The former Big Fresh building in Dunedin. Photo by Linda
The former Big Fresh Supermarket in central Dunedin has
been sold for more than $10 million.
Colliers International commercial/industrial sales and
leasing Dunedin manager Dean Collins said the large
16-year-old commercial building, on the corner of St Andrew
and Cumberland Sts, had been sold to a local buyer, who
wished to remain anonymous.
The building was formerly owned by an overseas investment
group and, while the exact price could not be disclosed, it
was ''in excess of $10 million'', Mr Collins said.
''There's probably only been about five commercial sales
bigger than that in the history of the city - buildings like
Harvey Normans, Farmers and the Meridian.''
The Cumberland St property has three tenants on the 8088sq m
Since early 2011, the anchor tenant has been Work and Income,
with 3756sq m of office space and the lease of 46 car parks.
Aoraki Polytechnic leases 1136sq m of ground-floor and
first-floor offices and 15 parks, while Wilson Parking leases
160 parking spaces.
Total net annual rental is $918,521, each tenant having a new
nine-year lease with rights of renewal and rent reviews built
Mr Collins said the new owner intended to continue using the
building as an investment, so the present tenants would
The Big Fresh Supermarket housed in the building closed in
2003, with the loss of almost 50 jobs, when then owner
Progressive Enterprises decided after large annual losses it
was not worth spending up to $5 million refurbishing the
building, which was opened in late 1995.