The prominent premises housing a global fitness chain and a well-known curtain, blind and flooring supplier has gone up for sale in one of Canterbury’s fastest growing towns.

The property sits with high-profile frontage to High Street in the heart of Rangiora. It is fully leased to Snap Fitness and Flooring Connection, generating a total net rental return of $322,316 plus outgoings and GST per annum.

Flooring Connection occupies premises of some 931 square metres across two tenancies on a current lease that runs through to 2029, with two further three-year rights of renewal. The lease agreement locks in fixed annual rental growth of 2.5 percent.

Locally owned and operated Flooring Connection provides a wide range of flooring solutions, from installations through to sales, and carpet to tiles. It serves customers across Canterbury from its Rangiora base.

The lease for Snap Fitness’ approximately 344-square-metre gym premises runs through to 2028 with a further five-years right of renewal and annual rent reviews to CPI.

Snap Fitness is a US-based international health and fitness club offering members 24/7 worldwide gym access, monthly contracts, personal training and a variety of equipment. The business seeks to provide a supportive and inclusive environment for members with wide backgrounds and goals.

The freehold land and buildings housing Flooring Connection and Snap Fitness at 8-10 High Street and 12 Grant Place, Rangiora, are being offered for sale through Alex White and Jesse Paenga of Bayleys Canterbury.

The property will be sold by deadline private treaty closing on Thursday 31 October, unless sold prior.

White said the site consisted of approximately 1,275 square metres of buildings on some 3,244 square metres of land over three titles, plus a share in an accessway.

The site is zoned Business 2 under Waimakariri’s district plan.

“The property offers three smart single-story buildings on a spacious combined site with plenty of customer parking.

“The retail/showroom tenancies spanning the front two buildings are occupied by Flooring Connection, with Snap Fitness housed in the third tenancy to the rear,” said White.

Being in the heart of the town centre, the property and its tenants benefit with excellent visibility maximised by around 30 metres of frontage to High Street.

Paenga said the desirability of the location was demonstrated by the presence of big-brand neighbours such as Noel Leeming, Smith & Smith, The Warehouse and Animates.

The wider town centre is home to a lively mix of retailers, cafes, restaurants and essential services, making Rangiora a vibrant and self-sufficient community just 30 minutes north of Christchurch.

“Underpinning retail trade here is Rangiora’s role as a key provincial hub with a burgeoning population.

“As the Waimakariri District’s leading town, and one of the largest in Canterbury, it is a vital commercial and service centre for surrounding rural communities. The region’s productive agricultural activities contribute to the town’s economic vitality.

“Rangiora’s population soared by nearly half in the 12 years to the 2018 census and is now estimated at around 20,000. Ongoing infrastructure improvements and residential developments reflect the area’s growing appeal as a location for both businesses and families,” Paenga said.

Click here for more information on the listing.