Listen Now: 
Rangitikei St in Palmerston North has a new landlord with Ngati Apa purchasing retail blocks from Wallace Development.
Rangitikei iwi Ngati Apa has staked a strong commercial presence in Palmerston North with the purchase of a large retail block of properties from Wallace Development.
The 8 hectare Rangitikei St site includes several national chains including Dick Smith, Harvey Norman and Uncle Bill’s and brings in almost $1 million a year in rent.
Ngati Apa director Andrew French says the iwi will focus on building long-term commercial relationships with the tenants.
He says the property is ideally situated for large-scale retail in Palmerston North, the buildings are modern and attractive and the Manawatu economy is growing.
It’s the biggest commercial property deal in the city this year.
Copyright © 2013, UMA Broadcasting Ltd
RELATED NEWS
