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Property investors line up for a tasty slice of pizza outlet premises on the market for sale

The two-storey Gladstone Road premises houses Gisborne’s Domino’s branded pizza outlet. Domino’s has been operating from the same location for the past 15 years.

Directly outside the store’s front door is Gisborne’s famous heritage clock tower – built in 1934 after its predecessor in the chief post office was taken out of action following earthquakes several years before. The bells from the old clock were installed inside the replacement art deco styled clock tower – which sits in the middle of Gladstone Road with traffic flowing either side.

In a quirk of history, many customers ordering food from the adjacent Domino’s store use the clock tower timepiece with its landscaped gardens below to check how long the pizza makers have taken to bake their order.

Globally, the Domino’s brand has operations throughout Europe, Asia, and Australasia. Including the Gisborne franchise, the brand has some 2,800 outlets. It is the biggest pizza brand in Australia.

Sitting on some 300 square metres of flat land zoned Inner Commercial under the Gisborne District Council plan, the 260-sqaure metre building at 209 Gladstone Road has a new building standards rating of 67 percent.

The freehold land and building at 209 Gladstone Road in Gisborne are now being marketed for sale by tender through Bayleys Gisborne, with the tender process closing on December 2. Salesperson Mike Florance said Domino’s Gisborne was on a current lease at the site running through to 2030 - generating annual net rental of $41,324 plus GST and operating expenses.

“Domino’s Gisborne’s retail foodservice premise is a modern and well-maintained store very much in keeping with the parent company’s high brand and customer experience standards. The location perfectly suits its business type – being smack in the middle of town with ample parking immediately outside its front door available for both delivery vehicles, and customers coming in to pick up their orders,” Florance said.

“The store is fully fitted out by the tenant with high quality commercial kitchen equipment – encompassing commercial-grade ovens and walk-in chiller and refrigeration units, a customer-service counter, and additional retail refrigeration in the front of the store.

“As with most of the shops along Gladstone Road which trace their design styles and construction back to the 1930s-1960s, the front of the Domino’s store over the pavement sits under a wide canopy with supporting structural framework.”

Additionally, council-maintained street lighting flanked by two large palm trees also sits on the pavement directly outside the Domino’s Gisborne store – adding to its street appeal.

Florance said there was an opportunity to increase revenue from the property by refurbishing and leasing out the currently vacant 126-square metre first floor. Access to the upper floor is via a walkway running down the side of the building.

“The upper floor has been unused for quite some time and is need of a straightforward new fit-out or refurbishment to bring it up to a standard suitable for occupation by a commercial tenant,” said Florance.

“Being located in the heart of Gisborne’s compact central business district and main street, any refurbished space completed to the necessary level of council consenting would be ideal for a small professional services or advisory firm.

“There is also the potential, subject to any necessary council approvals, for the installation of high-profile branding signage on both the underutilised front and sides of the building to give it a fresh new look.”

The middle part of Gladstone Road with its high foot traffic flow is a magnet for food and beverages operations in Gisborne, not only housing the Domino’s store but also Fiance Indian restaurant, Nina’s Kitchen, the Golden Crust Bakery, Thai Sunshine eatery, Burger King, KFC, and Sofra Turkish Café.

Click here for more information on the listing.

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