Hutt offices to benefit from RiverLink

Once home to a print business, 71 Dudley St, Lower Hutt, will be sold with vacant possession. Photo / Supplied

A freehold office for sale in central Lower Hutt is in a river precinct location poised for urban renewal, according to brokers.

Colliers International brokers Janette Lillas and Tim Julian are marketing the property at 71 Dudley St for sale by deadline private treaty closing on July 11, unless sold earlier by negotiation.

Featured in the latest Colliers Portfolio, the Central Central Commercial zoned property comprises two stories of offices, basement storage and garaging for two cars.

Lillas says it is available with vacant possession, which will appeal to both owner occupiers and developers.

"This property is ideal for the astute investor to either own and occupy right away or strategically develop and add-value," she says. It has a net lettable area of 1263sq m with a total floor area of 1270sq m, including a 42sq m garage and 76sq m basement ,and occupies a 671sq m landholding.

"Features include a main staircase in the southeastern corner, kitchens and amenities on both floors, and glazing on three sides of the property, allowing for great natural light," Lillas says.

Being close to the Hutt River, the property will soon benefit from the Greater Wellington Regional Council and Hutt City Council's proposed RiverLink project. This aims to deliver better lifestyle amenities and improved transport links while improving central Lower Hutt's flood protection.

"This urban renewal project will create a vibrant riverside promenade with apartment buildings overlooking the river, and more apartments in the CBD in general," Lillas says.

"A key feature is a new walking link connecting Lower Hutt CBD with the proposed new site for Melling Station.

"With RiverLink's construction due for 2020, now is the ideal time to buy before surrounding prices surge."

Lillas says the property is already well located, within Lower Hutt's CBD.

"Major retailers nearby include Countdown, Queensgate Shopping Centre, and the Harvey Norman Centre and surrounding cafes and restaurants."

The property could be sub-divided into sought-after smaller office tenancies of less than 150sq m, at the same time as carrying out seismic work. An existing centrally located lift makes this an easy proposition," she says.

"Or the property could be a live and work conversion. Simply convert the whole property to residential or retain some of the ground floor for smaller office tenancies to meet Lower Hutt's demand for attractive smaller office space. Or perhaps strengthen and add an additional level for apartments - the opportunities are extensive."

Lillas says the property has a rateable value of $1,370,000 and is being sold by a family trust after many years in their ownership.

It originally accommodated the Public Trust and for the past few years has been leased to Baseline Printers.

"Dual Dudley and Daly St frontages provide great profile with the property being in line of sight to south bound traffic approaching along Rutherford St," Lillas says.

"The locality is excellent for office and or residential use."