328 Church Street, City Centre, Palmerston North, Manawatu / Whanganui

Positioned in the heart of Palmerston North’s central business district, 328 Church Street presents an outstanding opportunity to acquire a high-quality office investment underpinned by a diverse and established tenant profile. This modern commercial property is fully leased to a mix of Government, national, and local organisations, providing investors with a strong and resilient income stream from a well-located asset.

Occupying a substantial 2,484sqm landholding and offering 1,427sqm of office accommodation, the property is strategically located within easy walking distance of The Square and the city’s key amenities. The building is tenanted by respected organisations including the New Zealand Nurses Organisation, Oranga Tamariki, Spark Business Hub and PAK Design, delivering a diversified tenancy mix with proven covenant strength.

The property benefits from 27 on-site car parks, an increasingly valuable feature within the city centre, enhancing convenience for tenants and supporting long-term occupancy. Investors will also take confidence from the building’s seismic performance, reported at between 70% and 100% of New Building Standard, together with its modern presentation and established leasing profile.

Returning an estimated net rental of approximately $456,558 per annum, this is a compelling passive investment opportunity offering secure cashflow from a fully occupied commercial asset in one of Palmerston North’s most sought-after office precincts.

A rare opportunity to secure a premium commercial investment with strong fundamentals, diversified income and long-term appeal in the Palmerston North office market.

Contact the Colliers team today for further information or to inspect the property.

(Note: All measurements and specifications are approximate. Boundary lines indicative only).

Features:

• Fully tenanted multi-level office investment
• Diverse tenant profile
• Land area of 2,484 sqm
• Floor area of 1,427 sqm
• 27 on-site car parks
• Seismic status between 70% and 100% NBS (seismic review letter by Duckett Architecture dated 11 February 2020)

More information: https://www.colliers.co.nz/p-NZL67041184