Strong cashflow from New Zealand Post
• Leased to New Zealand Post, a Crown-owned state-owned enterprise
• A net rental of $170,080.83 per annum plus GST
• Six-year initial lease term from 1 May 2025
• Outstanding location adjoining The Plaza
378 Church Street sits in the heart of central Palmerston North, adjoining The Plaza shopping centre with fantastic frontage to Church Street.
The tenant is New Zealand Post Limited, a Crown-owned state-owned enterprise running the national postal and parcel network. In the year to 30 June 2026 it reported revenue of over $1.2 billion and the delivery of over 80 million parcels.
Beyond the lease, the value is the very strong location, with broad appeal to retail and service occupiers. Today it delivers secure cash flow from New Zealand Post with growth.
• A net rental of $170,080.83 per annum plus GST
• Six-year initial lease term from 1 May 2025
• Outstanding location adjoining The Plaza
378 Church Street sits in the heart of central Palmerston North, adjoining The Plaza shopping centre with fantastic frontage to Church Street.
The tenant is New Zealand Post Limited, a Crown-owned state-owned enterprise running the national postal and parcel network. In the year to 30 June 2026 it reported revenue of over $1.2 billion and the delivery of over 80 million parcels.
Beyond the lease, the value is the very strong location, with broad appeal to retail and service occupiers. Today it delivers secure cash flow from New Zealand Post with growth.
Key features
Lease
Leased to New Zealand Post, a Crown-owned state-owned enterprise
Passing income
A net rental of $170,080.83 per annum plus GST
Lease term
Six-year initial lease term from 1 May 2025
Location
Outstanding location adjoining The Plaza
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