2,300sqm
floor area
3,315sqm
land area
Big box | retail tenants |
Income | $400,000 net income + GST and OPEX |
Long lease term | just under 12 years lease term remaining |
NBS | rating of 90% |
Bayleys Canterbury is pleased to bring to the market an outstanding investment opportunity, with the security of a long lease term with big box retailers.
Key features:
• Returning a net income of $400,000pa + GST and outgoings
• Just under 12 years remaining on the lease
• Current tenant Briscoes, with lease expiring 31 October 2024
• Incoming tenant Smiths City, with lease commencing 1 November 2024 with a ten year lease
• 90% NBS
The property is sold with just under two years remaining with Briscoes, expiring 31 October 2024. The incoming tenant Smiths City has committed to a new ten year lease commencing 1 November 2024. This is a fantastic top drawer investment opportunity. The owners are committed to a sale.
Built in 1985 on 3,315sqm (more or less) of commercial zoned land, originally as a supermarket, it is ideally set up as a retail destination.
Sitting on prime street frontage along State Highway 1, the main arterial through Timaru City, with heavy traffic flow and an ideal location to attract shoppers in a highly visible site. There is ample parking as well as easy flow for delivery and trade vehicles. Nearby amenities and complementary businesses include fast food chains, a large Pak n Save supermarket and other smaller retailers. This site is also well positioned between the Timaru CBD and large retail developments under construction.
This offers a sound investment in the strong South Canterbury economy. Please contact the sole agents for further information or follow this link to view the property files https://www.propertyfiles.co.nz/5519870.
Licensed under the REA Act 2008
Mobile: +64 27 271 1641 |
Office: +64 3 375 4700 |
ryan.kerr@bayleys.co.nz |
Licensed under the REA Act 2008
Mobile: +64 21 177 2390 |
Office: +64 3 687 1227 |
jessica.frewen@bayleys.co.nz |
Licensed under the REA Act 2008
Mobile: +64 27 474 7981 |
Office: +64 3 375 4700 |
william.wallace@bayleys.co.nz |
2,300sqm
floor area
3,315sqm
land area
Big box | retail tenants |
Income | $400,000 net income + GST and OPEX |
Long lease term | just under 12 years lease term remaining |
NBS | rating of 90% |
77 Evans Street, Timaru
Open in mapLicensed under the REA Act 2008
Mobile: +64 27 271 1641 |
Office: +64 3 375 4700 |
ryan.kerr@bayleys.co.nz |
Licensed under the REA Act 2008
Mobile: +64 21 177 2390 |
Office: +64 3 687 1227 |
jessica.frewen@bayleys.co.nz |
Licensed under the REA Act 2008
Mobile: +64 27 474 7981 |
Office: +64 3 375 4700 |
william.wallace@bayleys.co.nz |
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