Property offers prime opportunity in Te Rapa
Colliers International New Zealand Ltd has been appointed to market the sale of 11-19 Karewa Place Hamilton, a prime location which boasts an international tenant with a long-term lease.
The property, occupied by Kmart, is a 1.59ha freehold site with a frontage of about 150m to Te Rapa Rd, with the building set to the rear of the site and a sealed and landscaped parking area positioned at the front.
Access to the site is via easements through the Countdown site, which is situated alongside it, and rear access from Karewa Place.
Built by Foster Construction in 2014, the building is a tilt-slab construction specified to the new-generation Kmart brief.
The property is located adjacent to The Base Shopping Centre in central Te Rapa, approximately 7km from the Hamilton CBD. Other near neighbours include Countdown, Mitre 10 Mega, Big Save Furniture and Super Cheap Autos.
‘‘Easily accessed from all parts of Hamilton via the city ring-road system, the location enjoys the benefits of very high traffic volumes and a great profile which underpin this fantastic opportunity at the gateway to Hamilton city from Auckland,’’ says Alan Pracy, who is marketing the property.
The property is to be sold subject to a lease term of 12 years from 2014 with further rights of renewal; tenant Coles Group New Zealand Holdings Ltd T/A Kmart. For further information contact Mark Brunton, who is also marketing the property.
Kmart, which tenants the building, opened New Zealand’s first discount department store in Henderson, Auckland in 1988.
‘‘Today, Kmart delivers irresistibly low prices through more than 200 stores across Australia and New Zealand,’’ says Brunton. ‘‘They work hard to ensure you get the lowest prices possible on the items you and your family need every day.’’