Woolworths Spotswood - 7.3% net yield
Key features:
• General Distributors Limited (t/a Woolworths) leased until April 2035 with renewal options
• Potential future turnover rent upside, including portion of online sales
• Prominent site on major arterial corner in Spotswood
• Modern supermarket with recent upgrades and a new extension
Woolworths, one of New Zealand's most trusted retail brands, anchors this premium supermarket investment under a new 10-year lease through to 2035, with renewal rights until 2070. The property returns an estimated net passing income of $1,184,311pa, equating to a circa 7.3% estimated net yield at the asking price of $16,200,000 + GST (if any).
Located in the growing suburb of Spotswood, just 4km southwest of New Plymouth CBD, the property sits prominently on the corner of Manadon Street and South Road (SH45) - a key arterial route. The site benefits from excellent access, high visibility, and proximity to key community amenities. With a high-spec, recently refurbished supermarket, this is a strategic landholding underpinned by long-term tenant commitment.
Mike Houlker
021 945 927
mike.houlker@bayleys.co.nz
Sunil Bhana
021 938 660
sunil.bhana@bayleys.co.nz
Iain Taylor
021 473 253
iain.taylor@bayleys.co.nz
Charlie Tudehope
027 845 4617
charlie.tudehope@bayleys.co.nz
• General Distributors Limited (t/a Woolworths) leased until April 2035 with renewal options
• Potential future turnover rent upside, including portion of online sales
• Prominent site on major arterial corner in Spotswood
• Modern supermarket with recent upgrades and a new extension
Woolworths, one of New Zealand's most trusted retail brands, anchors this premium supermarket investment under a new 10-year lease through to 2035, with renewal rights until 2070. The property returns an estimated net passing income of $1,184,311pa, equating to a circa 7.3% estimated net yield at the asking price of $16,200,000 + GST (if any).
Located in the growing suburb of Spotswood, just 4km southwest of New Plymouth CBD, the property sits prominently on the corner of Manadon Street and South Road (SH45) - a key arterial route. The site benefits from excellent access, high visibility, and proximity to key community amenities. With a high-spec, recently refurbished supermarket, this is a strategic landholding underpinned by long-term tenant commitment.
Mike Houlker
021 945 927
mike.houlker@bayleys.co.nz
Sunil Bhana
021 938 660
sunil.bhana@bayleys.co.nz
Iain Taylor
021 473 253
iain.taylor@bayleys.co.nz
Charlie Tudehope
027 845 4617
charlie.tudehope@bayleys.co.nz
Key features
Occupancy
General Distributors Limited (Woolworths)
Passing income
Base rent of $1,235,000pa
Motorway access
Strong profile to main arterial route South Road (State Highway 45)
Parking
164 customer car parks
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