Issuu

June 2026

Commercial Portfolio

Our story

Right from the start, provincial New Zealand has been the place we feel most at home. Here, relationships and trust count for everything. A deal is done on a handshake, and locals judge you on how long they’ve known you. No one knows property in the regions better than us. To know a market, you need to live in it. You can’t service it from a distance. Our heartland connection means we have the insights to bring the right people together, so you get the most value out of your property.

1 to 85+ Offices

In 1986 Tim Mordaunt and Don Brown purchased Michael Gray Real Estate at 236 Broadway Avenue, Palmerston North. Property Brokers was open for business. Now we operate in more than 85 locations from the top of the north through to the deep south.

2 to 850+ Staff

In a little over 38 years, our family business has grown into a dedicated team of over 850 strong. In addition to our sales networks, each of our sales consultants are backed by a vast support network spanning administration, management, training, marketing and IT.

100%

Family and kiwi owned

We are proud to be a business still firmly in the hands of family ownership. Our structure allows us to blend the best of both worlds; we have the resources and professional disciplines of a large corporate. We are, however, nimble enough to respond to the everchanging industry, ensuring our customers receive market-leading service every time.

One Trusted name Two Canstar wins

We always put customers first - and it shows.

We’re proud to be recognised with back-to-back Canstar awards for the most satisfied customers in New Zealand - a reflection of the trust placed in us and the genuine care our team brings to every interaction.

To find out why kiwis rated us number one, scan the QR code, or visit pb.co.nz/canstar.

200 JFK Drive, Palmerston North

$4,300,000 + GST / $237,313 + GST pa net rental

Listing Reference: BC208535

Property Brokers presents for sale this multi tenant industrial investment, perfectly positioned at 200 John F Kennedy Drive in Palmerston North. The 3111m2 (more or less) freehold site is zoned Industrial (7A), located on the northern fringe of Palmerston North and is close to the main arterial routes. The building has 2030m2 (more or less) of floor area and each tenancy has high stud warehouse space, large roller doors, offices/showroom and there is great on-site carparking.

Kevin Carian

027 430 4045 | kevin.carian@pb.co.nz

56-60 Queen Street, Palmerston North

56-60 Queen Street, Palmerston North Offers

from $1,230,000 + GST / $80,000 + GST pa net rental

Listing Reference: BC217281

56-60 Queen Street, Palmerston North, is a well-presented commercial investment in a prime CBD location, just off The Square and surrounded by a mix of professional offices, retail, and hospitality operators. The property comprises a two-tenant building with a total floor area of 429m2 on a 590m2 freehold site and is rated at 70% of the New Building Standard (NBS). The building offers a modern, functional layout, with well-maintained office and clinic spaces, strong street presence, excellent signage opportunities, and easy pedestrian access.

Kevin Carian 027 430 4045 | kevin.carian@pb.co.nz

Listing Reference: BC204779

Avenue, Palmerston North

The Commerce building sits right in the middle of Broadway Avenue, next to the Regent Theatre. With the Regent Arcade running the between Broadway and King Street, the property has great foot traffic exposure for the tenant’s client base 24/7. This property is multi tenanted with a mix of six commercial tenants on the ground floor and a residential flat upstairs, the current net rental is $128,625.00. For further information, please call Property Brokers.

711A Tremaine Avenue, Palmerston North

$750,000 + GST (if any) / $49,000 + GST pa net rental + OPEX

Listing Reference: BC212793

Property Brokers are proud to present 711A Tremaine Avenue to the market for sale, 270m2 of Floor Area ( more or less ). The property sits proudly on Tremaine Avenue as part of a group of Trade / Retail premises, centrally on Tremaine Avenue.

Fully leased from 2nd March 2026 for a 3 year term at $49,000 net plus Opex plus GST. 1 X 3 Year Right of renewal with a Market review. Final Expiry 1 March 2032.

Garry Doyle

027 452 2212 | garry.doyle@pb.co.nz

707 Tremaine Avenue, Palmerston North

$800,000 + GST (if any)

Listing Reference: BC225291

Property Brokers are proud to present 707 Tremaine Avenue to the market for Sale, with vacant possession. 446m2 of floor area (more or less). The property sits to the rear of the Trade Retail building facing Tremaine Avenue. Central on Tremaine Avenue, your customers only need your street number to find your business on this well-known street. On street parking and further parking out back of the building. For further information, please call Property Brokers.

