Investors brush up as Dulux site on market
The freehold showroom and workshop housing an international paint giant have gone up for sale on the edge of Tauranga’s CBD.
The property on Second Ave is home to a Dulux Trade Centre serving retail and trade customers across the western Bay of Plenty.
DuluxGroup has fully occupied the site since 2016. Its tenancy generates total annual net rental income of $143,361 plus outgoings and GST on a lease that runs through to 2028.
With origins dating to 1918 as a provider of paint for Australian and New Zealand homes, DuluxGroup is today a leading manufacturer and supplier of a wide range of premium products, from household paints to industrial coatings for infrastructure such as bridges.
The group employs around 4000 people in Australia, New Zealand, Papua New Guinea, China, the UK and France.
In 2019, DuluxGroup became part of Nippon Paint Holdings, the world’s fourthlargest paint company and the largest in the Asia-Pacific region.
48 Second Ave is being marketed for sale by Lloyd Davidson and Rory Brown of Bayleys Tauranga. Sale will be by deadline private treaty closing on Thursday 28 April, unless the property is sold prior.
Davidson said the offering encompassed an approximately 643sq m building on
990sq m of Commercial-zoned land with 12 car parks.
The building consists of an attractive showroom of some 247sq m along with an approximately 350sq m warehouse plus mezzanine storage.
The structure has an A-Grade Initial Evaluation Procedure seismic rating.
“The showroom features extensive glazing to the front and the workshop is situated to the rear, providing a good ratio of showroom to workshop accommodation.
“An internal doorway leads from the showroom into the clear-span workshop area which has high-bay lighting and translucent panels providing for natural light.
“The workshop has an L-shaped layout with an automatic roller door to the southwestern end of the building and a loading bay outside.
“Another motorised roller door is situated to the northeastern end of the building off Second Ave, which enables drive-through access,” Davidson said.
The building has concrete foundations and floor, concrete-block external walls with fibre cement feature panels to the building’s frontage, and long-run roofing.
“The property has a tidy fit-out throughout and great street presence, and benefits from on-site car parking at the front and rear,” said Davidson.
Brown said the site fell within the City Centre zone under the Tauranga City Plan, with an allowable building height of 16m. Permitted activities include retail, offices, business activities, community facilities, schools and visitor accommodation.
“This high-profile trade centre site is surrounded
by other big-brand tenants along Second Ave, such as Repco, Mazda and Noel Leeming.
“Nearby amenities include a neighbouring medical centre and caf along with banks, retail shopping, restaurants and bars,” Brown said.
“Nearby Cameron Rd has attracted highprofile international fast-food restaurants and car dealerships. It is also a prominent location for local and national retailers, service providers and businesses thriving on great exposure.”