Rare Investment/Development Opportunity 516–518 Church Street, Palmerston North, 4410 FOR SALE IN TWO PARTS OR AS A WHOLE MARKETING PARTICULARS 6,575m 2 PRIME REAL ESTATE (approximately) Boundary lines indicative only. Location Doesn’t Lie A Growing City Means Growing Real Estate Value About Palmerston North City → Palmerston North city is home to over 86,000 residents, with more than 116,000 people in the wider Manawatu region. → The city is a bustling urban centre, with its many tertiary institutions. Massey University, UCOL and IPU New Zealand are all based here, as well as others. → Its central North Island location makes it a popular hub for business. Palmerston North is home to Toyota’s national customer centre, two Foodstuff distribution centres, EziBuy’s international distribution centre, FMG, Higgins Group, Hunting & Fishing New Zealand and many other national head offices. Surrounded by a significant rural area, there is a well-developed agribusiness and agritech industry. → Palmerston North has a well-connected airport — New Zealand’s 8th busiest. A $40 million multi-modal freight hub is also currently in design. An Ideal Addition To Your Portfolio A sizable, central location in the middle of a growing city. 516-518 Church Street is located roughly: 15 MINS WALK 1 KM ← CBD 516-518 CHURCH STREET to the CBD 25 MINS WALK 1.8 KM to Palmerston North Hospital 5 MINS WALK 400M to an extensive collection of shops and supermarkets (Countdown, New World, BABCo Bakery, Unichem Pharmacy, Liquorland, BNZ and many others.) 2 1 Boundary lines indicative only. Site One A Great Investment Opportunity → Land area approximately 3,305m 2 → Includes three separate apartment blocks, for a total of 14 apartments plus a car parking area. → Each unit has two bedrooms and one bathroom, sitting at approximately 70m 2 The overall area within the 14 apartments is approximately 980m 2 → These apartments will require refurbishment to bring them in line with recent government insulation legislation. Site Two Perfect For Redevelopment → Land area approximately 3,270m2. → Includes one house and a large open space in the rear. → Currently underdeveloped, this site is ideal for further development, subject to the requisite consent from Palmerston North City Council (PNCC). Please note this is included for indicative guidance only, it is not to scale and the measurements cannot be relied upon. Please note boundary lines are indicative only. The Following Can Be Purchased Separately, Or As A Whole: Development Options → It is our understanding that residential development can take place in this location, as of right, provided sections are not smaller than 350m 2 and adhere to the requisite requirements of the Palmerston North City Council (PNCC). → The subject site is located within the Residential Zone of Palmerston North City District Plan and within an identified Multi-Unit Residential Area, where a greater density than that noted above may be permitted, subject to assessment by the PNCC. → Given the significance of the tertiary sector to the Manawatu, the site could equally be redeveloped for student accommodation, subject to PNCC consent. It is important to note that this is not a ‘Planning Statement’ and that each party should seek independent advice related to all matters contained within these particulars. If acquired separately, discussions will need to be entered in to with regard to access and/or boundary adjustments. Titles These sites sit within 7 titles, as noted below: Title Identifier Legal Description Area m 2 WN13C/1182 LOT 1 DP 41609 727 WN13C/1183 LOT 2 DP 41609 1,018 WN13C/1184 LOT 3 DP 41609 971 WN13C/1185 LOT 4 DP 41609 1,137 WN13C/1186 LOT 5 DP 41609 928 WN13C/1187 LOT 6 DP 41609 877 WN321/55 Pt Section 894 TN OF Palmerston North 920 TOTAL 6,578 These Won’t Stay On The Market For Long An exceptional opportunity to own, invest or develop - whatever your vision, this site ticks the boxes. The preferred offer will likely relate to the combined opportunity, however interested parties are invited to bid for either ‘site’ in isolation. Need More Information? Feel free to contact us with any questions. Email churchstreetpn@gmail.com Phone 021 221 9393 EXPRESSIONS OF INTEREST BY: NOON, WEDNESDAY 11TH DECEMBER (unless sold prior) Further Contact: 021 221 9393 / churchstreetpn@gmail.com This Memorandum has been prepared solely to assist interested parties in deciding whether to express their interest in the assets and then making their own evaluation of the properties and its assets. The Memorandum does not purport to contain all information that a prospective Purchaser may require. In all cases, interested parties should conduct their own investigation, analysis and verification of the data contained in this Memorandum and the properties. Neither the delivery of this Memorandum nor any contractual agreement concluded thereafter shall under any circumstances create any implication that there has been no change in the affairs or prospects of the property since the date of this Memorandum or since the date as at which any information contained in this Memorandum is expressed to be applicable. The Advisors have not independently verified any of the information contained within this document. None of the Advisors or the Owner make any representation or warranty as to the accuracy or completeness of the information contained in the Memorandum and none of the Advisors or Owner shall have any liability for any statements, opinions, information or matters (express or implied) arising out of, contained in or derived from, or for any omissions from, or failure to correct any information in this Memorandum, or any other written or oral communications transmitted to any recipient of this Memorandum in relation to the property. Retention of this Memorandum will constitute acceptance of the recipient and readers of these terms and conditions and any recipients who do not accept any of the terms and conditions should return the Memorandum immediately. We strongly advise prospective purchasers to undertake their own independent written building inspection reports from a certified building inspector and LIM report from PNCC. We also advise prospective purchasers to consult with their solicitor prior to submitting an offer for sale and purchase. We do not warrant the accuracy of the LIM and no liability is accepted for any errors or omissions. It is recommended to all Purchasers and interested parties that you make your own property file enquiries with PNCC for ‘Due Diligence’ purposes, and your own investigations with your lawyer, and respective qualified professionals. Due Diligence Notice Of Disclaimer