- Superb high profile site
- Split-risk asset with 11 tenancies
- Strong income earner and cashflow
- Substantial arcade complex with on-site parking
- Profile 1,452sqm CBD site with 1,500sqm building
- Annual net rental $149,456 + GST/Potential to be $185,396 + GST
The property comprises a part two-level arcade complex known as Palmer Court. The ground floor includes nine separate office/retail tenancies and the upper level has been partitioned to provide two office suites. Currently Shop 4 is vacant and the lease for Shop 1 expires 31st July 2020.
The building occupies a prime corner block towards the eastern end of Jellicoe Street which is the principal retail strip in the township. The site enjoys expansive frontages to Jellicoe Street, Palmer Lane and Commerce Lane.
The "Kiwifruit Capital of the World" and the horticultural hub of the eastern Bay of Plenty region, Te Puke is a thriving rural service town that is a major centre for New Zealand's billion dollar kiwifruit industry.
Given the strength of the multi-tenant income streams and potential rental upside, this arcade complex must appeal to add value investors looking for an attractive provincial return on investment!
42-46 Jellicoe Street, Te PukeOpen in map