100 Cable Street INFORMATION MEMORANDUM 100 Cable Street, Te Aro, Wellington
Wellington’s Next Landmark Opportunity
100 Cable Street, Te Aro, Wellington
As Exclusive Agents, CBRE New Zealand is pleased to present to the market 100 Cable Street, Te Aro, Wellington; a substantial development opportunity in one of Wellington’s most sought-after city fringe locations. Positioned on the prominent corner of Cable and Chaffers Streets, the property occupies a strategic position within proximity to the Waterfront, Te Papa, Tākina Convention Centre, and CBD.
Information Memorandum | CBRE
A rare opportunity to acquire a prime 2,044sqm corner freehold land parcel with a 42.5 metre height limit, ripe for development.
Information Memorandum | CBRE
100 Cable Street, Te Aro, Wellington
Prime Position. Unlimited Potential.
Information Memorandum | CBRE
Prime Te Aro Location High-profile corner site in a vibrant and rapidly evolving precinct, within easy walking distance of the CBD, Waterfront, and key city amenities.
Significant Landholding Comprising approximately 2,044sqm of freehold land with extensive frontage to both Cable and Chaffers Streets.
Development Potential Zoned ‘City Centre’ with a maximum building height of 42.5 metres above ground level, providing scope for a range of future development options.
Holding Income Currently leased to Wilson Parking, providing short-term income whilst plans are considered.
The property is being offered for sale by Private Treaty. Interested parties can access further information and due diligence material via the Electronic Data Room. This Information Memorandum provides an overview of the opportunity. Purchasers should undertake their own investigations and satisfy themselves on all matters relevant to their purchase decision. Opportunities of this scale and prominence are rarely available in Wellington’s Waterfront precinct. CBRE recommends early consideration and welcomes enquiries from developers, investors, owner occupiers and land-bankers seeking a prime development opportunity. For further information, please contact one of the nominated brokers below.
Rick Stace Director 021 338 465 rick.stace@cbre.co.nz
Dharmendra Mistry
Sales Process The property is being offered for sale by Private Treaty.
Director 021 175 0751 dharmendra.mistry@cbre.co.nz
Matthew St Amand Managing Director 021 280 3467 matthew.stamand@cbre.co.nz
100 Cable Street, Te Aro, Wellington
Information Memorandum | CBRE
100 Cable Street, Te Aro, Wellington
Key Information. An Exceptional Development Site in Wellington’s Most Dynamic Precinct. Address
100 Cable Street, Te Aro, Wellington
Sales Process
For Sale by Private Treaty
Electronic Data Room
Comprehensive due diligence material is available at: www.cbreinvest.co.nz/100cablestreet (Please contact one of the nominated brokers to arrange access to the Electronic Data Room).
Property Summary
Situated on the corner of Cable and Chaffers Streets and a short walk to the Waterfront, the property comprises a 2,044sqm freehold corner site which is improved with a single storey building currently used as a covered car parking under a monthly lease to Wilson Parking. 100 Cable Street presents a very rare opportunity to acquire a large-scale development site seldom offered to the market.
Legal Description
Lots 17-20 Deposited Plan 4798 on Records of Title WN46C/620, WN46C/621, WN46C/622 and WN46C/623.
Registered Owners
Event Hotels (NZ) Limited
Zoning
City Centre Zone
Land Area
2,044sqm (more or less)
Tenure
Fee Simple (Freehold)
Height Limit
42.5 metres above ground level
Holding Income
$350k per annum gross (approx.)
Information Memorandum | CBRE
100 Cable Street, Te Aro, Wellington
An exceptional freehold development opportunity occupying a high-profile position at the intersection of Cable and Chaffers Streets.
Information Memorandum | CBRE
100 Cable Street, Te Aro, Wellington
Property Description. Situated on the corner of Cable and Chaffers Streets and a short walk to the Waterfront, the property comprises a 2,044sqm freehold corner site which is improved with a single storey building currently used as a covered car parking under a monthly lease to Wilson Parking. 100 Cable Street presents a very rare opportunity to acquire a large-scale development site seldom offered to the market. The Fee Simple title is referenced as follows: Identifiers
WN46C/620, WN46C/621, WN46C/622 and WN46C/623
Land Registration District
Wellington
Estate
Fee Simple (Freehold)
Legal Description
Lots 17-20 Deposited Plan 4798
Registered Owners
Event Hotels (NZ) Limited
Copies of the Records of Title are available to download via the Electronic Data Room.
Information Memorandum | CBRE
Site Description Land Area
2,044sqm (more or less)
Shape
Rectangluar shape
Contour
The site is essentially flat and level with the road
Street Frontages
Cable Street: 52.3 metres Chaffers Street: 42.04 metres
Services
Typical services appear to be connected to the site
Accessibility
Current vehicle access from Cable Street with vehicle egress from Chaffers Street.
