Coastal & Country is an independent capital asset advisory and agency business based in the Bay of Islands. We cover commercial, horticulture, pastoral farming, rural lifestyle, tourism and specialised asset categories and going concern businesses. We strive to deliver the best service and outcome for every client.

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Call Nigel Mayson on +64 027 222-5858

436 Kāpiro Rd, Kerikeri, Bay of Islands 0294

Mon to Fri 8.30 AM to 5.30 PM

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STRATEGIC REGION. FULLY LEASED. LISTED RETAIL TENANT. GROWTH POTENTIAL.

Tenanted by New Zealand’s leading retail group ‘The Warehouse’ and located in the strategic economic and cultural hub of Kaikohe in Northland, 39 Station Road offers investors an easily managed investment with opportunity for both rental growth and re-development. It also offers an opportunity for other national retailers and/or owner-occupiers, not currently represented in this important Far North district and population catchment, to gain a foothold with interim secure holding income.

  • Net property rental of $285,997 p.a.
  • Easily managed investment.
  • 92% of rental from The Warehouse.
  • Top-performing The Warehouse store.
  • On-brand retail demographics.
  • Strategically important region.

39 Station Road is being offered for sale by tender commencing 8am Friday 26 October 2018 and closing 5pm Friday 23 November 2018 (unless sold prior by private treaty).

“92% OF INCOME FROM NEW ZEALAND'S
LARGEST LISTED RETAILER.”

A fully leased and easily managed investment with a superb tenant covenant.

STRATEGIC HUB

Kaikohe township and surrounding farming and coastal areas, with a population estimated at 18,500, is a strategically important region in the Far North (with a total population estimated at 61,000). Kaikohe is a hub for a dispersed farming community which underpins the local economy, Far North District Council is based adjacent in Memorial Avenue and, significantly, Kaikohe is heartland for New Zealand’s biggest Mãori iwi, Ngãpuhi. Perfectly co-located with a Countdown supermarket and a McDonalds restaurant.

ON-BRAND RETAIL DEMOGRAPHICS

University of Auckland published research has identified The Warehouse format of retailing as having a very positive orientation for Mãori — not just in terms affordability, but also in the context of other qualitative factors such as the relaxed in-store environment, the ability to purchase through Marae and iwi based organisations and local employment opportunities. The Kaikohe district socio-economic demographics are therefore on-target for large format retailers.¹

GROWTH POTENTIAL

Compared against rentals for a selection of 14 The Warehouse stores around New Zealand, the Kaikohe store rent is circa 43% under the cohort average. There is an opportunity for a new owner, with the capital and expertise, to re-configure the existing building on its current footprint for another large format retailer, or multiple retail tenancies, should The Warehouse not renew its lease — or investigate a comprehensive re-development.²

Invest in Northland’s growth

39 Station Road offers savvy property investors a fully leased and easily managed investment with potential for both rental growth and re-development. Ngãpuhi are poised to receive what many consider will be the largest Waitangi Treaty claim settlement in New Zealand history and, as the ancestral heart for Ngãpuhi, Kaikohe will have a pivotal role in the future economic and cultural development of the Far North. National retailers and/or owner-occupiers, not currently represented in this important Far North district and population catchment, have an opportunity now to gain a foothold with an eye to this future growth — with interim secure holding income.

39 Station Road is being offered for sale by tender commencing 8am Friday 26 October 2018 and closing 5pm Friday 23 November 2018 (unless sold prior by private treaty).

Call Nigel Mayson on 027 222-5858 for a detailed information memorandum. Inspection is by appointment only.

¹Te Warewhare: The Impact of The Warehouse on Mãori in Kaitaia, Kerikeri & Moutueka (University of Auckland Business Review).

²Subject to required Council resource and/or building consents.