Eye-catching beach with shopping block as bonus
A standalone Northland property with five commercial and one residential tenancy offering strong financial returns is for sale for the first time in 27 years.
The building is at 8-16 Coopers Dr, Coopers Beach. Barfoot and Thompson Kerikeri commercial specialist Regan Polglaze is marketing the property, which will go under the hammer on December 12 unless sold earlier.
Polglaze said there is already preauction interest, adding, “Commercial properties of this location, size and profile, right on State Highway 10, rarely come available.”
Situated between Mangonui and
Cable Bay, Coopers Beach is a fourhour drive north of Auckland. It offers over 2km of wide and level beach framed by Pohutukawa trees, making it one of the most eye-catching beaches in the Northland region and a strong drawcard for holiday makers.
The shops have been the heart of the Coopers Beach community since they were built in 1980 and the location could not be better. The building is in a cul-de-sac on gently sloping land less than a minute's walk to the beach.
The site was bought by the current owners in 1992 and comprises a 1993sq m concrete block building.
Over the years, the site has grown to become a community hub. This is borne out by the fact that much of the leasing for the holding has been through word of mouth.
All five retail spaces are fully leased (comprising a mixture of longestablished and new tenants) and are currently returning over $81k net plus GST in rent per annum.
They comprise a pharmacy, gym, real estate agency, and butcher’s shop with a takeaway food outlet at the side of the building. Each retail space offers open plan floor plates, providing tenants with flexible workplace options.
The residential unit on the upper level is a two-bedroom, open plan residence with a large balcony offering ocean views.
The property is being offered at a time of strong population growth in the Northland region (above the national average), which puts the holding in a position to achieve solid capital and rental gains in coming years.
Additionally, there is ample on-site parking and the site gets heavy passing traffic. The building also houses an ATM and is directly opposite the area's major supermarket and medical centre.
The property has been tightly held by the same family for over a generation, so this is a rare opportunity to secure an investment that is generating strong cash flow in a well established commercial location.
More importantly, there no other commercial sites of a comparable size in the region and, given its beach front proximity, it has the potential to be developed into something truly amazing.
With a history of solid financial returns, this Coopers Beach site offers long-term sustainable growth from both an investor and developer perspective.