17 Murray Terrace, Cromwell, Central Otago, Otago 9310

^Floor 300m²
^Land 490m²

Sold

Future Focused Investment

Colliers have been appointed to sell 17 Murray Terrace in Cromwell. Located within the town centre, the property comprises a 490sqm lot with a commercial building that has a footprint of approximately 300sqm. The building is occupied by two tenants, Coterra and Mayfair Pools. This property has good exposure to both vehicle and foot traffic as it fronts both Murray Terrace and the main Council carpark for the Cromwell Mall.

The building is generally single level with a street frontage of 32 metres to Murray Terrace and a covered storage area and yard utilised by Mayfair Pools. The property is zoned Business Resource Area under the Central Otago District Council District Plan.

The existing building offers the opportunity to generate holding income for a purchaser in the short term, while in the long term, redevelopment of the site will generate a full investment return.

Cromwell is experiencing good community growth with the population projected to grow above the national average going forward. Exciting times lay ahead for Cromwell.

Property highlights:
• Property Rent is $55,900 plus GST & outgoings
• Leases to 2 tenants in place
• Good exposure to passing traffic
• Good long-term redevelopment opportunity

For Sale by Deadline Private Treaty closing 4pm, Thursday 11 April 2024 (unless sold prior).

For more information, site inspection, or dataroom access, please contact agent Steve McIsaac.

*boundary lines are indicative only