately 33.5 metres to both the western and eastern boundaries.
Improvements
Construction comprises a perimeter foundation wall with timber floors, timber frame construction with stucco walls, metal and aluminium joinery and a flat membrane roof which was replaced in 2009. The Ground Floor of the building comprises of a large entry foyer and reception, a board room, office space and amenities area which includes a small sun room, dining area, kitchen, bathrooms and a reception area.
Level 1 provides partitioned office space which is predominantly occupied by the owners, common stairwell and landing areas, plus stairwell access to the roof. The interior is in good condition.
Legal Description Lot 1 Deposited Plan 10706
Record of Title WN8C/7
Tenure Freehold
Registered Owner Civil Contractors New Zealand Incorporated
Land Area
572sqm (more or less)
Zoning High Density Residential
Occupancy Status Vacant Possession
Site Particulars
Legal Description
Ownership
The Fee Simple Estate is legally described as Lot 1 Deposited Plan 10706 contained in Record of Title WN8C/7 having a land area of 572sqm (more or less).
The property is the Registered Ownership of ‘The New Zealand Contractors’ Federation (Incorporated)’.
Frontage
The property has frontage to Fitzherbert Terrace of approximately 17 metres.
Depth 33.5 metres (approx.)
Area 572sqm (more or less)
Access Fitzherbert Terrace only
Utilities
We understand the property is connected to all major utility services including electricity, water, telephone, and sewage.
Geotechnical
We have not been provided with a geotechnical survey of the property.
Greater Wellington Regional Council holds a register of sites where activities involving hazardous substances have or may have taken place. This register, known as the Selected Land Use Register (SLUR), is held on behalf of the eight Territorial Authorities in the Wellington region.
Environmental and other Special Risks
The SLUR records sites that fit the definitions in the Ministry for the Environment’s Hazardous Activities and Industries List (HAIL).
We have been advised by the Greater Wellington Regional Council that the property does not appear on the Greater Wellington Regional Council’s Selected Land Use Register (SLUR).
Resource Management
The property is zoned ‘High Density Residential’ under the operative Wellington City 2024 District Plan with an associated height limit of 22 metres above ground level.
Contact Us Today
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 onthe 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.