Antique shop premises up for sale set to be a highly collectable piece of real estate
The land and building housing a well-established knick-knack and household collectibles shop - in a town renown as an antiques and collectables retail hub - has been placed on the market for sale.
The single-storey commercial property at 4 Hughenden Street in the Waikato township of Paeroa is home to the heritage and heirloom retail business known as Pioneer House.
There are some 20 antique and collectible shops in Paeroa township, with such quaint names as Granvilles and Arkwrights – both based on characters who featured in the classic BBC Comedy Open All Hours – along with aptly named Yesterday and Today, Pandora’s Closet, and Junk and Disorderly.
The conglomeration of antiques, knick-knack and household collectibles outlets has established Paeroa’s point of difference in provincial Waikato.
The retail entity known as Pioneer House has occupied its town centre site for some 20 years, and is part of Paeroa’s antique traders network. Hughenden Street runs off State Highway 2 - which forms Paeroa’s main street.
Paeroa sits strategically in the middle of the ‘Golden Triangle’ economic region – with Auckland some 109 kilometres away, Hamilton 71 kilometres away, and Tauranga 78 kilometres away.
Shopper profile analysis by Bayleys Research reveals that the town was viewed as a ‘day-trip destination’ by residents living in Hamilton and Tauranga, and as a ‘transit stop off’ destination for Auckland motorists heading between the Eastern Coromandel, coastal Bay of Plenty, and Rotorua regions.
The freehold land and Pioneer House building at 4 Hughenden Street are now being marketed for sale at auction at 11am on December 6 by Bayleys Hamilton. Salesperson Josh Smith said the 379 square metre building sat on 379 square metres of land in the heart of Paeroa,
The Pioneer House antiques and collectibles business is currently on a lease expiring in 2019 with three further three-year rights of renewal, generating a net rental of $33,000 plus GST per annum.
Mr Smith said that from the pavement, the exterior design and construction of the Pioneer House building portrayed two different personas.
“On the right-hand side is a traditional 1950s New Zealand rural services town retail premises – with eye-level windows showcasing high turnover stock items designed to pique the interest of passing customers and lure them into entering the premises,” Mr Smith said.
“Beside that ‘half’ of the shop is more of a 1950s style warehouse and worshop structure which can be accessed from the street through two roller doors. It portrays a more ‘gritty’ and ‘industrial’ feel to retail experience. Internally, the building’s floorspace is seamless.
“The rafter-beam, corrugated iron ceiling portion of the building has an open-plan retailing format which adds both functionality and character to the whole second-hand and collectibles stock on display within Pioneer House,” Mr Smith said.
“Comparatively, the right hand side of the block has a more standard internal retail feeling – with a 2.5 metre false ceiling.”
Mr Smith said that while the antique and collectibles reputation had been a highly successful marketing initiative for Paeroa’s retail economy, the town’s prosperity had also increased dramatically over the past six years by piggybacking off the opening of the hugely popular Hauraki Rail Trail – an attraction which had considerably broadened the town’s tourist appeal.
Paeroa township sits at the pivotal apex of the trail – connecting the northern Thames route with the eastern Waihi leg, and the Southern Te Aroha stretch.
“Antique and collectible businesses in the town, such as Pioneer House, are calling this Paeroa’s ‘second gold rush boom period’ in reference to when the rich seams within the Karangahake Gorge were yielding huge amounts of gold in the late 1800s. Only this boom is far more sustainable,” he said.