This is a significant investment property located on a high profile site on the corner of Fitzherbert Avenue and The Square in the heart of the Palmerston North CBD. This landmark office building was erected in the 1970's and has been fully refurbished including seismic strengthening.
There is a good mix of uses including hotel, office, retail, signage and carparking providing an excellent spread of risk across differing property sectors. The building has been exceptionally well maintained and provides a high standard of accommodation in a sought after position just a few doors down from The Plaza, Palmerston North's extensive inner city retail mall.
Anchored by a 20 year hotel lease, this property would suit long term passive investors. Our motivated vendors are keen to meet the market after a long period of ownership, this is a must to inspect.
To obtain a copy of all supplementary documents please register your interest at https://www.propertyfiles.co.nz/property/66thesquare
• Landmark nine-level mixed-use building with new 20 year hotel lease
• Strengthened and refurbished building with good leasing history
• Prime corner in the heart of the Palmerston North CBD
• Passing rental circa $701,934 pa + GST with significant upside