Environmental
Greater Wellington Regional Council holds a register of sites where activities involving hazardous substances have or may have taken place. This register, known as the Selected Land Use Register (SLUR), is held on behalf of the eight Territorial Authorities in the Wellington region. The SLUR records sites that fit the definitions in the Ministry for the Environment’s Hazardous Activities and Industries List (HAIL). We have been advised by the Greater Wellington Regional Council that the property does not appear on the Greater Wellington Regional Council’s Selected Land Use Register (SLUR).
Suburb
Te Aro
Situation
Corner of Cable and Chaffers Streets
Location
Northern end of Te Aro, very close to the Waterfront
Surrounds
Located to the southern periphery of the CBD core, the immediate area contains a diverse range of properties in terms of age, design, size and usage. This includes Te Papa, Tākina, residential apartments and Chaffers New World is located opposite. To the north and northeast is the undeveloped Waitangi park car park and Waitangi Park.
Transport Links
Cable Street and Wakefield Street are one-way arterial routes which link the city to the eastern and southern suburbs as well as the bays. These both have bus routes and Wellington Airport is a 15-minute (off peak) drive from the site.
Location.
4 1
1
3
2
1
2
3
4
Courtenay Place Precinct
New World Chaffers
Wakefield Street
The Court (Readings Cinema Complex)
Information Memorandum | CBRE
5 6 100 Cable Street
8
7
8 9
5
6
7
8
9
Tākina Convention Centre
Te Papa
Chaffers Street
Cable Street
Waitangi Park
100 Cable Street
Located directly across the road from Chaffers New World and just a short walk to the Waterfront, Te Papa, Tākina and CBD.
100 Cable Street, Te Aro, Wellington
Statutory Information. Resource Management Overview
The 2024 District Plan is now operative in part and partially replaces the 2000 District Plan. However, parts of the 2000 District Plan remain legally relevant.
District Plan
Wellington City 2024 District Plan: Appeals Version - Operative
Zoning
City Centre Zone
Zoning Description
Wellington central city area as the principal commercial and employment centre servicing the city and metropolitan region. The City Centre Zone is the commercial heart of Wellington and the wider region and New Zealand’s Capital City. It is also a major employment hub for the region and contains a vibrant and diverse mix of inner city living, entertainment, educational, government and commercial activity. Relative to other areas of the city it exhibits a heightened intensity and scale of development. As well as a diversity of activity, the City Centre Zone contains a variety of environments ranging from high-rise office towers and residential apartments through to distinct heritage areas and buildings, and an array of public and open space, including the Waterfront. These combine to give the City Centre Zone a distinctive identity and character. This distinctiveness is further reinforced by the long established traditional, historical, cultural, and spiritual associations and more recent development interests that the mana whenua of Te Whanganui a Tara (Wellington), Taranaki Whanui and Ngati Toa Rangatira, have with many places and sites across the City Centre Zone. Some of the more significant of these include Pipitea Marae and Pa, Kumutoto Kainga and stream, Te Aro Kainga, Waitangi and Whairepo Lagoons and statutory acknowledgement areas such as the Old Government Buildings and Turnbull House Historic Reserves.
Height Limit
42.5 metres above ground level
Information Memorandum | CBRE
100 Cable Street, Te Aro, Wellington
Statutory Information Cont. Permitted Uses
To ensure the continued vibrancy and viability of the City Centre Zone a wide range of activities are permitted and encouraged throughout most parts of the Zone. This is supported by measures to manage activities and development that have the potential to adversely affect public and private amenity or to create reverse sensitivity effects, including along the boundary with adjoining residentially zoned areas or identified public space. In locations where rapid transit investment has been signalled measures have been included to enable opportunities for more intensive, comprehensive development to occur, particularly in areas within a walkable distance of planned rapid transit stop.
Other Development Controls
To maximise development capacity to accommodate projected growth, an increase in the scale and intensity of development is enabled across the zone. This includes building height, density and urban form tailored to align with the outcomes sought by the National Policy Statement Urban Development (NPS-UD) and to reflect the higher, denser nature of development within the City Centre Zone. To complement this the Zone also contains measures to ensure that buildings and spaces are designed to: – Be of accessible and of a good quality – Positively contribute to public space and built form of the City Centre – Offer a suitable level of amenity for users such as access to sunlight and open space – Provide opportunities for active and passive recreational pursuits; and – Mitigate relevant adverse effects.
Existing Use
Appears to conform
Heritage Listing
There are no scheduled historic heritage items in the 2024 District Plan affecting this property.