31-35 Fergusson Street, Feilding

31-35 Fergusson Street, Feilding For Sale - By Negotiation

Listing Reference: BC207555

Property Brokers presents an off the plan opportunity to own as part of a new and exciting Commercial Village in Feilding, Manawatu, a superb 4 star plus, 46-unit luxury motel as the anchor to the development located in the central district of the developing Agri-town of Feilding, in the Manawatu region. The Developer advises Resource Consent for the motel has now been granted by the district council, development completion dates to be confirmed. The well-appointed 46 room motel is designed to cater to the diverse needs of Manawatu’s growing visitor market. and strong GDP performance. Positioned to capture corporate and leisure travelers, with a leaning towards golf and sport tourism, both national and International. Benefiting from three superb golf venues within 30 minutes.

Bernard Linsley

022 183 2469 | bernard.linsley@pb.co.nz

Westlink, Castlecliff, Whanganui

Westlink, Castlecliff, Whanganui Land banking opportunity

Listing Reference: WGC228210

Position your business for growth with this 2,150 m2 (approx) freehold site in Westlink Business Park, located within Whanganui’s well-established Mill Road industrial precinct.

This development-ready section provides:

• Services to the boundary

• Quality roading

• A clean, modern industrial setting

• Suitability for logistics, manufacturing, storage and trade-based operations

Strategic transport access. Situated close to Mosston Road’s heavy-vehicle route, with convenient links to the Heads Road freight and port facilities, ensuring efficient movement for transport-reliant businesses. Westlink Business Park hosts a mix of recognised national brands and key local industries, offering a strong, stable environment for both owner-occupiers and investors. The precinct continues to expand, reinforcing its position as one of Whanganui’s most active industrial hubs.

Antony Gibbons

027 284 5462 | antony.gibbons@pb.co.nz

Rutland Hotel - 52-58 Victoria Avenue, Whanganui

52-58 Victoria Avenue, Whanganui

$3,100,000 + GST (if any) / $250,717 + GST pa net rental

Listing Reference: WGC223483

An icon on the corner of Victoria Avenue and Ridgway Streets, Whanganui, a Category B Heritage, 2 storey building on a freehold title of 2,023 m2 (more or less). A significant slice of real estate in Whanganui’s main business centre. Long renowned for its hospitality business, the Rutland Arms Inn on Ridgway Street offers accommodation in the grand style of yesteryear, accompanied by a substantial, acclaimed restaurant, bar and relaxing social areas.

Definitely impressive. Combine the Rutland Arms Inn with the equally significant Victoria Avenue frontage, tenanted by a range of businesses and offices, the allure of the location is obvious. With a rental of $250,717 plus GST, Net, consider this an asset to be prized. The tenants include the corner, old world style, modern cuts barber shop, office, retail and travel, beauty and health businesses. The upper floor includes mixed office tenancies.

Gil Button

26 Victoria Avenue, Whanganui Central

$1,599,000 + GST (if any) / $130,000 + GST pa net rental

Listing Reference: WGC207092

This fully leased three income-stream investment property at 26 Victoria Avenue, Whanganui, is now offered for sale. Retaining the features of its former use as the Whanganui branch of the Bank of New Zealand, location, style and income are hallmarks of this heritage icon. A substantial, quality investment, renowned as a unique building, retro fitted, extended and earthquake strengthened to 66% NZS4203. Land area 884 m2 (approx), building area 795 m2 (approx) including associated improvements. The restaurant ground floor main dining, conference room and mezzanine function room which is accessed via stairs and a service / disability lift. Trades, tenants, staff and hospitality deliveries enter the property from a rear service lane. Rental income is $130,000 Net. The three tenants are Momiji Restaurant and Cafe, Moni Barber and a managed residential apartment

• Hospitality

• Retail

• Apartment

• Open courtyard

Gil Button

68 Victoria Avenue, Whanganui

$2,200,000 + GST (if any) / $156,871 + GST pa net rental

Listing Reference: WGC218532

Positioned in the heart of Whanganui’s bustling city centre, 68 Victoria Avenue presents an exceptional opportunity to secure a high-profile commercial investment, surrounded by leading local, national and international tenants. This property combines reliable income, strong seismic credentials, high business foot traffic and genuine future upside. The building comprises four storeys plus a penthouse, with total floor area 1,359 m2 (approx) on 344 m2 (approx) section. The ground floor features a prominent retail tenancy.

