Landmark capital building seeks new future

One of Wellington’s most distinguished heritage buildings is for sale, giving buyers the opportunity to secure and potentially reshape a landmark asset that has anchored the city’s streetscape for a century.

The five storey neo-Georgian building at 2 to 8 Maginnity Street, was long home to the Wellesley Club and is known today as the Wellesley Boutique Hotel.

Built in 1927 to a design by architect W. Gray Young, whose work includes Wellington Railway Station, the building earned the NZIA Gold Medal in 1932 and is recognised as one of the country’s finest examples of Georgian Revival architecture. Its brick and rendered concrete façade, balustraded balcony and dormer windows have defined the Maginnity and Ballance Street corner for generations, contributing to the character of the Stout Street Heritage Area and the wider Government Centre Historic Area.

Inside, the building was originally configured along the traditional English gentlemen’s club model, with purpose-built rooms for billiards, cards, reading, dining and socialising, supported by bars, lounges and service areas. Bedrooms on the upper storey allowed the club to operate as a residential facility for members, creating a diversified hospitality offer that was well ahead of its time.

The building closed for refurbishment in the mid-1990s and reopened in late 1997 as the Wellesley Boutique Hotel, with the Wellesley Club continuing to use the facilities. Ownership changed again in 2009, when the property became the new home of Westminster Freemasons Lodge. The Wellesley Club vacated in 2014 due to declining membership, but the Wellesley Boutique Hotel and its bar, restaurant and café have continued to operate, maintaining a steady hospitality presence in the CBD.

Remaining one of the country’s finest examples of a traditional club facility, the property also stands as a particularly strong example of Gray Young’s work in the Georgian style, combining architectural pedigree with a layout that lends itself to repositioning.

The building retains extensive oak and rimu panelling, mosaic tiling and its original staircase, giving incoming owners a high value heritage framework that can be adapted to modern accommodation and hospitality uses. The former billiard room, dining spaces and lodge rooms sit alongside 13 existing boutique hotel suites and the established CornerCopia café and retail outlet, creating a mix of spaces that can be reconfigured to lift key count, expand food and beverage operations or introduce new revenue lines.

With no leases in place, the property is offered with vacant possession as a going concern. It is for sale by tender closing Wednesday 21 October, through Fraser Press and Luke Kershaw of Bayleys Wellington Commercial.

The levels historically used for club activities and lodge meetings offer immediate potential for additional guest rooms, while the ground floor hospitality footprint provides scope for a refreshed commercial offer aligned to CBD demand, says Press.

“It’s a grand old lady of a building and we want to open up the conversation with people about its future and potential,” he says. “There are very few Wellington properties with this level of architectural pedigree and cultural significance, and it is part of the city’s story.”

A seismic strengthening pathway has been identified for the property. “Heritage buildings require thoughtful and well-planned strengthening, but there’s reward in preserving a piece of Wellington’s identity while unlocking long term commercial value,” Press says.

“This is a building that calls for an owner who understands the value of heritage assets. Someone who can see the commercial potential in a property with this level of character and history.”

The property is close to Parliament, Lambton Quay, the Railway Station and the legal precinct, and sits at the centre of Wellington’s government and corporate district.