Kaikohe: where someone might get a bargain
The Far North town centre site which has been home to a landmark The Warehouse store for over two decades has gone up for sale.
The iconic Kiwi retailer’s store has traded in the heart of Kaikohe since 2003. It sits in a pivotal location alongside Countdown and McDonald’s within the regional service town’s commercial hub.
The Warehouse store plus a smaller building leased to a community health advice charity generate a total net annual rental return of $340,000 plus outgoings and GST, with built-in market rent reviews every three years.
Open 8am to 8pm daily, the Kaikohe store brings in customers from the town and surrounding areas with The Warehouse’s popular offering of wide-ranging products at low prices.
The freehold land and buildings at 39 Station Rd, Kaikohe, are being marketed by Lia Pauley and Ben Clare of Bayleys Real Estate, by deadline sale closing on Friday March 8.
Pauley said the buildings with a total floor area of some 3377sq m on nearly 7200sq m of Commercialzoned freehold land.
“Customers, staff and the business alike benefit from the spacious and well-presented retail building, along with an extensive carpark and drivearound delivery amenity. It has been well maintained, ensuring it projects an attractive and eye-catching presence and minimising the risk of significant maintenance costs to a new owner.”
Clare said the property benefited greatly from its strategic location within a heavily frequented retail complex in the middle of town. “The combined drawing power of iconic brands creates a centre of gravity that pulls in customers from across town and well beyond and assures this area of consistent foot traffic.
“The proven, longstanding presence of blue-chip tenant The Warehouse in this prime location makes this a passive investment opportunity of the highest calibre – and one that’s sure to pique the interest of buyers far beyond Northland,” Clare said.
Kaikohe’s population swelled by 15 per cent in the five years to the 2018 Census and is now estimated around 5000.
It is the largest town in the Far North District and an important provincial service centre for a community underpinned by agriculture, forestry and related industries. The town serves people from surrounding areas with essential amenities such as schools, retail and healthcare.