Downtown Complex in Palmerston North

FOR SALE

Deadline Private Treaty 18th May 2023 15:00:00 (Unless sold prior)
Colliers are proud to exclusively offer to the market for sale the Downtown Shopping Centre at 42-60 Broadway Avenue and 491-499 Main Street in Palmerston North.

Downtown is a thriving regional shopping centre that is approximately 96% leased with a mix of international, national and local businesses anchored by Event Cinema, Cotton On, Timezone and the Health Hub.

Occupying a 5,990sqm (more or less) site with approximately 60m of frontage to Broadway Avenue and 43m to Main Street, Downtown is a dominant presence in the Palmerston North retail landscape.

Downtown has 21 tenancies comprising a 10-theatre cinema, health hub, 10 traditional retail shops and 9 outlets in the foodcourt.

In addition is an adjoining 4-level, 257 car park building to give a combined total lettable area of 7,837sqm (more or less) that has been architecturally designed to a very high standard providing a pleasant retail and social experience for shoppers and tenants alike.

The property’s diverse tenant mix currently returns an estimated net income of $1,117,421 per annum.

The property is For Sale by Deadline closing Thursday 18 May 2023 at 3pm (unless sold prior).

Call the Colliers team today for further information.