The property comprises a modern, two-storey, department store situated on a large freehold site with three street frontages. This provides the property with an extremely high profile, particularly to the corner of Heretaunga Street West and King Street. This corner features the TSB Bank tenancy with the balance of the substantial 6,689sqm tenancy being occupied by Farmers Department Store.
- 11 year remaining lease term to anchor tenant Farmers
- Current combined estimated net rental of 1.47m + GST per annum
- Modern 2 level retail premises with a total NLA of 6,689 sqm
- High profile corner site
- Exceptional tenant covenants
- Prime CBD location
- Grade A NBS rating
The property commands a strong street presence with near full height glazing to the main road frontages. Internally the property presents very well with the two retail levels linked by escalators up and down and two lifts. In addition to this, the retail premises are services by amenities, offices, lunchroom facilities and back of house storage areas.
The current building was largely constructed in 2011/12 with part of the former facade of the Roach’s Building retained. Farmers lease nine carparks on the site with ample public car parking available on the street fronting the property and at the rear.
DEADLINE PRIVATE TREATY 29TH SEP 2021 4PM (UNLESS SOLD PRIOR)