Rural services hub for sale
A block of fertile rural farmland sustaining an industrial hub of agriservice companies - as well as producing commercial quantities of stock-feed crops - has been placed on the market for sale.
The property at 4711-4715 State Highway 29 near the Waikato township of Matamata consists of three separate land titles - comprising various warehousing structures along with a substantial truck yard and vehicle maintenance amenities in one portion of the block, and a large inground feed supply pit and rural activities being undertaken on the remainder of the land.
In addition, the property also sustains a modern four-bedroom/ two-bathroom home on some 7,074 square metres of land. Extensively refurbished in 2013, the upmarket residence has open-plan living areas, a wrap-around deck with outdoor entertaining space and is available with vacant possession.
A separate three-bedroom villa has been converted into administrative office space which is utilised by one of the four commercial tenants.
A further cottage is leased on a rolling residential tenancy for $400 a week.
A shared driveway off State Highway 29 links the various arms of the property together - creating a central entry and exit point for the multitude of tenants, their clients and suppliers.
The State Highway 29 property located some 10 kilometres from Matamata is zoned Rural 1A under the Matamata Piako District Council plan.
Now the land, tenanted buildings and infrastructure within the property are being marketed for sale by tender through Bayleys Hamilton, with tenders closing on August 6.
Salespeople Josh Smith and Rebecca Bruce said it was unusual for a rural landholding to contain so many commercial tenancies - aside from producing livestock feed, and containing a substantial residential dwelling all operating independently of each other.
The tenancies generate a combined annual rental income of $283,614, and include:
- Agricultural research and feed supplier AgVision on a current lease running through to 2024 with two further two-year rights of renewal generating rental of $116,000 plus GST per annum;
- Wood shavings and sawdust wholesaler Animal Bedding Supplies on a current lease running through to 2021 with one further one-year right of renewal delivering annual rental of $60,000 plus GST;
- Family-owned agricultural services and stock-feed production firm John Austin Ltd on a rolling monthly lease generating annual rental of $46,814 plus GST; and
- Winton Stockfeed Ltd on a current lease running through to 2022 with two further five-year rights of renewal generating annual rental of $40,000 plus GST.
“It is rare that a property with this much to offer from a multiple revenue stream perspective comes to the market,” said Smith.