Store premises very collectable
The land and building housing the celebrated Paeroa knick-knack and household collectibles store, Pioneer House, are for sale.
The single-storey commercial property, at 4 Hughenden St, is among 20 quirky antiques-type businesses in town, including “Granvilles and Arkwrights”; “Yesterday and Today”; “Pandora’s Closet” and “Junk and Disorderly”.
These have helped establish Paeroa’s point of difference in provincial Waikato, says Bayleys Hamilton salesperson Josh Smith.
“Pioneer House has occupied its town centre site for about 20 years, becoming an integral part of this local antique traders’ network.
“Bayleys research shows people in Auckland, Hamilton and Tauranga view Paeroa as a day-trip-destination and transit-stop-off,” says Smith.
The vibrant town sits within the “Golden Triangle Economic Region” — roughly equidistant from Auckland, Hamilton and Tauranga.
The freehold Pioneer House building and site are scheduled to be sold at auction at 11am on December 6. They feature in Bayleys’ latest Total Property portfolio magazine.
Smith says the 379sq m building sits on a 379sq m landholding in Hughenden St, which runs off SH2 to form Paeroa’s main street.
The antiques and collectibles business is on a lease expiring in 2019 (with three further three-year rights of renewal), generating a net rental of $33,000 plus GST pa.
Smith says from the pavement the exterior seems to portray two personas. “On the right-hand side is a traditional 1950s rural services town retail premises, with eye-level windows showcasing high turnover stock items designed to pique the interest of passing customers.
“On the left is a warehouse and workshop structure, which can be accessed from the street through two roller doors. It gives a more ”industrial” feel to the retail experience.
“The floorspace is seamless. The rafter-beam, corrugated iron ceiling portion of the building has an openplan retailing format adding functionality and character.
“The right hand side of the block has a more standard internal retail feeling, with a 2.5 metre false ceiling.”
Smith says though antiques and collectibles have boosted the town’s retail economy, its prosperity also increased dramatically over the past six years following the opening of the Hauraki Rail Trail.
“This broadened Paeroa’s tourist appeal significantly; it sits at the pivotal apex of the trail — connecting the northern Thames route with the eastern Waihi leg, and the Southern Te Aroha stretch.
“Business owners call this present era Paeroa’s ‘second gold rush’.”