This is an opportunity to acquire a single tenanted industrial investment located within Timaru’s well-established Washdyke industrial precinct – the primary industrial hub servicing the South Canterbury region.
The property is leased to Ritchies Transport Holdings Limited, one of New Zealand’s largest passenger transport operators providing public transport, school transport and charter services nationwide.
The tenant has negotiated an extended lease term, securing occupation through to 31 May 2034 and providing investors with long-term income certainty.
Following the most recent market rent review and negotiation on improvements on the site, the rental will increase to $105,000 plus GST from 1st June 2026 (Proposed settlement date)
The property operates as a bus depot, workshop and office facility supporting the tenant’s regional transport operations.
Interested parties are encouraged to contact the sole agent to register their interest and obtain access to the due diligence documentation.
Inspections are strictly by appointment with the sole agent.
The property is offered for sale by Deadline Private Treaty closing: 4pm, Wednesday 22 April 2026 (unless sold prior).
Boundary lines indicative only.
Features:
- National tenant – Ritchies Transport Holdings Limited
- Long lease secured through to 31 May 2034
- Tenant has exercised both renewal options
- Net income upon settlement - $105,000 + GST + OPEX.
- Functional transport depot / workshop industrial property
- Located within the established Washdyke industrial precinct
- Excellent connectivity to State Highway 1
- Strategic South Canterbury logistics location
More information: https://www.colliers.co.nz/p-NZL67039201
