13 Ridgway Street, Whanganui

Tender 19 September 2024
2,149m2
Land Area
1,410m2
Floor Area

+20

+19

Substantial holding

We are excited to present this prime commercial property currently home to Club Metro, arguably one of the more desirable properties to recently enter the market. Situated in the Arts and Commerce Zone of the city's CBD, the property spans approximately 2,149 m2 of land between two streets and features 1,410 m2 of building space across two levels, complete with top-level fixtures and fittings. The building boasts a diverse and impressive layout, including a large restaurant with a well-appointed kitchen, a spacious bar, a gaming lounge, additional games rooms, function rooms, and office spaces. The property also offers substantial parking at the rear, accessible off the street, and is conveniently located directly across from UCOL, enhancing both its visibility and accessibility. Club Metro was established in 2018 through the merger of our clients, the Wanganui Cosmopolitan Club with the RSA, and carries forward a tradition of over 100 years of community service and camaraderie. The Club is eager to continue their tenancy under new ownership, making this property not only a significant investment opportunity, but also a chance to contribute to the continuation of a cherished local legacy.

13 Ridgway Street, Whanganui

Web ID

WGC188696

Floor area

1,410m2

Land area

2,149m2

District rates

$16,672.45pa

Regional rates

$1,949.00pa

LV

$1,170,000

RV

$1,820,000

Tender (unless sold prior)

Thursday, 19 September 2024, 4.00pm


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Contact


Richard White

Richard White

027 442 6171

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WGC188696

About the location


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From $520,000 + GST (if any)

A destination for many business types, the historic Victoria Court building in Whanganui's Victoria Avenue is the home of Japanese Kitchen Wa and the unique environment is complemented by this renowned hospitality business. A licensed cafe and restaurant, the business caters for Asian tastes and offers a wide ranging menu. For sale as a going concern, this 99 sq m (more or less) cafe and restaurant has a fully equipped commercial kitchen, interior and courtyard dining spaces with seating for up to 90 guests. Surrounded by banking and a large range of local and nationally recognised retail businesses.

By Negotiation

Often admired, the ground floor retail area features a mixed modern industrial style. Unique exposed trusses are integral in an earthquake strengthening process for this Victoria Avenue heritage building, with retail ground floor and potential apartment development to the top floor. A truly prime position in the central Victoria Avenue, Whanganui`s main retail locality, neighboured by a wide range of successful national and local business tenancies. The ground floor has a substantial mezzanine over the mirrored changing rooms and kitchenette. The top floor is spacious and requires some TLC and vision. Total floor area 300 m2 (approx) and section 164 m2 (approx). Originally constructed as retail and offices, the current owner has not continued the strengthening development on the top floor, although plans are provided. Views from both floors are streetscape and city overviews. For sale offers over $450,000 plus GST (if any). For lease ground floor only, $300 plus GST plus outgoings per week.

Buyers $450,000+

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