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Fully-tenanted tradies industrial hub on the market

The land and buildings housing a substantial building trade services and automotive hub - in a provincial town renowned for its support of the heavy industry sector - have been placed on the market for sale.

The block of units at 5–9 Campbell Street in the South Waikato township of Tokoroa consists of 1,486 square metres of buildings sitting on some 3,036 square metres of flat freehold land, and is tenanted by a plumbing supplies wholesaler, an electrical supplies wholesaler, and a vehicle repair and parts workshop.

The Campbell Street property is situated in the heart of Tokoroa's trades services business precinct – with like-minded neighbours featuring such companies as Farm Source, Triangle ITM, Stihl Shop and Farmlands.

The U-shaped block at 5-9 Campbell Street comprises two single level L-shaped buildings providing both functional showroom and warehouse/workshop space, supported by their respective office facilities and amenities. Combined, the property’s tenancies generate net annual rental of $117,218 plus GST.

The three tenancies comprise:
• Electrical wiring and switchgear company Corys Electrical Limited on a lease running through to 2021 with three further three-year rights of renewal generating net annual rental of $48,718 plus GST. Corys Electrical occupies some 636 square metres of space – including a 35-square metre mezzanine floor - and has access to 11 car parks.

• Plumbing supplies firm Mico Plumbing on a lease running through to 2022 with three further three-year rights of renewal generating net annual rental of $36,000 plus GST. Mico Plumbing occupies some 449 square metres of space – including a 23-square metre mezzanine floor - and has access to six car parks.
• Ford automotive service agency Barry Wood Automotive on one-year lease terms running through to 2024 generating net annual rental of $32,500 plus GST. Barry Wood Automotive occupies some 401 square metres of space – including a 31-square metre mezzanine floor - and has access to 10 car parks.

Now the freehold land and buildings at 5–9 Campbell Street in Tokoroa have been placed on the market for sale by negotiation through Bayleys Tauranga. Salespeople Brendon Bradley and Ryan Bradley said the property was zoned Tokoroa Business under the South Waikato District Council plan, and had a new build standards rating of 100 percent.

“With two nationally-branded tenants who have been operating from the Campbell Street location since the building was constructed in the late 1980s, and the local Ford parts garage which has been on site since around 2000, this is a very stable tenancy mix,” Brendon Bradley said.

“The two buildings within the block are constructed of reinforced concrete flooring, concrete block and timber framed external walls, with fibre cement and colour steel sheets, and galvanised steel and translucent plastic sheet roofing.

Ryan Bradley said both the property and its trio of tenants enjoyed a strong street profile, and all had a share of the location’s excellent on-site parking. The two buildings within the block are set back from Campbell Street.

Activities within the Tokoroa Business Zone include bulk goods retailers such as building supply firms and garden centres, along with car yards, service stations, supermarkets, along with engineering and light manufacturing firms.

Mico Plumbing is New Zealand’s largest plumbing, kitchen, bathroom and laundry
Specialist – with some 60 branches across the country. The brand has been trading in New Zealand since the 1940s.

Similarly, Corys Electrical is a nationwide distributor of electrical products and services to electrical contractors, industrial users and government. Part of the global Sonepar group, Corys Electrical employs more than 300 staff nationwide from 48 branches across both the North and South Island.

Meanwhile, Barry Wood Automotive Limted is a typical vehicle repairs garage – with mechanics working on the maintenance and repair of car engines and electrical systems. It is also Tokoroa’s Ford parts dealership.

Tokoroa has a population of some 13,000 residents and is the administrative centre for the South Waikato District Council.

© Scoop Media

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