Colliers presents NPD Lower Queen Street, 415 Lower Queen Street, Richmond, to the market for sale.
Richmond West’s growth is unmatched in the rapidly evolving Tasman region, making it a prime location for investment.
This recently built tier-1 NPD site is one of the jewels in the crown of this now dominant national fuel supplier.
Providing the investor with the security of a genuinely passive - annual return of $327,000 which is underpinned by a 15-year lease with excellent rental growth. 415 Lower Queen Street is a strategically positioned 4,000 sq m site benefiting from a recent surge in demand for services and consistent traffic flow as the main artery to approximately 1,200 recently built homes, established rural communities, and both established and developing commercial precincts.
NPD is an industry leading tenant with a demonstrated ability in adapting services to meet customer needs exhibited in this bustling flagship site renowned for its busy forecourt and popular dine-in and takeaway offerings.
The neighbouring Berryfields Crossing is a vibrant community hub featuring a luxury cinema, dining precinct and early childhood centre. Stage 2 plans for an additional 1000 sq m of office, retail, gym etc. which will only further service demand.
The Ministry of Education has purchased three hectares for school development nearby and retail spend in the core catchment is already at $276 million annually - this high-growth area is projected to see retail demand rise to $352 million by 2038.
Investments of this ilk are seldomly available in Tasman - this opportunity should not be missed by any investor seeking sustained financial development.
For sale by Price by Negotiation.
*Boundary lines are indicative only.
Features:
* Large freehold site 4,000 sq m
* Popular location
* New fifteen year lease
* Annual rental $327,000 + Outgoings + GST
* NPD operating over 50 years
* Fixed annual rental increases
* High profile
* Prime land holding
