Thorndon tennis club serves an ace investment

The Thorndon Club was founded on this site in 1879 and is the oldest tennis club in NZ.

A soon-to-be subdivided circa 1076-sqm prime parcel of land for sale in Thorndon and currently used as grass tennis courts is anticipating a favourable rezoning to City Centre.

The property is situated on the southwestern side of Katherine Avenue, a quiet cul-de-sac running directly off Fitzherbert Terrace. The site will be of an irregular shape with a small parcel on the southeastern corner of the title removed from the offering to allow the retention of the existing clubrooms and access through to the balance of the site.

The land at Part 4 Katherine Avenue, Thorndon, Wellington is being marketed for sale by Deadline Private Treaty closing Wednesday December 15 at 4pm (unless sold prior) through exclusive agents, CBRE.

The grass tennis courts are part of the Thorndon Tennis and Squash Club facilities. The Thorndon Club was founded on this site in 1879 and is the oldest tennis club in New Zealand. For comparison, the Wimbledon All England Lawn Tennis Club got underway in 1875 and there is a belief that the Thorndon Tennis and Squash Club could be the third oldest club in the world still playing on grass tennis courts.

Dharmendra Mistry, director at CBRE Wellington said: ‘‘The offering presents an incredibly rare opportunity to acquire a prime vacant land parcel located in the heart of Thorndon, Wellington where you’ll also find New Zealand Parliament Buildings, 1800s structures including Old St Paul’s, various Embassies, a great selection of cafes and bars, easy access to the waterfront and Sky Stadium.’’

The property is currently zoned Inner Residential under the operative District Plan for Wellington City allowing for 50 per cent site coverage with an associated height limit of 10 metres above ground level.

Rick Stace, director at CBRE Wellington said that the Draft District Plan (currently out for consultation) would see the property rezoned to City Centre with an associated 27-metre (9-storey) height limit and 100 per cent site coverage.

‘‘This allows for 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,’’ said Stace.

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.

‘‘The property is available with vacant possession and delayed settlement and offers prudent developers an exceptional flat land parcel in the exclusive suburb of Thorndon,’’ said Stace.