Grunty cashflow, serious upside
• Circa 23,754sqm (more or less) of industrial buildings on 6.08ha (more or less) of freehold land
• Passing income circa $500,000 per annum gross, with major rental growth
• Significant infrastructure in place, ripe for future redevelopment
• Prominent site near State Highway 1 with surplus land and scope to redevelop
9 Ladys Mile occupies a prominent site within Foxton's established township area, a short walk from the town centre, with State Highway 1 running through Foxton with Palmerston North and Levin within easy reach. Successive expressways north of Wellington have cut drive times to the region, and the Ōtaki to north of Levin expressway now under construction will improve access again.
With strong income from 30+ tenancies on varying lease terms and circa 6,500sqm of vacancy providing immediate upside, the property benefits from major infrastructure running to site including water bores, connection to the main sewer line and substantial power capacity, positioning it for future redevelopment.
Multiple buildings across the site provide versatile income with the ability for the property to be refurbished or redeveloped, staging the upside while retaining cash flow throughout. A value-add investment today, and a redevelopment site when the time suits. At circa 23,754sqm of building area, this ranks among the largest industrial holdings in the Horowhenua and Manawatū.
For Sale by Expressions of Interest (unless sold prior), closing 2pm, Thu 22 Oct 2026, 243 Broadway Avenue, Palmerston North.
• Passing income circa $500,000 per annum gross, with major rental growth
• Significant infrastructure in place, ripe for future redevelopment
• Prominent site near State Highway 1 with surplus land and scope to redevelop
9 Ladys Mile occupies a prominent site within Foxton's established township area, a short walk from the town centre, with State Highway 1 running through Foxton with Palmerston North and Levin within easy reach. Successive expressways north of Wellington have cut drive times to the region, and the Ōtaki to north of Levin expressway now under construction will improve access again.
With strong income from 30+ tenancies on varying lease terms and circa 6,500sqm of vacancy providing immediate upside, the property benefits from major infrastructure running to site including water bores, connection to the main sewer line and substantial power capacity, positioning it for future redevelopment.
Multiple buildings across the site provide versatile income with the ability for the property to be refurbished or redeveloped, staging the upside while retaining cash flow throughout. A value-add investment today, and a redevelopment site when the time suits. At circa 23,754sqm of building area, this ranks among the largest industrial holdings in the Horowhenua and Manawatū.
For Sale by Expressions of Interest (unless sold prior), closing 2pm, Thu 22 Oct 2026, 243 Broadway Avenue, Palmerston North.
Key features
Lease
Income from 30+ tenancies on varying lease terms returning circa $500,000 per annum gross
Opportunity
Circa 6,500sqm of vacancy providing immediate rental upside, with scope to redevelop
Location
Prominent Foxton site a short walk from the town centre, with State Highway 1 through the town
