Land and Building for Sale Rarotonga Cook IslandsEnquire about this "Land and Building for Sale Rarotonga Cook Islands" property on nzcommercial
Massive Opportunity to acquire prime commercial leasehold land & building in Rarotonga's CBD.
Avarua CBD Rarotonga
Commercial Property for Sale Description
Land and Building for Sale Rarotonga Cook Islands Main Street
A half-acre leasehold plot equivalent to 2048sqm with free-standing commercial building of approx 1104sqm lettable space is up for sale. Located in a prime position in the main street of Avarua with off-street parking. Remaining ground lease of 45 years.
Adjoining plot equivalent to 365sqm is also for sale, with remaining ground lease of 19 years.
The building itself, currently used as a supermarket, offers large open-plan showroom, ancillary stock warehouse, offices and amenities. While the building itself is relatively dated, it continues to offer functional accommodation that is well suited to its existing purpose.
The 2 plots combined are near rectangular shaped and offer off-street parking (approx 12 carparks) and public parking along wide frontage. The 365sqm could potentially be redeveloped into additional off-street carparking.
This offering presents a massive redevelopment opportunity given its highly regarded main street location, remaining ground lease terms, attractive landsize, near rectangular shape, and wide frontage.
Currently tenanted by CITC Foodland, Cook Island's largest retailer and wholesaler, under a sublease agreement with all rights of renewal due to expire in 2032.
Enquire NOW! Price On Application