ICONIC PALMERSTON NORTH TROPHY INVESTMENT

42-60 Broadway Avenue, Palmerston North

Investment / Retail For Sale

Tender closing Thursday 6 Jun 2019 at 16:00 (unless sold prior by private treaty)     Tenanted Investment
Land Area: 5,990.00 m2.    Floor Area: 7,738.00 m2.    

Downtown On Broadway

Description

Downtown on Broadway is a vibrant retail centre comprising a mixture of International, National and local businesses. 

Three major tenants, Cotton On, Health Hub Project and New Zealand's first modern Multiplex Cinema operated by Australasia's largest cinema brand, Events Cinema are very well known anchor tenants. Along with this an eatery comprising of eight (8) separate stores which guarantee the centre as a significant destination. 

Located effectively with access from Broadway Avenue and Main Street. 

In addition is a covered multi-story public car park building linked to the shopping centre and cinema complex which has 257 car parks. This all includes a modern operating system with automatic barrier arms and pay machines. Approximately 40% of the car parks are leased and the balance are for casual users. 

For Sale by Tender closing Thursday 6 June 2019 at 4pm (unless sold prior by private treaty). 

 

Features

  • Future proofed tenancy mix
  • Net rental $1,326,650 pa
  • International and National retailers
  • Recent major refurbishment
  • Good prospects for rental growth
  • Integrated car parking building

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