Heritage investment on Vulcan Lane

An Auckland icon with a story spanning more than 160 years is being offered to the market, presenting investors with a rare opportunity to acquire a fully leased, heritage trophy in the city’s most recognised hospitality and retail laneway, Bayleys brokers say.

Bayleys Auckland Metro senior director Alan Haydock, together with colleague Damien Bullick, is marketing the freehold property at 12 Vulcan Lane for sale by tender, closing at 4:00 pm on Tuesday, 18th November 2025 (unless sold prior).

Constructed around 1858, the four-level building, known as the Queens Ferry Hotel since its inception, is believed to be one of the oldest continuously licensed premises in the country.

The property occupies 118sqm (more or less) of freehold land plus a one-ninth share of a rear laneway, combining to deliver 297sqm (more or less) of lettable area. It sits within Auckland’s Business – City Centre zone, just metres from Queen Street, Commercial Bay, and Britomart – at the epicentre of the CBD’s revitalisation.

Haydock says that having undergone a series of tasteful refurbishments, the property now combines heritage architecture with enduring commercial appeal, generating diversified income across hospitality and office uses.

“Returning $264,000 net pa plus GST, the investment is anchored by a 12-year lease to a street-level hospitality venue, operating as the Queens Ferry Bar and Restaurant. The lease provides for fixed annual rental increases of 2.5 percent and renewal options extending to 2047, offering investors a stable, inflation-linked income stream backed by a blue-chip location.”

The premises’ façade remains among the CBD’s most recognisable, with ornate nineteenth-century detailing contributing to a streetscape long celebrated for its character and cultural vibrancy.

Bullick says the building holds architectural significance as a rare surviving Victorian-era brick ‘row’ public house and historical value for its association with the 1881 Licensing Act, which spurred the addition of its ornate frontage and other period features.

“It is a registered Historic Place, with its continuous operation as a licensed premises underscoring its social and cultural importance within the city’s evolution.”

Over its lifetime, the property has played host to generations of Aucklanders, and to many of the country’s literary greats, including James K. Baxter, Frank Sargeson, Rex Fairburn and Bob Lowry.

Bayleys Auckland Metro director Damien Bullick says the building’s layered history enhances its credentials for modern investors.

“The asset will appeal to investors seeking authenticity - premises which tell a story while performing commercially. The Queens Ferry exemplifies that balance, being a piece of living history generating a robust, diversified income,” he says.

“Vulcan Lane has continued to perform as an atmospheric hospitality destination in the central city, particularly with long-term prospects for the CBD’s regeneration appearing bright. Heritage places, including the Queens Ferry, are now commanding renewed attention as anchors of the city’s cultural and commercial heart, which cannot be replicated.

“Blending an inimitable history, proven rental income today, and strategic postponing for tomorrow, the property represents a rare opportunity to own a cornerstone of Auckland’s social history - still thriving at the centre of its modern economy.”