Hive of activity over Mānuka honey site
The land and building housing the regional operations hub for one of New Zealand’s foremost honey harvesting and retailing companies, along with a storage depot for a large farm nutrient supplies firm, has been placed on the market.
The Te Awamutu site features a 1885sq m building sitting on 5126sq m of freehold flat land surrounded by security fencing.
The modern warehousing and administrative premises at 249 Bruce Berquist Drive is in the heart of the Waikato town’s industrial precinct.
Mānuka Health occupies the rear 1125sq m portion of the premises, while the middle 600sq m of high-stud concrete-floored warehousing is occupied by Fertco soil fertiliser and nutrients supply company.
The remaining 160sq m of office space at the front of the property is occupied by a private commercial services company. Sealed parking and vehicle access yards encircle the single-storey building on three sides.
The core of the building was constructed 12 years ago and has been added to as its tenants’ activities expanded. That tenancy growth and the building developments have maximised land-use efficiency.
The freehold land and building at 249 Bruce Berquist Drive in Te Awamutu are for sale at auction on Thursday, September 29, through Bayleys Hamilton.
Salesperson Josh Smith said the modern easycare property was a straightforward investment opportunity sustained by three separately operating tenancies.
Smith said Mānuka Health’s lease included parking spaces for 10 vehicles. The two warehousing portions in the middle and rear of the building are individually serviced by full height roller doors – allowing for access by large delivery trucks, while the expanse of sealed yard space allowed for outdoor pallet storage.
The property generates annual rental of $258,000 plus GST and operating expenses, with the tenancies comprising:
Mānuka Health NZ on a lease running through to 2027 with two further 30-month rights of renewal
Fertco Ltd on a lease running through to 2025 with three further three-year rights of renewal
A private commercial services company on a fixed-term lease.
The rectangular-shaped property is zoned commercial 8A under the Waipā District Council plan and is surrounded by similar industrial tenancies including a bus depot, several automotive repair and maintenance workshops, farm product depots, animal husbandry companies and civil works yards.
“Mānuka Honey and Fertco are utilising the Bruce Berquist Drive premises as cost-effective warehousing storage facility. With both firms growing their operations in the Golden Triangle of Auckland/ Hamilton/Tauranga, the location perfectly underpins their business operations,” said Smith.
“Te Awamutu – like Cambridge and Morrinsville elsewhere in the Waikato – is increasingly being seen by Hamilton and Waikato-centric firms as a more cost-effective provincial location in which to be operating from compared to suburban Hamilton zones with their higher land costs and greater traffic congestion.”