Colliers have been appointed exclusively to market for sale 26 The Mall, Cromwell.
This property is being offered For Sale by asking price - $650,000 + GST (if any).
This information Memorandum provides preliminary information to assist interested parties with their assessment of the property. Further information is available via an online data room available on request.
Data room documents available:
• Information Memorandum
• Certificate of Title and Interests
• Lease Documentation
• Land Information Memorandum
• Draft Sale & Purchase Agreement
All enquiries, requests for information and arrangements to undertake inspections in relation to this opportunity are to be directed to the sole agents.
Anna Rawling
+64 22 492 5700
anna.rawling@colliers.com
Rory O’ Donnell
+64 27 445 3982
rory.odonnell@colliers.com
Executive Summary
26 The Mall, Cromwell
DESCRIPTION
The premise has a total floor area of circa 280sqm over two levels, with retail store frontage onto Cromwell’s main Commercial Precinct known as ‘The Mall’. The tenancies also have rear access to the common area.
TENURE Freehold
LEGAL DESCRIPTION LOT 18 DP 18369
RECORD OF TITLE OT14C/987
AREA
LOCAL AUTHORITY
ZONING
RATEABLE VALUE (as at Oct 2022)
TENANTS
CURRENT CONTRACT RENT
RATES (2025-26) (2024-25)
Land 242m² approx. | Floor 280m² approx.
Central Otago District Council (CODC)
Business Resource Area
Capital Value - $800,000
Land Value - $600,000
Improvement Value - $200,000
A - Shebiz Limited
B - Latitude 45 Residential Limited, trading as Sentinel Homes
C - Centric Networks Limited
Contract rental as at 1 May 2026 - $46,581.55 pa plus Outgoings & GST
CODC $5,458.78
ORC $355.47
Tenancy A
Tenancy B
Tenancy C
Investment Highlights
Diversified Investment Good Retail Frontage
Fully leased property to 3 tenants with staggered lease expiries and structured rent reviews in place
12.8m retail store frontage to the central pedestrian mall
Current Rent Growth Location
Contract rent - Current contract rent is as at 1 May 2026 is $ 46,581.55 pa Outgoings & GST
Located in the heart of the retail precinct in Cromwell
The Building
On offer is a 1980’s two level commercial building located on the southern side of The Mall, situated on a regular shaped 242m² freehold site. The premise has a total floor area of circa 280m² with retail frontage to the central pedestrian thoroughfare of Cromwell’s main Commercial Precinct known as ‘The Mall’. The property also benefits from access at the rear, facing one of the vehicle entrances to the complex providing ease of access where casual car parking is available.
The property is currently fully leased to three tenants, Shebiz Limited, Latitude 45 Residential Limited (trading as Sentinel Homes) and Centric Networks Limited at $46,581.55 pa plus Outgoings and GST as at 1 May 2026.
Constructed with concrete block, steel framing and timber joists, the building presents a low-maintenance investment, with a functional layout suited to a range of retail and commercial uses. Large glass shopfronts facing north provide excellent exposure to passing foot traffic.
Tenancy Schedule
Address 26 The Mall, Cromwell
Note - Passing Rent is the current contract rent for the property per lease. * Approximate Net Lettable Area including share of common area.
Location
The Cromwell CBD Mall is the only major shopping precinct in Cromwell. Built in the early 1980’s, The Mall offers day to day amenities for the wider Cromwell and Central Otago District.
The Mall is located and accessed just off State Highway 8B, by the Big Fruit. The subject property is situated on the southern edge of The Mall enjoying easy accessibility to both foot and vehicle traffic.
The Mall provides commercial space for retailers, professional offices, cafes, restaurants and takeaways, a tavern, gym, library, and medical centre.
The local Council have over the years been working on a revamp of the area with the main aim being to open up The Mall, allowing more visibility to benefit retailers.
* boundary indicative only
Zoning
Territorial authority Central Otago District
Plan status Operative
Zone Business Resource Area
Zone description
This allows for a wide range of commercial land uses as permitted activities.
Extract from District Plan:
‘To enable the development of a wide range of activities within the Business Resource Area provided significant adverse effects are avoided, remedied or mitigated’.
Permitted activities
• Any activity that is not listed as either a controlled, discretionary (restricted), discretionary, or noncomplying activity and that complies with the rules and standards set out in Sections 11 to 15 of this Plan and the standards set out in Rule 8.3.6 is a permitted activity.
• The District Plan does not list specific uses as Permitted Activities. We advise that investigation be made to ensure any future proposed use would be allowed on the site - either a Permitted Use or with Resource Consent.
Development controls
• Maximum height shall be 10m, no front yards are required·, no side or rear yards are required except where the site adjoins a residential resource area.
* boundary indicative only
Cromwell Market
The retail and office sectors in Cromwell have remained subdued. Both tenants and owner-occupiers are facing increased council rates and insurance costs, while challenging trading conditions persist across many retail and service industries. Current construction costs indicate that office rents would need to rise to a base rate of at least $350 per square metre for new office developments to be financially viable.
However, prevailing office rents remain well below this threshold. Combined with stringent financing requirements and high development costs, this has limited the feasibility of new office projects. In the absence of new office construction, Cromwell has continued to convert retail space for office use in the short term, which has further diluted the retail offering available to local residents. Should population growth continue at its recent pace, it is anticipated that the town centre will either reverse this trend or halt the conversion of retail to office space within the next three to five years.
The council’s substantial investment in the new Memorial Hall and Events Centre is positive for the town in general; however, with the facility being located on the riverfront, on the opposite side of town from The Mall, it will have limited impact on generating more favourable trading for current retailers. The nearby development of Wooing Tree Estate continues to see a steady stream of new houses close to the town centre, which does offer the potential for increased foot traffic in The Mall.
Record of Title
RECORD OF TITLE
UNDER LAND TRANSFER ACT 2017
FREEHOLD
Guaranteed Search Copy issued under Section 60 of the Land Transfer Act 2017
Identifier OT14C/987
Land Registration District Otago
Date Issued 15 July 1992
Prior References
OT11A/781
Estate Fee Simple Area 242 square metres more or less
Legal Description Lot 18DepositedPlan18369
Registered Owners
Northburn PropertiesLimited
Interests
Subject toSection11CrownMineralsAct1991
Subject toPartIVAConservationAct1987
Due Diligence
To assist in the assessment of this offering, comprehensive due diligence information is available via a secure documents link. For access to all documents please register your interest with one of the agents.
• Information Memorandum
• Certificate of Title and Interests
• Lease Documentation
• Land Information Memorandum
• Draft Sale & Purchase Agreement
All enquiries, requests for information and arrangements for site inspections are to be directed to the Colliers sole agents:
