Ponsonby’s Cider Building, which will soon house a state-of-the-art Countdown store, is due for completion and will be marketed for syndication this month. Besides the new 4000 sqm supermarket, the development encompasses 8000 sqm of office space, 530 car parks and 11 retail tenancies.
A total of 50 interests of $1 million each are available to wholesale investors. According to Tim Lichtenstein, Colliers' syndication investments national director, Cider is particularly attractive to those seeking passive investments in the commercial property sector.
"This property's key point of difference is the tenant mix which consists of bulk retail, commercial and specialty retail. All the boxes are ticked, including national brand-name tenants, a brand new building and an outstanding Ponsonby location surrounded by a variety of strong commercial operators and a sought-after residential catchment," said Lichtenstein.
"Supermarkets alone are considered an exceptionally resilient asset class due to their very nature in providing food necessities, as well as their strategic location in key residential catchments such as Ponsonby."