Information Memorandum | CBRE
Building Warrant of Fitness There is no Compliance Schedule or Building Warrant of Fitness (BWOF) for the building on this property. Rating Valuation The Rating Valuation of the property effective 1 September 2024 (Valuation Reference 17261/1500) is as follows: – Land Value: $11,100,000 – Improvements Value: Nil – Rating Valuations: $11,100,000 Capital Value, defined by 82(1) Rating Valuations Act 1998, is the sum that the owner’s estate or interest in the land, if unencumbered by any mortgage or other charge, might be expected to realise at the time of valuation if offered for sale on such reasonable terms and conditions as a bona fide seller might be expected to require. These assessments represent part of a mass appraisal, normally without any form of inspection and, accordingly, may vary significantly from current market values. The Rating Valuation is reviewed on a three yearly basis and is next reviewed on 1 September 2027.
100 Cable Street, Te Aro, Wellington
Information Memorandum | CBRE
100 Cable Street, Te Aro, Wellington
Market Commentary. 100 Cable Street is in the statistical area known as ‘Courtenay’. The property is next to the QT Wellington Hotel, directly across the street from Chaffers New World Supermarket, and offers uninterrupted views over Waitangi Park and out to the harbour and beyond. Courtenay is a small statistical area within Wellington’s Te Aro suburb and is centred on Courtenay Place, one of the city’s principal commercial and entertainment precincts. The area functions as a mixed-use inner-city precinct, combining hospitality and retail premises with office space and residential apartments, many occupying converted heritage buildings from the district’s earlier industrial and market uses. It is notable for its concentration of licensed venues, restaurants, and performing arts institutions, including the Embassy Theatre and BATS Theatre, which give the area a significant role in Wellington’s cultural and entertainment infrastructure. Chart 1: Courtenay’s Population 2013, 2018 and 2023 Source: Statistics NZ 2,000 1,800 1,600 Population
1,400 1,200 1,000 800
1,761
1,743
2018
2023
1,521
600 400 200 0 2013
Information Memorandum | CBRE
Based on the latest population projection, Courtenay could potentially have an additional 687 residents by 2048 compared with 2023 under a medium growth rate scenario. On the other hand, if the growth rate is high, the population is expected to surge by 1,007 people within the same time frame. Chart 2: Courtenay’s Population Projections 2018-2048 Source: Statistics NZ
population projection
3,500 3,000 2,500 2,000 1,500 1,000 500
Low
Medium
2048
2043
2038
2033
2028
2023
2018
0
High
Regarding Courtenay’s work and labour force statistics, 66.7% of its population has a fulltime job, which is higher than the figure for Wellington City, where 59.0% of the population is employed full-time. According to the latest census (2023), Courtenay has the same unemployment rate as Wellington City of 3.0% (refer Chart 3). Additionally, incomes are lower in Wellington City than in Courtenay (refer Chart 4). Just over half (50.6%) of Wellington City’s population has a personal income higher than $70,000 per annum, whilst in Courtenay, it’s higher again at 53.8%.
100 Cable Street, Te Aro, Wellington
Market Commentary Cont. Chart 3: Work and Labour Force Status – Courtenay and Wellington City 2023 Source: Statistics NZ
66.7%
70% 60%
59.0%
50% 40% 30%
24.0%
20%
13.9%
10%
20.0%
10.2% 3.0%
3.0%
0% Employed Full-time
Employed Part-time
Unemployed
Wellington City (%)
Not in the Labour Force
Courtenay (%)
Chart 4: Total Personal Income – Courtenay and Wellington City 2023 Source: Statistics NZ
$100,001 or more $70,001-$100,000 $50,001-$70,000 $30,001-$50,000 $20,001-$30,000 $10,001-$20,000 $10,000 or less 0%
5%
10%
15% Courtenay (%)
20%
25%
30%
Wellington City (%)
35%
40%
Information Memorandum | CBRE
Residential Market According to REINZ, during Q2 2026, the median sale price in Te Aro was $509,000, which was 2.2% lower than the previous quarter but 13.7% lower than the same period last year. Over the last year, the median sale price of residential properties in Wellington City has been approximately $325,000 higher than the median sale price in Te Aro (refer Chart 5). Median sale prices for Te Aro and Wellington City peaked in late 2021, reaching $825,000 and $1.13 million, respectively. In terms of rents, the median market residential rent in Te Aro during most of the second half of 2026 was approximately $520, whereas rents in the surrounding suburbs were higher; being Mount Victoria ($600), Mount Cook ($650), and Kelburn ($665). Chart 5: Residential Property - Median Sale Price – Courtenay and Wellington City Q2 2016 – Q2 2026 Source: REINZ
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
$0
Courtenay
Wellington City
100 Cable Street, Te Aro, Wellington
Sales Process. For Sale by Private Treaty. All offers are to be submitted to the Exclusive Agents on the prescribed form. Electornic Data Room Comprehensive property information is available within the Electronic Data Room accessible via: www.cbreinvest.co.nz/100cablestreet Please contact one of the nominated brokers to arrange access to the Electronic Data Room. The Electronic Data Room contains details of the property including, but not limited to, the following: – LIM – Records of Title – Technical Reports – Lease Documentation – Resource Management – Seismic Documentation – Information Memorandum – Insurance Documentation – Pro-Forma Agreement for Sale and Purchase Please note, new documentation may be uploaded to the Electronic Data Room throughout the campaign. Parties with approved access to the Electronic Data Room will get automatic notifications of any new uploads.
