Seafood shop with home offers tasty opportunity on highway
The land and buildings housing a fresh and smoked fish and seafood retail outlet – complete with what could be an owner-occupier’s residence – located on one of New Zealand’s busiest highways have been placed on the market.
The property is located at 2288 State Highway 2 in the northern Waikato, which links Auckland, the Coromandel Peninsula and the western Bay of Plenty.
New Zealand Transport Agency figures show that on an average weekday, some 11,692 vehicles travel along this stretch in both directions.
The front of the 1702sq m property houses a business which produces high-end seafood dining options such as crayfish, smoked salmon, oysters in the shell, whitebait and paua.
It has a loyal customer base among Maramarua locals – many of whom patronise the venue after visits to the nearby Red Fox Tavern, Maramarua Rugby Club or the Maramarua or Hauraki Plains golf clubs.
Originally established as a butchery but converted into a seafood shop several years ago, the retail premises is situated immediately beside a small rural grocery and convenience store.
Both are accessed by a small slip road running off the highway, enabling customers to safely pull off the busy route.
Towards the rear of the site is a threebedroom dwelling and large garage, which are surrounded by large mature trees providing a degree of privacy and noise elimination from the nearby road. The home is currently vacant.
Combined, the 310sq m of commercial and residential tenancies generate annual rental of $45,240 when fully occupied.
The property has been retained within the current owner’s family for nearly 70 years and is zoned rural 1A under the Waikato District Council Plan.
The rectangular-shaped land and buildings, but not the seafood business, are being marketed for sale at auction on August 10 through Bayleys Hamilton. Salesperson Josh Smith said the property would appeal to both investors and owner-occupiers looking to take on the seafood business if it became available.
“For investors, this is a split risk opportunity in both the commercial retail and residential sectors.
“Alternatively, a new owner could look at taking over the fish and seafood business and incorporating the residential dwelling into their business model,” Smith said.
Smith said the fish and seafood business benefitted from year-round high traffic flows along busy SH2 — peaking over the summer period when many Aucklanders spent time at their Coromandel baches. The business is currently on a rolling month-to-month lease, with the opportunity for any new owner of the property to negotiate a longer term.
Meanwhile, the residential component was regularly tenanted on short to medium-term leases by dairy farm workers contracting around Maramarua.