Colliers is proud to present to the market for sale 243 Broadway Avenue in Palmerston North.
Situated in a well-regarded professional precinct, this property offers strong locational appeal with proximity to cafes, public transport and key city services.
The building is currently 39% NBS, presenting a value-add opportunity for investors or owner-occupiers willing to undertake seismic strengthening. The building sits 6% above the level required for compulsory strengthening.
The ground floor is anchored by Bayley’s, while the first floor is divided into three tenancies, including RR Fisher, with a 236m² and 69m² vacancy offering immediate upside.
With short lease terms in place, the property provides flexibility for repositioning or refurbishment. Key features include a large on-site car park, central location and multi-tenant layout, making it ideal for those seeking a strategic investment with future growth potential for owner operators or investors alike.
For more information on this opportunity, contact the Colliers team today.
(Note: All measurements and specifications are approximate. Boundary lines indicative only).
Features:
- Estimated net income $151,306 per annum (plus GST)
- Land area 890sqm
- Lettable area 883sqm
- Freehold title
- Outer Business zoning
- Seismic status 39% NBS (DSA report prepared by Omega Engineering Consultants Ltd, dated October 2020)
More information: https://www.colliers.co.nz/p-NZL67038732
