Hub has strong mix of tenants

The land and buildings housing a trade services and automotive hub South Waikato have been placed on the market for sale.

The block of units at 5–9 Campbell Street, in Tokoroa, consists of 1,486 square metres of buildings sitting on some 3,036 square metres of flat freehold land, and is tenanted by a plumbing supplies wholesaler, an electrical supplies wholesaler, and a vehicle repair and parts workshop.

The Campbell Street property is situated in the heart of Tokoroa's trades services business precinct.

The U-shaped block at 5-9 Campbell Street comprises two single level L-shaped buildings providing both functional showroom and warehouse/workshop space, supported by their respective office facilities and amenities.

Combined, the property’s tenancies generate net annual rental of $117,218 plus GST.

The three tenancies include: Corys Electrical Limited, which is on a lease running through to 2021 with three further three-year rights of renewal; Mico Plumbing, whose lease runsg through to 2022 with three further three-year rights of renewal; and Ford automotive service agency Barry Wood Automotive, which is on oneyear lease terms running through to 2024.

The property is being marketed for sale by negotiation by Bayleys agents Brendon Bradley and Ryan Bradley.

“With two nationally-branded tenants who have been operating from the Campbell Street location since the building was constructed in the late 1980s, and the local Ford parts garage which has been on site since around 2000, this is a very stable tenancy mix,” Brendon Bradley said.

Ryan Bradley said both the property and its trio of tenants enjoyed a strong street profile.