NPD are here for the long haul, and as such have secured a new 15 year initial lease term plus rights of renewal to push their total potential lease out to 50 years.
This prime investment opportunity is superbly positioned on the corner juncture of the high traffic-flow arterial routes of Redwood Street and Alabama Road in the sought-after Blenheim suburb of Redwoodtown. Located just down the road from Mitre10 Mega and Woolworths, Alabama Road is utilized as one of the main thoroughfares for traffic linking State Highway 1 west to the Nelson district or south towards the Lewis Pass.
The rectangular freehold title of 2,432sqm features approximately 55m street frontage to Alabama and 35m to Redwood Street. The multiple access points ensure customers from every direction have ease of egress. A former warehouse facility was demolished in 2016 to make way for this impressive, modern full-service NPD which opened its doors around the start of 2018.
With one of the most highly-sought retail offerings in the industry, customers come from wide and far for NPD’s impressive food and beverage offering, as well as their competitively priced fuel. The Redwood store is one of the highest performing in this region and is a real trophy for any astute investor looking for passive income with regular rental increases.
For sale by Deadline Private Treaty closing 4pm, Thursday 31 July 2025 (unless sold prior).
*Boundary lines are indicative only.
Features:
- Freehold site: 2432sqm
- Huge corner profile
- Fifteen year lease
- Annual rental $237,600 + OPEX + GST
- Across from Mitre10 Mega
- Security of national tenant
- Constructed 2018
- Fixed rental growth
More information: https://www.colliers.co.nz/p-NZL67035013
