Fruiterer, garage at Te Rapa
Two adjoining properties close to The Base shopping centre, Hamilton, are among 14 Waikato commercial properties featured in Bayleys’ latest Total Property portfolio.
With a combined land area of 2500 sq m offerings, the offerings — at 1000 and 1006 Te Rapa Rd — will be auctioned on September
20, unless sold earlier.
“They are being offered for sale with vacant possession on behalf of different vendors so will be auctioned separately but obviously there will be the opportunity for one party to bid for both to make the most of this prime location,” says Alex ten Hove, who is marketing them with Bayleys Waikato colleague Mike Swanson.
The properties are surrounded by major retail complexes with The Base Te Awa shopping mall, described as New Zealand’s largest shopping and leisure centre, and a Mitre
10 Mega store opposite, and a Countdown and K Mart sharing the same side of Te Rapa Rd.
“It’s likely a big block of vacant land next door and opposite Countdown will be redeveloped into a large format retail complex,” ten Hove says.
“The two sites are on a high visibility route in Hamilton’s fastest growing retail and industrial area, with a brilliant passing traffic profile exposing business occupiers to a large volume of vehicles daily.”
The larger of the two offerings is on
1500sq m of land at 1000 Te Rapa Rd. It has operated as The Highway Fruit and Vege business for the past 30 years and comprises a main retail building of 320sq m and two storage sheds totaling 120m sq m at the rear.
Swanson says the level, rectangular shaped property has worked well for the business established by the vendor, as reflected by the longevity of its occupancy.
“The site has about 30sq m of frontage to Te Rapa Rd which easy access for vehicles heading north. There is also plenty of car parking for customers with 15 parallel parks along the northern side of the building.
“It is well suited to convenience retailing, with high volumes of passing motorists providing a good level of “drop-in” business.
“Potential future uses, subject to obtaining resource consent, could include a fast food, fuel or some other type of service business looking for a site that offers plenty of exposure and profile.”
He says the existing main building could be re-purposed and possibly expanded and leased out or the under-utilised site could be completely redeveloped possibly in conjunction with the neighbouring property.
That offering, at 1006 Te Rapa Rd, encompasses 1012sq m of land and about 300sq m of industrial buildings.
It has operated as David Irving Motors automotive repair and servicing business for the last 45 years.
“This business also benefits from superb
profile to the large amount of traffic that travels along the four-lane road, which along with the nearby, newly opened Waikato Expressway, provides the main northern route to and from Hamilton,” says ten Hove.
“When David Irving brought the property to establish his business there in the 1970s, Te Rapa was a predominantly rural area with a large air force base. This was developed into The Base shopping centre following the transfer of the land’s ownership to Tainui in the 1990s as part of the Crown’s treaty settlement process.
“The ongoing development of The Base, which has stimulated complementary developments, has transformed Te Rapa into a major retail destination.”
Swanson says Te Rapa has continued to grow as Hamilton’s main industrial hub on the back of a substantial amount of greenfields land and its pivotal position, close to the motorway, in the “Golden Triangle” of Auckland, Tauranga and Hamilton.