66 The Square, Palmerston North CBD, Manawatu High-yielding split-risk investment

Available PropertyFiles:

  • /1. Information Memorandum/
    • Information Memorandum_The Square, 66 - min.pdf
  • /2. Lease Documents/
    • 1. Eye Openers - Deed of Lease.pdf
    • 3. Glendinnings_Author-IT_Renewal and RR.pdf
    • 3. Glendinnings_Author-it Deed of Lease 2019.pdf
    • 3. Glendinnings_DOL 5.6.09.pdf
    • 3. Glendinnings_DOR and RR 2025.pdf
    • 4. Health Hub_Deed of Lease_2021.pdf
    • 4. Health Hub_Deed of Renewal of Lease 2023.pdf
    • 4. Health Hub_Deed of Renewal of Lease 2023_.pdf
    • 5. Massage_Deed of Renewal of Lease - 2024.pdf
    • 5. Massage_Deed of assignment 2021.pdf
    • 5. Massage_Deed of lease 2017.pdf
    • 6. Mercury Energy_Deed of extension 2025.pdf
    • 6. Mercury Energy_Deed of lease 2019.pdf
    • 7. Phonem Ltd_Deed of assignment 2017.pdf
    • 7. Phonem Ltd_Deed of lease 2014_.pdf
    • 7. Phonem Ltd_Deed of renewal and rent review 2019.pdf
    • 7. Phonem Ltd_Rent review 2025_.pdf
    • 8. Quality Suites_Deed of assignment 2020.pdf
    • 8. Quality Suites_Quest - Original lease 2008_.pdf
    • 8. Quality Suites_The Square Ltd - deed of variation_.pdf
    • 9. Real World Education_Deed of renewal and variation 2023_.pdf
    • 9. Real World Education_Real World Deed of Lease.pdf
    • 9. Real World Education_Variation of lease 2022_.pdf
    • 9. Real World Education_rent review 2024.pdf
    • 9a. Turkish Restaurant_Deed of lease 2022_.pdf
    • 9a. Turkish Restaurant_Deed of renewal and rent review 2024_.pdf
    • 9b. Resonate_Deed of lease Oct 2024.pdf
    • 9c. The Property Group_Deed of lease 2018.pdf
    • 9c. The Property Group_Deed of renewal and rent review 2023_.pdf
    • 9c. The Property Group_Deed of renewal and variation 2015.pdf
  • /3. Title /
    • 3261454-1.pdf
  • /4. Floor Plans/
    • Typical Floor plan - level 6.pdf
  • /5. Building Compliance/
    • Asbestos Clearance Certificate.pdf
    • BWOF 2025.pdf

Property Description

This is a significant investment property located on a high profile site on the corner of Fitzherbert Avenue and The Square in the heart of the Palmerston North CBD. This landmark office building was erected in the 1970s, and refurbished in 2008 with seismic strengthening in 2015.
There is a good mix of uses including hotel, office, retail, signage and carparking providing an excellent spread of risk across differing property sectors. The building has been exceptionally well maintained and provides a high standard of
accommodation in a sought-after position just a few doors down from The Plaza, Palmerston North's extensive inner city retail mall.
Our motivated vendors are keen to meet the market after a long period of ownership, this is a must to inspect. Palmy is booming - now is the time to act.

• Landmark nine-level mixed-use building with hotel, offices and retail
• Strengthened and refurbished building with good leasing history
• Prime corner in the heart of the Palmerston North CBD
• Passing rental circa $736,000 pa + GST with significant upside

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Terms of Supply

DISCLAIMER AND STATEMENT OF GENERAL POLICY
The following information has been supplied to Capital Commercial (2013) Limited (“Bayleys”) to be made available to any prospective interested parties for general information purposes only.
Bayleys and the Vendor do not warrant the accuracy or completeness of the information and recommends that all recipients make their own enquiries to their satisfaction in all respects and seek their own independent expert advice.
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Contact Mark Sherlock

Capital Commercial (2013) Limited, Bayleys,

Licensed under the REA Act 2008

+64 4 499 6022   +64 21 481 562   mark.sherlock@bayleys.co.nz   All Listings


Contact Karl Cameron

Bayleys Real Estate Limited

Licensed under the REA Act 2008

06 350 6067   021 428 092   karl.cameron@bayleys.co.nz   All Listings

Karl joined Bayleys in 1995 and has now been involved in commercial/special projects real estate based in Palmerston North for over thirty years.

Karl has been Palmerston North’s leading commercial salesperson having built a large loyal client base during this time. Karl has enhanced and strengthened Bayleys commitment to real estate in the Central North Island. Although specialising in commercial property and new commercial developments, the last few years have seen Karl involved more and more in special projects.

These special projects range from; the sale of 101 Housing New Zealand properties in Wanganui sold in one parcel; to stately homesteads of the Wairarapa; and large farming operations, to commercial properties such as Massey University Hokowhitu Campus that required specialised marketing and handling. This niche marketing and expertise provided by Karl and his team has been very effective and well received by the marketplace and the results extremely pleasing to all. “ My goal in all my marketing campaigns and transactions, is to maximize the value of the clients asset , period “.