Buyers primed for paint firm’s outlet
A Tauranga city-fringe site housing a renowned New Zealand paint supplier has been put up for sale.
The single-storey retail/trade premises on a 1600sq m freehold site in Judea is home to a Resene ColorShop outlet.
The Judea ColorShop on Waihi Rd is open seven days, offering paints, wallpapers and decorating accessories, plus a colour consultant service and specialist supplies for automotive and light-industrial customers.
Resene occupies the site on a lease that runs through to 2025 with two further sixyear rights of renewal.
Its tenancy generates an annual net rental income of $153,777 plus GST and all outgoings.
The freehold land and building at 47B Waihi Rd, Tauranga, is being marketed for sale by family sales team Ryan, Lynn and Brendon Bradley of Bayleys Tauranga.
Sale will be by auction on Wednesday 28 September, unless sold earlier.
Ryan Bradley said the offering comprised an approximately 689sq m building with an A-grade seismic rating on a Commercial-zoned site of some 1616sq m.
“The property has been developed with a sizeable single-level commercial premises with a retail showroom, commercial trade warehouse and automotive warehouse together with offices and staff amenities.”
Lynn Bradley said the site was superbly presented and conveniently supported by 21 onsite carparks and dual access from busy arterial Waihi Rd and Oak Lane.
“This prime asset enjoys the benefits of a strategic location just minutes from the Tauranga CBD, in the tightly held Judea commercial/industrial precinct.”
Brendon Bradley said the property was positioned on the northern side of Waihi Rd, a main arterial linking to 11th Ave.
“This locality benefits hugely from its excellent accessibility to main roads including Takitimu Drive (SH2) connecting Tauranga with Mt Maunganui by way of the harbour bridge.
“As such, the tenant business is able to draw from a wide catchment across the city.
“With a top-shelf national tenant and quality lease covenant, this property is sure to generate considerable interest among buyers seeking a passive investment in one of New Zealand’s fastest-growing regional centres,” said Bradley.