9 High Street, Rangiora, Canterbury

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 both The Warehouse and Warehouse Stationery businesses trading onsite. 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 Rangiora just 30 minutes from Christchurch’s Central City. The Rangiora township is the business hub of Waimakariri District – one of New Zealand’s fastest growing districts. Rangiora has continued to show excellent growth metrics and the property is ideally positioned to leverage off expanding residential and business development.

The property forms part of an established retail complex housing drawcard occupiers such as Briscoes, Noel Leeming, Supercheap Auto, Animates, Lighting Plus, Black and White Coffee Cartel, Triton Hearing, Modus Health, Pushbikes and Pizza Hut.

The Warehouse has a long history of tenure associated to the site being occupiers for over two decades – expanding onsite and being redeveloped in 2015. Minimal competition has solidified The Warehouse in this location by being the only large-scale discount department store in the Waimakariri District.

Large underlying landholding provides for excellent onsite carparking helping to future proof the asset.

Key Investment Highlights:

- NZX listed anchor – The Warehouse Group

- Limited competition in catchment

- Drawcard surrounding retail complex

- Strong location – expansive trade area catchment

- Large landholding: 1.5ha (approx.) with 151 carparks

- Asset significantly redeveloped in 2015

- Over 20 years of tenure onsite

- Passing annual rental: $996,577 plus GST

Contact the sole agents today for more information.