Location to fuel buyer interest
The land and buildings housing a Caltex service station on a long-term lease have gone up for sale in Northland.
The freehold property for sale is positioned in the heart of Dargaville, on a corner site with wide frontage to SH12, providing excellent exposure to both local and through traffic.
The premises at 1-9 Normanby St operates a 24-hour Caltex service station with petrol and diesel pumps, LPG bottle fills, a shop and touchless car wash.
The service station has occupied the site for over 20 years, and has approximately eight years to run on the current lease term. Further rights of renewal, if exercised, would extend this through to 2047.
The property currently generates net rental income of $158,326 plus outgoings and GST per annum, on a lease that incorporates two-yearly CPI increases and a review to market on renewal.
The land and buildings are now being marketed for sale by a tender closing at 4pm on Wednesday 28 July unless sold prior, through Bayleys Auckland Central and Bayleys Whangarei.
Salespeople Damien Bullick, Alan
Haydock and John Haselden said the approximately 3412sq m landholding contained buildings with a total floor area of some 365sq m, excluding the forecourt canopy.
Originally constructed in the 1990s, the service station today encompasses a 290sq m retail building, plus a carwash structure and storage and plant buildings, Bullick said.
It was positioned at the southern end of Dargaville’s main retail strip, with excellent access via four entry and exit points from Normanby and Victoria streets.
“The property enjoys superb exposure thanks to more than 100m of street frontage, around half of this being along Normanby St which doubles as SH12 at this location,” said Bullick.
The site is zoned Business – Commercial by Kaipara District Council. This zone incorporates the existing commercial areas, and generally supports shops, offices and retail activities with a building height up to 12m.
“The service station’s 24/7 operation helps to maximise the tenant’s revenue by catering to a considerable population of shift workers employed in nearby commercial and industrial precincts,” Haydock said.
Located about 55km southwest of Whangarei and a bit over two hours north of Auckland, Dargaville’s local economy is supported by surrounding dairy, sheep and beef farms, plus an extensive plantation forest industry.
Haselden said the town was also a gateway to popular visitor attractions including Baylys Beach, Kai Iwi Lakes and Waipoua Forest, home of Tane Mahuta, New Zealand’s largest kauri tree.