Whanganui CBD property lease open as 109-year-old business shuts down

Council chief executive David Langford says negotiations for a new lease are under way 'with some parties'. Photo / NZME

The lease for a 2030sq m property in Whanganui’s CBD is up for grabs, with the current occupier bringing the curtain down on a 109-year-old business.

Wanganui Furnishers will shut its doors at the end of this month and has to vacate the property by May 31.

The business sold the property, at 33 Victoria Ave through to 36 St Hill St, to Whanganui District Council for $1.5 million last year.

Part of the agreement was an annual $120,000 lease back.

Council chief executive David Langford said there had been a lot of interest and negotiations were under way “with some parties”.

“We are hopeful we will have a new tenant in the building and it’ll be a good addition to the main street – a new business that the community will enjoy,” he said.

“We would hear out any offer that came our way but we want something fitting for the location.”

He said because of commercial sensitivities, no other information could be shared.

The council’s purchase was part of an almost $4m package for land and buildings on lower Victoria Ave, Ridgway St and St Hill St, with one option being to develop a hotel and carpark.

That idea was eventually scrapped and the $1.6m Ridgway St deal fell through last September.

Langford said the Wanganui Furnishers property would bring in non-rates revenue to the council and one of the reasons for the purchase was its “prime location”.

“The lessee would fit out the building for whatever purpose they needed it for,” he said.

“Beyond that, if there are some upgrades to the building to be done, we would negotiate between the two of us who covers what.”

Wanganui Furnishers put the property on the market in June 2023.

It bought the Victoria Ave site in 1959 and expanded operations on to St Hill St in 1982.

Mike Tweed is a multimedia journalist at the Whanganui Chronicle. Since starting in March 2020, he has dabbled in everything from sport to music. At present his focus is local government, primarily the Whanganui District Council.