Rural warehouse, retail with national tenant
A substantial rura lw arehouse and retail showroom with extensive yard in a premier dairy region has been placed on the market.
The 4805sq m block facing directly onto SH2 in the prosperous Hauraki Plains township of Ngatea is tenanted by Farm Source, the retail trading arm of Fonterra.
The location in Ngatea ’s m ain street has long been home to rura lf arm supplies retailers – previously housing RD1, which became Farm Source, and predecessors McCleans and Anchormart.
Over the years the buildings have been expanded and upgraded to house the evergrowing demands of servicing farmers in the rural sector. The site’s well-maintained building is divided into a warehouse showroom, offices, lunchroom and storage space.
T hel and and buildings at 59-65 Orchard Rd West are being marketed for sale by auction on September 28 through Bayleys Hamilton.
Salesperson Josh Smith said the steelframed, iron-clad building has a 100% IEP rating and would appeal to investors looking for a strong tenant.
Farm Source is currently on a lease running through to 2025 with four further three-year rights of renewal, generating
annual rental of $191,048 plus GST and operating expenses.
“The flat site benefits from a high-profile street frontage alongside one of the busiest
roads in the Coromandel Peninsula. Farm Source has strategically created a hub for the farming community.
“The block is zoned Industrial 7A under the Hauraki District Council Plan,” said Smith.
“With two street entrances/exits, the fully fenced yard offers drive-through access, with multiple carparks allowing for easy access for inward goods and customer parking.
“Perfectly situated for future-proofing business activities, the positioning and configuration of the building structure within the site running along the rear boundary allows for potential expansion onto the undeveloped yard area.”
Orchard Rd West is the main arterial route running through central Ngatea, and sustains a broad selection of retail businesses along with council offices.
In the heart of the Hauraki Plains, Ngatea services a vast hinterla ndofd airying operations with Thames to the northeast and Paeroa to the southwest, both within easily commutable distances.
Dairying and agriculture are the predominant business activities in the surrounding area. Accordingly, much of Ngatea’s economic activities derive revenues from the likes of veterinary services, farm equipment, engineering and machinery businesses.