A unique investment opportunity has emerged in the heart of Richmond, Nelson. Two high-profile commercial properties are poised to deliver steady returns and redevelopment potential amid growing interest in regional assets.
The 4,379sqm (more or less) freehold land parcel at 2-4 Champion Road is situated on a key roundabout with Salisbury Road, occupying a strategically significant site with excellent visibility and customer accessibility.
Bayleys Nelson salesperson Gill Ireland says recent local investment, including a new Countdown supermarket and Caltex petrol station directly adjacent to the subject property, point to significant growth opportunities in the rapidly developing area.
“With a surge in residential development in Richmond and Brightwater, along with high visibility from the heavy traffic off State Highway 6, this site represents a premier acquisition opportunity with an attractive blend of investment fundamentals including versatile scope, a prime location, and potential to increase income from add-value works.
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“Featuring a mix of tenanted and vacant commercial spaces, these properties offer flexible options for investors, owner-occupiers and developers, ready to capitalise on the precinct’s growth potential.”
Ireland is marketing the opportunity to purchase the properties together as one, or as two separate titles by deadline, closing at 2:00 pm on Thursday, 14th November 2024 (unless sold prior) with Bayleys colleague Kaitlyn Turner.
The property at 2 Champion Road features a versatile layout comprising approximately 99sqm of indoor and outdoor café floor, 165sqm of retail area and eight car parks tenanted by popular eatery Zink Café, which enjoys a strong local customer base.
Turner says that the property at 4 Champion Road is available with vacant possession from November 10.
“The expansive building provides versatile options for owner-occupiers and those with add-value vision.
"It includes a large retail space, extensive food and cool storage areas, along with additional staff facilities on the mezzanine level.”
“It features approximately 1,834sqm (more or less) of total floor area and 42 car parks, providing a significant opportunity for occupation, lease or redevelopment,” she says.
“Flexible purchase options allow buyers to maintain the income from the tenanted property while exploring redevelopment opportunities with the vacant site.
Both properties are zoned Nelson City Council – Industrial, which provides scope for expansion or enhancement keeping with the immediate locale’s thriving businesses and amenities.
“The precinct has become a busy commercial hub, being one of the key arterial routes between the Nelson and Tasman regions and is well-positioned to capture high customer traffic whilst catering to various commercial requirements.
“Richmond is a rapidly growing area with promising projections for retail demand over the next decade.
"Investors and developers are keenly aware of the opportunities here, as evidenced by substantial local investments such as the commercial development at Berryfields Crossing and expanding residential communities in the immediate area.
“As this local growth continues, the demand for strategically located commercial space is expected to increase, and this property, with its dominant corner site, provides an exceptional opportunity for those looking to invest in the future of Richmond.”
- Supplied by Bayleys
