‘Off the rack’ in Feilding

5:00 AM Saturday July 22, 2017 True Commercial

The land and buildings housing Feilding branch of Postie Plus are for sale. Photo / Supplied

The land and buildings housing a regional outlet for one of New Zealand’s largest fashion chain retailers has been placed on the market for sale.

The Feilding branch of Postie Plus, at 161 Kimbolton Rd in the Manawatu township, is a single storey 492sq m premises sitting on 922sq m of freehold land – which comes with nine on-site car parks.

International retailing giant Pepkor, with retailing operations in 15 countries, has owned Postie Plus since 2014. In New Zealand, Postie Plus now has 65 physical stores nationwide plus a webstore offering quality women’s fashion, childrenswear, menswear, underwear and health and beauty products.

The Feilding property is being marketed for sale by private treaty, with offers being taken until August 3 through Bayleys Palmerston North and features in Bayleys’ latest Total Property portfolio magazine.

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The Manawatu branch is one of the brand’s top 10 performing stores in NZ. Photo / Supplied

Palmerston North salesperson Lewis Townshend said the conveniently located retail property was built in 2011 and had been continuously occupied by Postie Plus over the intervening years.

Postie Plus is on a lease running through until 2020 generating annual net rental of $84,000. The Feilding branch is one of the brand’s top 10 performing stores in New Zealand. The next nearest Postie Plus outlet is in Palmerston North.

The Kimbolton Rd property is situated in Feilding’s bulk retail hub with neighbouring tenants including The Warehouse, Resene Colour Shop and Countdown supermarket.

Townshend says the quality of the building, combined with the reputation of the tenant, make the property an ideal investment opportunity.