• Net rental is $156,871

• Ground floor retail

• Upper floors office

Gil Button

021 326 956 | gilb@pb.co.nz

1 Imlay Place, Whanganui

$4,540,000 + GST (if any) / $331,400 + GST pa net rental

Listing Reference: WGC222225

Positioned in Whanganui’s established and strategically important Heads Road industrial area, this substantial industrial complex presents a special opportunity to secure a largescale, income-producing asset underpinned by recognised national businesses. Comprising two industrial buildings with a combined floor area of 4,407 m2. The improvements are well suited to logistics, manufacturing, and heavy industrial use, with practical layouts. Tenants are Yokohama / TRS and Direct Connect Container Services.

• Yokohama wheels and tyres

• Manufacturing and distribution

• Logistics storage and distribution

• Agricultural and transport industry products

Gil Button

506 Eastbourne Street West, Hastings

506 Eastbourne Street West, Hastings Price by Negotiation / Circa $631,000 +

GST pa net rental

This quality office building accommodates Ministry of Social Development (MSD) and Oranga Tamariki (OT), purpose built for these Government tenants and the property fully meets their requirements for the long term.

• Seismic assessment 100% NBS

• 2200m2 office area over two floors

• 2795m2 freehold land, this is a significant property in Hastings

• New 9-year term lease from 2021 and 4-year term respectively

• Rights of renewal until 2041

• Net income circa $631,000pa plus GST

This investment property has recently undergone a full internal upgrade, exterior repaint and new air-conditioning and LED lighting, which means all the work is done as an owner. This property will provide long term security and is an asset to any property portfolio.

Listing Reference: NC119878 Susan Davis

191-193 Dickens Street, Napier

191-193 Dickens Street, Napier Circa $4,000,000

Listing Reference: NC227551

/ $247,000 + GST pa net rental

The asset is underpinned by long-term lease security to proven tenants.Toyworld has recently committed to a new 8-year lease term with two rights of renewal, while Baby Factory commenced an 8-year lease in 2022, also with two further rights of renewal. The tenancy mix comprises 525.7sqm (approx.) for Baby Factory and 485.32sqm plus a 41.82sqm mezzanine for Toyworld, delivering a balanced income profile across two complementary established retailers. This combination of strong tenant covenant, long lease tenure, and prime accessibility positions the property is a compelling passive investment within Napier’s tightly held retail market.

• Two establised tenants

• Baby Factory - 8 year term (March 2022); two 4-year ROR

• Toyworld - 8 year term (March 2026); two 4-year ROR

• Net rental - $247,000 p.a

• Seismic rating 70%

• Market and CPI rental growth

Nigel Edge

027 309 5838 | nigel.edge@pb.co.nz

701-703 Orchard Road, Hastings

$4,108,000 + GST (if any) / $242,133.49 + GST pa net rental

Listing Reference: HC210921

Vehicle Testing New Zealand (VTNZ) – a leading TIC sector company, majorityowned by global testing giant DEKRA (Germany)

• Lease term: To 2033, with two 5-year renewals and 2.5% fixed annual increases, potential total term to 2043

• Features: High-stud industrial warehouse, office/reception areas, extensive concreted yard, multiple roller door access, and ample parking

• Seismic rating: 75% NBS

• Capital works completed: Refurbished offices and amenities, new cleartile roofing, nail-to-screw replace 701-703

Edge

309 5838 | nigel.edge@pb.co.nz

30-32 Munroe Street, Napier

Listing Reference: NC217698

Positioned in Napier’s tightly held fringe commercial precinct, 30-32 Munroe Street presents a high-quality, two-storey medical investment underpinned by long-standing, nationally recognised tenants. The property is securely leased to The Doctors Napier, a well-established fullservice medical practice operating from the site since 1990, alongside the Unichem Pharmacy, which has occupied the adjoining tenancy for more than a decade. The buildings offer strong seismic performance and tidy clinical fit-outs.

• 8 year lease

309 5838 | nigel.edge@pb.co.nz

1-9 Clive Square, Napier

1-9 Clive Square, Napier 9% Return / $2,300,000 + GST (if any)

Listing Reference: NC216649

Key features:

• Excellent tenancies returning $212,000pa net plus GST

• Easily managed , multi tenanted investment

• 70% NBS (Detailed Seismic Assessment)

• Recently reroofed and exterior repaint

• Prime location adjacent to new Art Deco Centre and Inter City bus terminal

• Good exposure with three frontages

• High traffic flow

This two story commercial property presents as a great diversified investment opportunity to add to your portfolio or those new to the market wanting to secure a top of the range investment at a very good return.

