Modern Freehold & Diverse Income Streams

Presenting 191 King Edward Street, South Dunedin-a modern freehold commercial investment positioned on two titles comprising approximately 826m² in the heart of South Dunedin's established retail and commercial precinct. With a passing rental of $111,300 net per annum plus GST, this quality investment offers diversified income from a mix of office, service retail, and commercial tenants. The property has been held by the current owners for more than 30 years, having re-developed the site in 2013 and offers upside with potential to re-tenant a part of the premises or potentially develop this area.

Constructed in 2013, the main building comprises a modern two-level commercial complex with triple street frontage, excellent exposure, and substantial onsite parking. At the rear is an older single-storey building (circa 1970s), presenting value-add and redevelopment potential, along with a separate garage that has been converted into office space fronting Glasgow Street.

The building sits in a prime central location along South Dunedin's main commercial strip. It is positioned directly near other major brands like BNZ, ANZ, Westpac, NZ Post, Pak'nSave and The Warehouse. Additionally, it benefits from excellent foot traffic and visibility due to its proximity to the recently completed Te Whata o Kaituna / South Dunedin Community Library located at 148 King Edward Street.

The property is currently leased to six commercial tenants, including an international hearing specialist, a longstanding national finance and lending provider, an accountancy firm, an international scientific and medical distribution company, a local roofing business, and a well-established dry-cleaning operator. The dry-cleaning tenant will vacate at the end of August, creating an opportunity to re-lease, redevelop, or repurpose approximately 140m² (more or less) of vacant space. Full lease details are available on request.

Modern office and service retail investments of this calibre rarely become available in South Dunedin and continue to attract strong tenant demand from businesses seeking a high-profile location close to their customer base. The forthcoming vacancy further enhances the property's appeal by providing immediate flexibility for investors to increase income, reposition the space, or unlock future development potential. This represents an outstanding opportunity to secure a premium commercial investment with diversified income, future upside, and a proven history of reliable performance.

Key selling points:
• Current net rental income of approximately $111,300 per annum plus GST, with future rental upside to circa $122,000 PA net or higher.
• Freehold land area of approximately 826m² (more or less) across two titles.
• Prominent, high-profile location in South Dunedin.
• Well-configured tenancy sizes ranging from approximately 60-80m².
• Each tenancy is independently metered and includes its own amenities.
• Modern, quality fitouts throughout with low-maintenance construction.
• Established tenant mix with an excellent leasing history.
• 12 onsite car parks, with seven parks currently leased to tenants.
• Lease structures include regular rental review provisions.
• Approximately 140m² of vacant space available from the end of August, providing options to lease, redevelop, or add value.
• Zoned: Principal Centre under the 2nd Generation District Plan

Enquire now for a comprehensive Information Memorandum and supporting documentation.

Enquiries over $1,600,000 plus GST if any