New Zealand’s oldest bicycle retailer, now known as My Ride, has been put up for sale in Dunedin. 

My Ride is being marketed at an asking price of $350,000 by Bayleys.

Founded in 1928 as a small bike shop known as Browns Bikes, the store is now located on a high-profile corner site at 110 Crawford Street.

“The store has long benefited from Dunedin’s status as a bastion of on and off-road cycling, with a growing network of dedicated cycle lanes, popular recreational rides and nearby rail trails,” said Muir Gold for Bayleys. 

My Ride Dunedin offers a full range of bike brands, cycling equipment, apparel and workshop services.

The leased premises consist of a recently-refitted 361sqm shop/workshop on a 674sqm site, providing multiple off-street parking for staff and customers.

The sale comes as demand for e-bikes is soaring. According to Statistics NZ, imports nearly tripled in two years to a record 65,000 last year. The business recorded a gross profit of more than $360,000 in FY2019. 

The business pays annual rent of $60,637.50 plus outgoings and GST. The current lease runs through to 2025, with three further five-year rights of renewal.