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CBRE is pleased to offer Transpower House, 96 The Terrace, Wellington for Sale.

Transpower House, located at 96 The Terrace, is an eleven storey office building constructed in 1960. The building was originally built as the corporate head office for Shell New Zealand, and was substantially refurbished in 2003/2004 before Transpower New Zealand Limited’s occupation.
Transpower House represents an outstanding opportunity for one to refurbish and seismically strengthen the building to cater for the strong demand for quality seismically compliant office space. Alternatively, the building has the potential to convert into student hostel, apartments or a hotel.
Transpower House is currently fully occupied by Transpower New Zealand Limited, who are the state-owned enterprise responsible for electric power transmission in New Zealand. They will be vacating in September 2017, which will provide the new owner some additional cash flow after settlement, before commencing refurbishment or strengthening. The current net income is approximately $1.8 million per annum.
Given the opportunity this offering presents, CBRE strongly recommends your early consideration and encourages motivated purchasers to get in touch without delay.

Investment highlights include:

  • Outstanding opportunity; refurbish office space or potential conversion to student hostel, hotel or apartments.
  • 8,377sqm NLA, typical floor 722sqm
  • Transpower lease expires September 2017
  • 1,628sqm freehold site
  • Central CBD/Terrace location, handy to the motorway, Victoria University and Wellington’s retail ‘Golden Mile’
  • 39 car parks with rear access


 For Sale by Deadline Private Treaty, closing 4pm, 23 May 2017 (unless sold prior).