Investors gear up as a major North Island trucking hub is placed on the market for sale
One of New Zealand’s biggest truck-stop hubs – featuring multiple large workshops and storage warehouses, a tyre servicing plant, driver accommodation, a café, and vehicle washing yard – has been placed on the market for sale.
The Stag Park Truck Stop sits just a few hundred metres from the junction of the State Highway One bypass and the Napier-Taupo Highway on the outskirts of Taupo, in an area zoned for industrial land use.
The 4.35-hectre site is predominantly operated by Truck Stops New Zealand Limited, and contains some 4,500-square metres of buildings which include high-stud drive through warehouses, truck servicing workshops, a driver’s diner and adjoining driver accommodation units, and a residential dwelling.
The Stag Park Truck Stop hub is used 24/7 by some of the biggest truck and trailer haulage units running on New Zealand’s roads, as well as the ‘B-trains’ which feature two trailers linked together by a fifth wheel. The Taupo location enables drivers for numerous big trucking firms to ‘swap-In’ and ‘swap-out’ of their driving roles - depending on how many hours they have been behind the wheel, and where they are heading.
In total, the Taupo truck stop site is occupied by 12 individual tenancies – including parcel and package delivery firms Courier Post, and Fastways; foodservice supplier Goodman Fielder, Neils Tyres, and Sonic Wash. Several of the tenants occupy more than one portion of the truck park. Combined, the tenancies generate annual rental income of $347,222 plus GST.
The freehold land and buildings at 140 Napier Road are now being jointly marketed for sale by tender through Bayleys Tauranga and Bayleys Taupo, with tenders closing at 4pm on May 16. Bayleys salespeople Jim McKinlay and Gary Harwood said the sheer size of the Napier Road hub meant there were multiple development opportunities available to any new owner of the site.
“As a major stop-over point in the heart of the North Island, Stag Park Truck Stop is a convenient low-cost operation base for multiple national carriers,” Mr McKinlay said.
“While already operating successfully for several decades, the site contains considerable swathes of currently-unused flat land – which have the potential to sustain more building infrastructure, more vehicle parking amenities, and a greater number of support service businesses.
“That potential of course includes the opportunity to add to the amenities utilised by existing tenants to support their growth. The site’s strategic location so close to the intersection of two major motorways underpins its long-term viability as a truck-stop services hub.”
Mr McKinlay said the property was broken down into nine specific zones and business activity centres;
• Site One contains a 33-year-old warehousing facility leased to Truck Stops NZ Ltd for use as vehicle maintenance and repair workshops. Accessed by individual high-stud roller doors capable of admitting B-train trucks, the workshops include two engine and under-carriage inspection pits.
• Site Two contains a fuel-stop canopy previously occupied by BP but currently vacant.
• Site Three contains the truck stop restaurant serviced by a full commercial-grade kitchen, and accommodation block built some 38-years ago with extensions in 1991. Adjacent to the dining room are 11 units with their own shower and toilet amenities.
• Site Four contains a standalone residential dwelling used as a manager’s residence linked to the restaurant and accommodation units.
• Site Five contains a medium-sized multi-purpose warehouse storage shed subdivided into three separate tenancies.
• Site Six contains a purpose-built truck-washing facility with high-pressure pumps and a water treatment plant comprising a pair of 9000-litre underground water storage tanks with water filtration equipment.
• Site Seven contains a substantial 1,350-square metre storage shed used to accommodate B-trains which can access the building through any of eight roller door entrances, and exiting onto a large concreted external turning bay.
• Site Eight consisting of land occupied by Goodman Fielder which has built its own small goods reception and loading ramp facility. Goodman Fielder is currently in discussion with the site owner about rebuild and expansion plans of its premises.
• Site Nine consisting of the central truck parking space which is leased for both casual and long-term hire to a wide range of users.
Mr Harwood said the Stag Park Truck Stop could also be bought from an owner/operator perspective by either a trucking firm looking for new Central North Island premises from which to operate from, or by a trucking-services business looking for a high volume of customers regularly coming into its premises.
“Having the food and beverage and accommodation facilities on site means truckers can maximise the efficiency of their stop in Taupo. While they take a break for a meal or sleep, the associated service facilities within Stag Park Truck Stop mean maintenance or repairs to their vehicles can be undertaken without the need to technically withdraw their unit from producctive ‘time on the road’,” Mr Harwood said.
“Adding new vehicle servicing business tenants to those already operating on site would in turn cement Stag Park Truck Stop’s long-standing reputation in the road logistics market – thereby further underpinning it’s long term viability.”