Palmerston North high-profile corner site
The land and buildings houses one of Palmerston North’s biggest car yards and an adjoining bar. Photo / Supplied
Land and buildings housing one of Palmerston North’s biggest car yards and an adjoining bar have been placed on the market for sale.
Tenants occupying the property benefit from its high-profile corner, says Dave Looney of Bayleys, who is marketing 201-203 John F Kennedy Drive for sale by auction at 2pm on Wednesday June 28.
The 7454sq m of commercially-zoned land and 2440sq m of building space accommodates the outdoor display area and under-cover auction warehouse for NZX-listed car dealership Turners Cars; along with The Workshop licensed hospitality venue which is accessed from around the corner on Fairs Rd.
Looney says the property generates a combined annual rental revenue of $246,829 plus GST from the two tenancies.
“Turners has occupied the site for 19-years and has recently renewed its tenancy for a further nine years,” he says. “Significant refurbishment work has also been recently undertaken on the building.”
John F Kennedy Drive is one of Palmerston North’s main arterial routes – linking the city with the CBD.