Fruit and vege markets healthy earners
The land and buildings housing two stand-alone suburban fruit and vegetable supermarkets in Auckland are for sale. The fresh produce stores are in busy retail locations servicing established residential neighbourhoods.
The two are being sold by Bayleys Real Estate — with just the land and buildings on offer in both instances. They feature in Bayleys’ latest Total Property portfolio magazine.
● First up is a 345sq m outlet housing Pt Chev Fresh, which has been a tenant on the site for 17 years. The freehold property, at Unit D 1110 Great North Rd features a single-level building in Pt Chev town centre, and comes with four car parks.
Pt Chev Fresh is on a current fiveyear lease running through until 2021, with two further five-year rights of renewal. It generates an annual return of $108,312pa, with outgoings.
The property is being marketed through auction at 11am on October 24, through Bayleys Auckland.
Salespeople Nicolas Ching, James Chan, and Quinn Ngo say Pt Chev Fresh’ immediate neighbours are focused on convenience retail operations — such as a butchery, bakery, laundromat, liquor stop, petrol station, and take-away food premises.
“Being complementary to other retail outlets within the hub, Pt Chev Fresh enjoys a high volume of foot traffic.
“Customers buy their fruit and vegetable supplies from the store, their meat from the butcher next door and a bottle of wine or six pack of beers from the liquor store on the other side. It’s a symbiotic relationship for all tenancies,” Ching says. “The block is relatively modern and has been maintained to a high standard. This has underpinned the attraction to customers,” adds.
● Another fruit and vegetable retail offering features the 272sq m premises accommodating the Ellerslie Fresh Mart at 6 Findlay St, Ellerslie.
The freehold retail unit comes with 10 car parks. Ellerslie Fresh Mart is on a five-year lease running through until 2019, with two further five-year rights of renewal and generating a net annual return of $60,000. Fresh Mart occupies the entire premises.
The property, in the heart of Ellerslie township, also goes to auction at 11am on October 24 through Bayleys Auckland.
Salespeople Oscar Kuang, Beterly Pan and Nicolas Ching describe it as directly across the road from Ellerslie train station, hence a convenient location for commuters to pop in and purchase their daily grocery needs on the way home from work.
Ching points out that as a true “neighbourhood” fruit and vegetable shop, “Ellerslie Fresh Mart makes for a local alternative to the big supermarkets in Greenland and Panmure.”