- For Sale
$6,500,000 NZDAsking $6,500,000 + GST (if any)
Underpinned by a NZX listed tenant and positioned in a popular development, is this established investment opportunity in a very tightly held location.
Returning $390,008 pa + GST & OPEX, the multi-tenanted freehold unit is currently anchored by the Noel Leeming Clearance Centre until July 2026* and features annual CPI or 2.5% rent increases – whichever is higher. Noel Leeming is a subsidiary of The Warehouse Group – a publicly listed company on the NZX stock exchange. The building has the potential to be split into multiple tenancies in future and and has an upstairs office component which is leased separately, providing multiple income streams.
The high profile 1,883 sqm unit is strategically positioned on Porana Road and offers great exposure and wide road frontage to Porana Road. With ample parking at the front & rear of the site, the development has been very successful and is currently fully occupied by a range of well-known businesses including PB Tech and Hollywood Bakery. A large number of bulk retail, trade retail and industrial users also operate in close proximity in the Wairau Valley precinct and vacancy is very low.
Investments in in this location rarely come to the market for sale - call either of the sole agents today for further information.
Ref #: 20735720