61 Briasco Street, Napier

61 Briasco Street, Napier For Sale - Tender / $92,000 + GST pa net rental

Listing Reference: NC228848

Located in the Awatoto Napier industrial area and comprising of a large open warehouse with dual access from both busy Waitangi Road and Briasco Street.

• 3261m2 (approx.) freehold land area on two titles

• 2129m2 (approx.) warehousing with recently refurbished offices and staff facilities

• Open yard area with access from Briasco Street

• Net annual income $92.000pa plus GST, tenant pays outgoings plus GST

• Existing lease from 2015 with two yearly reviews to market and renewals to 31st March 2031

This large fully leased freehold industrial property presents as a great investment opportunity, with potential opportunity to increase income with additional letting.

204 Sloane Street, Te Awamutu

Listing Reference: NC193804

Purpose built in 2020 for the Ministry of Social Development (MSD) and Oranga Tamariki (OT) is built in separate but adjoining buildings and leased under one tenancy to the Crown.

• A Grade seismic rating

• 1398m2 (approx) office on 1970m2 (approx) freehold land area

• Undercover and open carparking

• Net lease approx. $572,345pa plus GST and operating expenses

• 9 year term from 2020 with rights of renewal

This is an opportunity to secure a new building which is well tenanted and situated on Te Awamutu’s busiest street, so has high profile and two road frontages. A great opportunity to add this property to your portfolio for long term income and gains

Susan Davis

027 472 2266 | susan@pb.co.nz

20 Memorial Square, Carterton

20 Memorial Square, Carterton $740,000

+ GST (if any)

Listing Reference: CC219510

Floor Area: 460m2 (more or less)

Land Area: 524m2 (more or less)

The owners have decided it’s time to retire and hand over the reins to someone else to run this iconic business and benefit from owning such a unique property where people love to enjoy all that’s on offer, and where for the past 18 years the owners have felt privileged to call home. The business, land and building are being sold as one and together present a host of compelling opportunities for a fortunate new owner.

Greg Ariell

027 435 6327 | grega@pb.co.nz

167-169 Oxford Street, Levin

167-169 Oxford Street, Levin Price by Negotiation

Listing Reference: KPC158564

Positioned on the intersection of Oxford Street and Bath Street and across the road from New World, this has to be arguably the most visible building in Levin’s growing CBD. The floor area of ~230m2 comprises a large open plan work area, 2 separate office/meeting rooms, ample storage and a large well equipped kitchen and staff area. The new tenant would have high profile signage rights to the upper level which would be highly visible to passing traffic. Car parking is available nearby.

• Corner site and front window to Levin’s CBD

• 230m2 floor (more or less)

• Large open-plan work area

• 2 separate meeting rooms

• Generous kitchen/staff area

• Modern fit-out

• 71% seismic rating

Mark Blood

021 207 0607 | markb@pb.co.nz

309-311 Oxford Street, Levin

RV $1,590,000 / $122,000 + GST pa net rental

Listing Reference: LC168253

An exceptional opportunity to secure a high-profile freehold commercial investment on Levin’s main arterial route, State Highway 1. This well-established Caltex Service Station property at 309-311 Oxford Street offers the land and buildings for sale, with three tenancies providing diversified income and longterm potential. Situated in a prime position with outstanding visibility and access, this property services both local and passing traffic and is surrounded by complementary commercial uses.

13 Roe Street, Levin

$8,500,000 + GST (if any) / $597,094.80 + GST pa net rental

Listing Reference: LC166458

Introducing a prime commercial investment property for sale, situated on an impressive 1.4 hectares of land. With a strong tenant already in place on a long-term lease, this property offers a secure and rewarding investment that cannot be overlooked.

Strategically located in Levin’s thriving commercial hub, this property enjoys prime position within a growing business district. This gem encompasses a wide range of attractive features that make it an ideal choice for savvy investors.

• Lease term: 10 year lease term from May 2021 with rights of renewal until 2041

• Market rent review: 1 May 2026 and then 1 May every 3 years subsequently from that

• CPI rent review: 1 May of every subsequent year that is not a market rent review date.

• Seismic rating: 100% NBS

• Tenant pays 100% of operating expenses

Owen Kirk

027 742 0225 | owen@pb.co.nz