SYMONDS STREET PORTFOLIO


57 Symonds Street

Executive Summary
Interest for sale: 100% Freehold in Fee Simple
Legal description: Lot 2 Deposited Plan 125222 and Lot 5 Deposited Plan 529294
Identifier: 857493
Capital Value: $21,500,000
Site area: 2,345m²
Zoning: Business - City Centre
Built: 1982
Net lettable area (NLA): 3,722m²
Floor plates: 420m² (approximately)
Levels: 10 (including basement)
Car parks: 65 (11 basement, 54 uncovered)
Seismic: 100% NBS A Grade
Occupancy: 82%
WALE: 1.6 years
Net passing income: $1,118,956
Potential fully leased income: $1,386,609
The property comprises a nine-level office building with an additional level of basement car parking, along with open car parking also provided on the balance of the site. The overall site provides a large landholding of approximately 2,345m², benefiting from significant frontage to Symonds Street.
Improvements were originally constructed in 1982, with refurbishments being made since, and it has an A-grade seismic rating. The building is 86% occupied with a diversified income stream from a range of high-quality service providers, including Tend, Gaze Burt Lawyers, and Chatfield & Co, providing a net passing income of $1,118,956, and a fully leased net income of $1,386,609 at an average net rental under $300/m², with most having fixed rental increases providing future rental growth.
A development study by Ignite Architects identifies the potential to develop a small commercial building on the approximate 617m² of surplus land adjacent to the existing building. This provides purchasers with an opportunity to add value in the future.






57 Symonds Street Gallery
Boundaries and renders are indicative only.












