Scoop has an Ethical Paywall
Bay of Plenty Tyre Repair & Retailing Hub For Sale
Tyre repair and retailing hub placed on the market for sale
The land and buildings housing a branch of one of New Zealand’s leading tyre retailing and fitting businesses has been placed on the market for sale.
The corner property at 2 Belvedere Street in the Bay of Plenty township of Te Puke is currently leased to tyre retailer and fitting company Bridgestone New Zealand.
Bridgestone New Zealand Ltd was founded in 1998 following the merger of the Bridgestone and Firestone tyre companies. Bridgestone produced the first tyres in New Zealand, and is now the only tyre manufacturer in New Zealand.
Bridgestone branches nationwide – including the Te Puke operation - are responsible for automotive servicing and issuance of warrants of fitness, wheel aligning, wheel balancing, puncture repairs, and selling tyres for private, commercial, and heavy grade vehicles.
The Belvedere Street lease to Bridgestone in Te Puke runs through until 2018, with two further six-year rights of renewal. The lease generates an annual return of $36,300 plus GST.
The 809 square metre freehold property and 322 square metre building are being marketed for sale by private treaty through Bayleys Tauranga. Salesperson Brendon Bradley said the property had a high-profile frontage onto Jellicoe Street which was one of the town’s busiest routes.
He said the single-storey rectangular shaped building comprised multiple service bays where vehicles had their tyres removed, repaired or replaced, a large storage room, staff cafeteria and toilets, and administrative offices.
Mr Bradley said it was the first time in approximately 20 years that the property had come up for sale, and he expected investors would be attracted to the opportunity because of the strong reputation of the tenant, and the property’s prime corner location fronting onto a busy road.
ENDS
Bayleys Real Estate
New Zealand
Bayleys is New Zealand's largest full-service real estate company. We offer expertise in the marketing and sale of a wide range of property, including residential real estate, farms and lifestyle blocks, and commercial and industrial property. This includes tourism and business sales such as hotels and motels. We also cover the real estate markets in Fiji and other Pacific Islands.
Bayleys also provides a complete property and facilities service including property management and valuations teams focused on achieving both Owner and Tenant satisfaction.
No other real estate company can match our breadth of coverage across all market sectors throughout New Zealand.
Gordon Campbell: On bird flu, AUKUS entry fees and Cindy Lee
NZ Government: New Lab To Help Protect Key Pacific Tuna Fisheries
Susan Botting - Local Democracy Reporter: Ruawai Leader Slams Kaipara Council In Battle Over $400k Property
Te Pati Maori: Another ‘Stolen Generation’ Enabled By Court Ruling On Waitangi Tribunal Summons
Peace Action Wellington: Die In for Palestine Marks ANZAC day
Labour Party: Penny Drops – But What About Seymour And Peters?
Government: PM Announces Changes To Portfolios
