Retail units for sale in Newtown heritage building, formerly Langham Private Hotel

Sunday, 3 September 2017

Former Langham Private Hotel, now known as Ashleigh Court Private Hotel, is on the market. This image, supplied by the agents, has been digitally altered to remove trolleybus lines.

The ground floor of a Wellington heritage building which once housed returned World War I soldiers is up for sale.

Originally home to the Langham Private Hotel, the three-storey building is now used for retail and accommodation. The ground floor is leased to an organics store and two cafes, while the upper floors are apartments.

Corner of Riddiford St, left, and Rintoul St, pictured in 1910.

Colliers International broker Tim Bowden said the Edwardian-era neoclassical styling made it one of the most recognisable buildings in Newtown.

'The hotel opened in 1907 and according to council records, that same year the residents of Newtown held a poll and voted that the suburb become a 'dry' area. The hotel therefore was not able to hold a liquor licence.'

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After being used as a hostel for returning soldiers during WWI, it remained a hotel and boarding house until 1990. It was subsequently converted into four apartments.

In 1951, the retail units were upgraded and much of the remainder of the building was renovated in 1974. At this time, it was renamed the Ashleigh Court Private Hotel.

Further refurbishment of the building, on the corner of Rintoul and Riddiford Sts, was completed in 1997. It is a heritage listed building.

The three retail units for sale offered an opportunity to buy a well-located property in the popular retail sector, Bowden said.

The opportunity to develop and add value was expected to attract buyers, he said.

'Several land owners in Newtown have taken the opportunity to redevelop their properties to cater to the area's changing demographic, as the effect of rising house prices takes hold.

'These retail units are a great chance for investors to enter the retail market and perhaps look to refurbish the units to increase the income stream, taking advantage of the prime location.'

In addition, the chance to buy in a fast-changing and developing suburb was expected to appeal to buyers, Bowden said.

'[Newtown] has a thriving commercial centre serving a large residential area, where property values are increasing under the pressure of high demand.

'This means the Newtown commercial centre is now an up-and-coming hot spot in Wellington, with commercial property keenly sought after,' he said.

'Newtown is a thriving suburb because of its proximity to the CBD as well as the hospital being located here. It's traditionally a favourite base for students and young professionals and is now increasingly popular among young families.

'As a result, Newtown has undergone significant development in recent years with many small multi-unit residential developments under way,' Bowden said.