Add-value investors, developers and owner-occupiers have the chance to create a new chapter for a character historic building for sale in Auckland’s CBD.

The grand early-1900s façade of the former Gas Company Building on Wyndham Street is a distinctive sight in an area that has spawned numerous new high-rise developments.

Held by its current owners for 20 years, the three-level-plus-basement building is partially tenanted by alternative music scene mainstay Ding Dong Lounge, well-known Japanese grocery store Japan Mart, and an educational occupier of a top-floor office suite.

Encompassing just over half of the total floor area, the leases generate a combined annual net rental return of $312,790 plus outgoings and GST.

The property offers new owners significant add-value possibilities – including redesigning or repurposing the building, leasing or occupying vacant tenancies, and optimising use of the site’s rear access off Durham Lane.

The freehold property at 26-32 Wyndham Street, Auckland Central, is being marketed for sale by Matt Lee and James Chan of Bayleys Auckland Central.

It will be sold by way of an international tender closing on Thursday 19 June, unless sold prior.

The building with a net lettable floor area of approximately 1,911 square metres sits on some 750 square metres of freehold land.

“This CBD character building is poised for new owners to unlock its full potential, with a unique opportunity to revitalise, reimagine and reinvent,” said Lee.

“Constructed circa 1900, its attractive period features and wide street frontage make it a standout presence amid a proliferation of modern towers.

“The site is accessible at the front along Wyndham Street, at the rear off Durham Lane, and via a pedestrian walkway off Albert Street. Consideration must be given for the unique Durham Lane access, which could be repurposed into a ‘New York’-style exclusive back-alley entrance,” Lee said.

The basement, accessed off Wyndham Street and Durham Lane, is tenanted by Ding Dong Lounge, a rock-style bar and nightclub which has been on site since 2012.

The ground floor is accessible via Wyndham Street and Durham Lane. This is home to Japan Mart, part of a nationwide chain of Japanese grocery stores operated by Tokyo Food Company, a substantial importer of retail products with a presence in New Zealand since 1987. Ding Dong Lounge also occupies part of this level.

The building’s first floor previously operated as a bar/nightclub, and is now vacant. The second floor contains six separate office suites, one of which is tenanted, plus common areas including kitchenette and bathrooms.

The current Japan Mart lease runs through to December 2026, while Ding Dong Lounge holds an existing lease and is negotiating a long-term extension. Both leases are subject to clauses enabling the owners to terminate at 12 months’ notice for redevelopment. The office suite is occupied on a month-by-month lease.

The building’s exterior and façade have an Auckland Council heritage category B listing, while the interior is not subject to the heritage provisions. This leaves open the possibility of developing a higher building with additional office or residential accommodation on upper levels, while retaining the character frontage, or extending the existing footprint.

Chan, who heads Bayleys’ Auckland-based international sales division, said new owners’ options were maximised by the site’s position within the Business – City Centre zone under Auckland’s unitary plan.

“This enables the greatest intensity of development and a wide range of uses, with an eye to fostering an international centre for business, learning, innovation, entertainment, culture and urban living.

“The property for sale sits in a precinct that has seen rapid growth and revitalisation in recent years, with the opening of IHG’s Voco Hotel across the road, along with nearby Holiday Inn Express and Hotel Indigo, enhancing the area’s popularity and appeal.

“SkyCity’s New Zealand International Convention Centre will deliver a further lift when it opens in 2026. This unrivalled national facility is tipped to bring in 33,000 new international delegates and contribute $90 million of new economic spend per year,” Chan said.

The site for sale is well-positioned along Wyndham Street, a short walk up from Queen Street and just off the busy intersection of Wyndham and Albert streets. The City Rail Link’s upcoming Aotea/Te Waihorotiu Station will be a few minutes’ walk away.

“By drastically reducing travel times and boosting capacity, the CRL will further boost this area’s convenience for businesses, workers and residents and it is expected to unlock yet more high-density residential capacity and urban renewal,” Chan said.