Immaculate retail investment opportunity in a strategically positioned, modern retail development on SH1, Timaru.
Positioned within the established and highly regarded The Landings retail precinct in Timaru, Unit 5 presents a compelling opportunity to acquire a modern, passive, commercial investment secured by longstanding national branded tenant Pita Pit.
Having occupied the premises since the development’s inception in 2016, Pita Pit has reaffirmed its commitment to the location through a new 10-year lease commencing March 2026. The property currently returns $52,437 per annum net and offers investors the benefit of secure long term cashflow, built-in rental growth provisions, and a further 10-year right of renewal extending the final expiry through to March 2046.
Strategically positioned amongst a strong mix of complementary national brands including Columbus Coffee, Hell Pizza and Burger Fuel, Unit 5 benefits from excellent exposure within the complex together with consistent customer traffic generated by the wider retail offering.
Constructed with low maintenance materials and supported by generous onsite parking, the property is well suited to investors seeking a hands off investment with enduring tenant appeal and long term underlying value.
This offering represents an exceptional opportunity to secure a proven retail investment within one of Timaru’s popular large format retail and hospitality destinations.
For sale by Auction: 10am, Thursday 17 September 2026 (unless sold prior). Auction venue is Colliers Auction Room, Building 1, Level 1, 181 High Street, Central Christchurch, 8011.
*Boundary lines are indicative only.
Features:
- 10 year lease from March 2026
- Established national branded tenant
- Net annual income $52,437 per annum + GST & Outgoings
- One right of renewal of 10 years (final expiry March 2046)
- Quality tenant mix
- Considerable frontage and profile to SH1
- Good onsite parking
- Annual CPI rent reviews
More information: https://www.colliers.co.nz/p-NZL67040586
