The Farmers Building on Stafford Street, Timaru, presents a unique opportunity to secure a substantial and historically significant property in the heart of the CBD.
Originally constructed in 1902 for a drapery business, the building has undergone multiple stages of expansion and structural enhancement over more than a century, evolving into the prominent commercial property it is today.
The first major expansion took place in 1926 with the addition of a substantial two storey rear extension. This was followed by significant alterations in the 1940s, including the integration of a smaller triangular building to the north and the introduction of reinforced concrete columns to the front façade. During this time, many internal timber columns were replaced with steel framing, increasing usable space and improving the building’s structural strength. Further enhancements were made in the 1950s, when the 1926 masonry extension was replaced with a reinforced concrete structure. In the late 1960s, another extension added reinforced blockwork walls, steel columns, and a lightweight roof system to the rear, further increasing the building’s commercial utility.
In 1997, a three storey triangular shaped extension was constructed to the north and rear, complementing the existing structure and expanding its capacity. Additional strengthening was also carried out to the front façade at this time. These staged upgrades reflect a clear history of ongoing investment and adaptation, aligning the property with evolving commercial needs and building standards over time.
Adding further value to the site is the Link Building, completed in 2009 to create a seamless connection between the existing retail areas and the multi storey car park above. Strategically located beneath a section of the Sophia Street car park, which was completed around 2011, the Link Building enhances the functionality and accessibility of the entire complex.
The interior of the Link Building is designed with a modern open plan layout, guiding foot traffic efficiently from the Sophia Street car park through to the Stafford Street frontage. Centrally located escalators and lift access create excellent pedestrian flow and connectivity, supporting both retail activity and customer convenience.
Together, the Farmers Building and the Link Building form a compelling investment opportunity, combining heritage character, modern connectivity, and excellent structural performance in a high profile central Timaru location.
The property is offered for sale by Deadline Private Treaty closing 4pm, Wednesday 26 November 2025 (unless sold prior).
*Boundary lines are indicative only
Features:
- 100% occupied to Farmers
- Floor Area 5,893m2 (more or less)
- Character façade with excellent street appeal
- Current net income of $1,170,140 + GST p.a
- Council owned car park building that interlinks with the subject property
- New 5 year lease from March 2025
- Mix of CPI and market reviews
More information: https://www.colliers.co.nz/p-NZL67037034
