CBRE, as the exclusive agency, is pleased to offer for sale a large format retail asset with strong investment fundamentals. NZX Listed blue chip occupier – The Warehouse Group underpins cashflow security with The Warehouse. Discount retailers such as The Warehouse provide a strong consumer offering in times of high inflation with low cost alternatives – somewhat offsetting downcycle tenant risk for investors.
Located in a vast trade area catchment, the asset is strategically positioned in Alexandra just 30 minutes from Cromwell, an hour from Wanaka and an hour and twenty minutes from Queenstown (the nearest Warehouse). The Alexandra township is the business hub for the Central Otago District – which is a growing district. Originally established as a gold mining town, now its underpinned by orchardist’s and viticulture.
The property is located just off State Highway 8 at the entrance to the town’s commercial precinct. It’s prominent location has great profile from the highway and is a destination for shoppers in Alexandra.
The Warehouse has a long history of tenure associated to the site being occupiers for nearly two decades. Minimal competition has solidified The Warehouse in this location by being the only large-scale discount department store in the Central Otago District. The closest existing store being in Queenstown (approximately 1hr 20min away).
Key Investment Highlights:
- NZX listed anchor – The Warehouse Group
- Strong location – expansive trade area catchment
- Limited competition in catchment
- High profile site
- 120 carparks with building (by way of covenant)
- Modern building
- Long-term tenure onsite
- Contract rental: $415,250 + GST (gross)
- Net rental: $364,231.30 (based on FY23 OPEX of $51,018.70)
All correspondence or requests for information should be directed to the CBRE team.
街道地址 | 距离 | 房间数 | 浴室数 | 建筑面积 | 售出时间 | 售出价格 | 数据来源 | |
---|---|---|---|---|---|---|---|---|
0.08 km | 870m2 | 2024年02月13日 | $767,500 | Council approved | ||||
0.43 km | 3 | 2 | 220m2 | 2023年11月23日 | $844,000 | Council approved | ||
0.45 km | 3 | 2 | 270m2 | 2023年11月15日 | $760,000 | Council approved | ||
0.50 km | 2 | 1 | 100m2 | 2023年11月15日 | $520,000 | Council approved | ||
0.60 km | 5 | 2 | 250m2 | 2023年10月31日 | $912,000 | Agent claimed |