The subject property represents a fantastic opportunity to purchase a low maintenance prominent property on King Edward Street, South Dunedin's main street.
The property sits in a prime central position on King Edward Street, South Dunedin, surrounded by a number of well recognised businesses including ANZ, NZ Post, Westpac, and in close proximity to Pak n Save, The Warehouse, the new South Dunedin library, and much more. The property also sits in close proximity to Hillside Road, Andersons Bay Road, and State Highway 1 (The Motorway). The surrounding area has recently seen some significant redevelopment.
There are 2 commercial tenancies included with the property, BNZ and Specsavers. The BNZ building was a new build for the bank at the start of their lease in 2009 (approx), and Specsavers recently completed a significant fit-out. Also, prior to this, the building was substantially renovated and upgraded around 2012.
BNZ has recently agreed to enter a new 6-year lease from February 2027, plus rights of renewal. The total annual rental for the 2 tenancies is to increase to $155,760pa plus GST (as at February 2027).
Property highlights:
- Freehold land area of 961m² (more or less)
- WALT approx 6.29 years (as at Mar-2026)
- Two national tenants on long-term leases
- Excellent on-site parking (15 carparks approx.)
- Built-in annual rental growth
- Rental committed to as of Feb-27: $155,760pa plus GST (approx)
This freehold offering is offered for sale at an asking price of $2,290,000 plus GST (if any).
Contact the nominated broker for more information or to view.
