ONE OF WELLINGTONS’ BEST REDEVELOPMENT OPPORTUNITIES BECOMES AVAILABLE
Vicinity Limited announces the purchase of the “Capital City Motors’ Ford and Mazda” site in Taranaki Street Wellington – with a view to redeveloping it once the dealership moves from the site by 31 August 2017.
We have been attempting to acquire the site for the last two years – and are pleased to have done so after extensive negotiations.
Everyone tries to say their site is unique – we believe this one just might just be!! A corner site of @7,500m2 in the heart of Wellington’s Te Aro, with @100m West facing frontage to Taranaki Street and @88m frontage to Jessie Street, it is not only a very generous size – it also has great visibility, access, and fantastic proportions.
The site is ideally suited to a wide variety of uses and is in the heart of Te Aro “cool” – with PreFab, Café L’affare & Moore Wilson’s all within shouting distance. It is also centrally located between the Courtenay Precinct and Cuba Quarter (it’s within 250m of Cuba Street and 200m from Courtenay Place). Any future use on the site could easily build on the character of these precincts – or establish their own.
Capital City Motors still has a lease for two years which allows time to explore options for future development without rushing – meaning there is time to assess options and explore best uses, with sufficient time to do the usual planning and negotiations. A new project can be ready to commence on the 1st of September 2017.
Planning rules allow a wide range of uses and there is a generous height allowance over the site.
The sites size and proportions allow for either large floor plates if required – or alternatively a “campus” style development (possibly re-using existing buildings). Existing buildings could be retained and given a new life – or demolished to make way for a new project entirely.
The site comprises 6 titles – which allows flexibility and introduces the possibility of dealing with it in smaller parts – not just the whole site as one project. We believe there are very few alternative – large – sites in central Wellington, those that there are, are either tucked away, with difficult access, or have supermarkets on them!! We are aware of a number of parties who wish to discuss possible uses for the site – no doubt there will be more once it becomes widely known the site is available for redevelopment or reuse.
We look forward to these discussions to see how we revitalise a fantastic site and help enhance Wellington’s reputation as the coolest little capital in the world.
For further information contact – Mike Cole 021 440 292 or Ash Pama 021 550 069