Information Memorandum | CBRE
Disclaimer © 2026 CBRE, Inc. All rights reserved. USE OF THIS INFORMATION MEMORANDUM: This Memorandum is provided for preliminary information purposes to a limited number of parties solely to enable recipients to acquaint themselves with the properties and you are not permitted to use it for any other purpose. It is not, nor is it intended to be, an offer for the properties. It does not purport to contain all of the information a prospective purchaser may require. In all cases, interested parties should conduct their own investigation verification and analysis of the opportunity and the data contained in this Memorandum.
Rick Stace Director 021 338 465 rick.stace@cbre.co.nz
Dharmendra Mistry Director 021 175 0751 dharmendra.mistry@cbre.co.nz
Matthew St Amand Managing Director 021 280 3467 matthew.stamand@cbre.co.nz
CBRE (Agency) Limited, Licensed Real Estate Agent (REAA 2008)
MEMORANDUM NOT AN OFFER: This Memorandum does not constitute an offer of any kind. In particular, this Memorandum is not, and does not contain, an offer of financial products. NO RELIANCE OF STATEMENTS: Any statement or opinion made by CBRE in connection with the transaction contemplated in the IM is not based on any actual or implied knowledge or consideration of the investment objectives, financial situation, legal or taxation position or any other particular needs or requirements of the recipients of this IM. All parties must make their own independent assessment and investigation including without limitation, seeking professional advice, and must determine their interest in proceeding upon the basis of such independent assessment, investigation and advice. Any statement or opinion of CBRE whether express or implied is not, nor should be construed as a recommendation by CBRE or any of its officers, agents, brokers, employees (“Associates”) to participate in the transaction and, to that extent, no reliance will be placed on CBRE or its Associates. INFORMATION: The information set out in this document has been prepared using information derived from a variety of external sources. Neither the Vendor nor CBRE warrants the accuracy of any of the information and does not accept any legal liability or responsibility for any injury, loss or damage of any nature incurred by the use of, or reliance on, or interpretation of the information contained herein. This Memorandum is distributed on the express understanding that none of the information contained herein has been independently verified and no representation or warranty is made, nor any responsibility accepted, by the Vendor or its advisors with respect to the completeness, accuracy or reliability of any information contained in this Memorandum. Further, those parties will have no liability for any statements, opinions, information or matters (express or implied) arising out of, contained in or derived from, or any omissions from, or failure to correct any information in this Memorandum or any other written or oral communications transmitted to the recipient in relation to this opportunity. Interested parties will be afforded the opportunity to undertake an inspection of the properties to satisfy themselves as to, amongst other things, the completeness, accuracy and reliability of the information contained in this Memorandum. NO REPRESENTATIONS AND /OR WARRANTIES GIVEN: Neither the Vendor nor CBRE and its Associates warrant (expressly or impliedly) that information contained in this IM is complete, true and correct and not misleading or not likely to be misleading or deceptive. The Vendor, CBRE and their Associates are not responsible and will not under any circumstances be liable (whether at law, in equity, under statute or otherwise) for any statement made or anything contained in or arising out of the information contained in this IM including, without limitation, any errors, misrepresentation or omissions. No statement or opinion of CBRE or its Associates shall be imputed to the Vendor or its Associates. CBRE disclaims all responsibility for any loss or damage caused by reliance by any person on this IM or any representation, warranty or statement made by or on behalf of CBRE and its Associates.
Contact Us Today For Sale Private Treaty.
Rick Stace Director Metropolitan Investments +64 21 338 465 rick.stace@cbre.co.nz
Dharmendra Mistry Director Metropolitan Investments +64 21 175 0751 dharmendra.mistry@cbre.co.nz Matthew St Amand Managing Director Wellington +64 21 280 3467 matthew.stamand@cbre.co.nz