Eastgate Shopping Centre is a key suburban shopping centre with a diverse mix of more than 45 tenants anchored by retail heavyweights Woolworths, The Warehouse and Warehouse Stationery as well as two stand-alone drive-through operations, KFC and Taco Bell.
With around 950metres of road frontage to four streets including main arterial routes Buckleys Road and Linwood Avenue, the centre is a landmark presence with daily exposure to an estimated 46,000 passing vehicles. Benefitting from parking for 1,100 vehicles and multiple entry points assures shoppers of convenient access within a ten minute drive of the city.
Anchor tenant Woolworths (formerly Countdown) is New Zealand's largest supermarket brand with over 185 supermarkets nationwide serving 2.5million customers each week and parent company The Woolworths Group is listed on the Australian Stock Exchange as one of Australia's biggest retailers. Additionally, The Warehouse is a subsidiary of NZX-listed The Warehouse Group which is one of New Zealand's largest retail groups with $3billion in sales and some 12,000 employees.
Underpinned by the calibre and diversity of tenants, Eastgate Shopping Centre's gross lettable area of 27,423sqm sits at around 97% occupancy with formidable brands KFC and Taco Bell strategically located on the sites periphery.
The large underlying freehold site of 66,989sqm (more or less) is considered under-utilised, with significant potential for future commercial, residential or mixed-use redevelopment in line with the on-going regentrification of Linwood and the surrounding areas with a fresh wave of first-home buyers and young professionals driving demand in the surrounding neighbourhoods.
To be sold by way of Deadline Private Treaty (unless sold prior) at 4pm on Thursday 24th October 2024 at Bayleys, 3 Deans Avenue, Addington, Christchurch.
