Listing #:1696318814

Central Otago Commercial Investment

Location: 85-87 Tarbert Street, Alexandra, Central Otago, Otago
Property use: Office
Floor area: 939m2
Land area: 2024m2
Price: To be sold by deadline sale (by 9 Aug)
This is a unique opportunity to secure a solid commercial investment property in Alexandra, leased to a national tenant.

85-87 Tarbert Street is a high-profile regular shape site with good street frontage fully leased to PGG Wrightson, offering investors an excellent location and a high quality tenant covenant.

The single-storey building has a lettable floor area of circa 939sqm, a seismic rating of >95% NBS and was extensively upgraded in early 2018. It includes well-presented open plan and partitioned office space, separate retail area, showroom, warehouse, mezzanine and amenities. There is also a loading area with 300sqm of yard with generous car parking provided on site.

PGG Wrightson holds a new three-year lease from 01 November 2017, with three rights of renewal for a further three years each - giving a final expiry date (if all renewals exercised) of 31 October 2029. The annual contract rental of $108,000 per annum plus GST and outgoings has two-yearly rent reviews.

The property sits on two Freehold titles with a combined area of 2,024sqm on the edge of Alexandra's CBD, on the main arterial route east.

For more information on this quality investment please contact Mark or Rory.

• National Tenant PGG Wrightson
• >95% NBS Seismic Rating
• Two Freehold Titles
• Land Area 2,024sqm
• Floor Area 939sqm
• Wide Street Frontage - Good Profile

Agency reference #: 208911
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Deadline sale
85-87 Tarbert Street, Alexandra, Central Otago, Otago
Deadline sale
Listed: Thu 12 Jul, 10:15 am
Mark Simpson
Otago Realty (NZ) Ltd Queenstown, Licensed Agent (REAA 2008)
  • Contact details
  •  (03) 4410790
  •  (027) 4906394

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Agent's details

Mark Simpson
  •  (03) 4410790
  •  (027) 4906394
Rory O'Donnell
  •  (027) 4453982
Otago Realty (NZ) Ltd Queenstown, Licensed Agent (REAA 2008)
(03) 4410790
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Expires: Thu 6 Sep, 11:19 am
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