Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


High-profile café and commercial retail block for sale

A block of retail and commercial units overlooking one of the country’s busiest state highways in a well-known arts-and-crafts Waikato township has been placed on the market for sale.

The seven-unit site and adjoining residential flat at 29 Main Road Tirau – a township linking Hamilton, Tauranga and Rotorua – sits on State Highway One. The motorway has a 50 kilometre-per-hour speed limit through Tirau town centre – effectively acting as a ‘brake’, encouraging motorists to stop at the town’s numerous cafes, or craft and antique shops.

The freehold land and buildings at 29 Main Road are now being marketed for sale at auction at 11am on December 6 by Bayleys Hamilton. Salespeople Rebecca Bruce and Jason Kong said the property sustained three buildings – two housing the retail and accommodation components, and the elevated building housing the Bugger Cafe.

Ms Bruce said the 438 square metres of shops and commercial buildings were situated within the Tirau town centre 8B zone, sitting on some 1,739 square metres of L-shaped land - containing a well-balanced mix of tenancies whose core business activities serviced both passing motorists, and Tirau locals.

Ms Bruce said activities permitted under the town centre classification included retailing, food and beverage operations, offices, education businesses, and healthcare facilities. The various buildings within the Main Road property have new build standards ratings of between 75 and 90 percent.

She said the seven tenancies within the block generated a combined annual net rental income of $87,000 + GST. The property also encompassed parking for cars – both to the side of the cafe, and down the rear of the site and sides accessing the other tenancies. Additional substantial unmetered parking was also available along the length of Main Road in both directions immediately in front of the property.

The seven tenancies encompass:
• Bugger Café in a 150-square metre site on a current three-year lease expiring in 2021 with two further three-year rights-of-renewal
• Real estate firm Rural Lifestyle and Sales in a 102-square metre site currently on a three-year lease expiring in 2021 with one further three-year rights-of-renewal
• The Christmas Heirloom Company shop in a 38-square metre site on a current two-year expiring in 2020 with two further two-year rights-of-renewal
• The Motivator Ltd in a 42-square metre site with a current two-year lease expiring in 2020 with one further three-year right-of-renewal
• Skinique Beauty Therapy in a 42-square metre site with a current one-year lease expiring in 2019 with two further one-year rights-of-renewal
• South Waikato Industrial Automation Ltd in a 42-square metre site with a current two-year lease expiring in 2019 with one further two-year right-of-renewal
• A one-bedroom flat is tenanted on a monthly lease.

Mr Kong said South Waikato District Council’s Operative Plan for Tirau identified the town’s main street as a location for high quality boutique retail properties catering to both passing travelers and the local population – sustaining a “country village character rather than a slice of big city.”

“The town centre zone intends to retain the existing attributes of Tirau to ensure it remains a pleasant place for people to stop and wander from shop to shop,” Mr Kong said.

“These attributes are based on a streetscape consisting of mainly small single-storey shops (rather than nationwide corporate chains), and a range of boutique retail stores presenting an attractive form to the street _ with space and scope for entertainment and street activities along the paved and grassed frontages of the main thoroughfare.

“The property at 29 Main Road and its tenancy schedule totally reflects this framework. The quality of retail premises within the Main Road strip are important parts of the success of Tirau as a boutique retail centre. The main street of Tirau is also State Highway One and performs a key role in the transportation network of the district and wider region.”

A block of retail and commercial units overlooking one of the country’s busiest state highways in a well-known arts-and-crafts Waikato township has been placed on the market for sale.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Stats NZ: Largest Drop In Terms Of Trade In A Decade As Dairy Export Prices Sour

Lower export prices for dairy, meat, and logs in the September 2020 quarter led to the biggest drop in terms of trade since June 2009, Stats NZ said today. Export prices fell in the September 2020 quarter, down 8.3 percent from its highest ever ... More>>


Stats NZ: Election Boosts October Job Numbers

Job numbers were boosted by general election staff in October 2020, along with rises in the manufacturing, retail, and hospitality industries, Stats NZ said today. Filled jobs rose by 27,667 to 2.2 million in October 2020 compared with September, after ... More>>

Government: New Year Border Exception For Seasonal Workers In The Horticulture And Wine Industries

2000 additional RSE workers to enter New Zealand early next year employers must pay these workers at least $22.10 an hour employers will cover costs of managed isolation for the RSE workers RSE workers will be paid the equivalent of 30 hours work a week ... More>>


Media: Discovery, Inc. Completes Acquisition Of New Zealand’s Mediaworks TV Ltd

Auckland, New Zealand, December 1, 2020 - Discovery, Inc. (“Discovery”), the global leader in real-life entertainment, has completed its acquisition of New Zealand’s leading independent free-to-air commercial broadcaster, MediaWorks TV Ltd, now operating ... More>>

Department Of Conservation: Big Year Underway At Albatross Colony

Familiar faces are returning for the new season of Royal Cam, with a big breeding year underway for the toroa/northern royal albatross colony on Otago’s windswept Pukekura/Taiaroa Head. More than 120 albatrosses, a taonga species, have returned ... More>>

Real Estate: ASB Survey Reveals Majority Of Kiwis Expect House Prices To Keep Climbing


House price expectations are soaring as New Zealand’s housing market shifts up a gear. But stretched affordability is putting a dent in perceptions of whether it’s a good time to buy. While Kiwis reveal they do expect interest rates to fall further. ... More>>

Stats NZ: Births And Deaths: Year Ended September 2020

Births and deaths releases provide statistics on the number of births and deaths registered in New Zealand, and selected fertility and mortality rates. Key facts For the year ended September 2020: 57,753 live births and 32,670 deaths ... More>>