Investors set to plough in as provincial farm supplies premises goes up for sale
The land and buildings which house a provincial branch of one of New Zealand’s largest farming supply firms has been placed on the market for sale.
The property is located in the South Waikato Township of Putaruru. Putaruru is a rural town
located approximately 67 kilometres south of Hamilton and is conveniently located to Rotorua and Cambridge.
The area has a strong forestry and agriculture base and is home to The Blue Spring along the Te Waihou River. These local icons are captured on the beautifully hand-painted road elevation of the property, specially commissioned by the tenant Farmlands Co-operative.
The building for sale at 9-13 Rolfe Way comprises a building area of approximately 852 square metres, sited on some 4,000 square metres of fee simple land which runs parallel to Taupo Street, State Highway One.
The high profile property was constructed in 2010 and was purpose designed and built for Farmlands. The rectangular-shaped building comprises 776 square metres of warehousing floor space and offices, 59 square metres of mezzanine level staff amenities including bathroom and kitchen facilities, and 17 square metres of mezzanine level storage space.
Outside, the site features concrete kerbing, approximately 3,000 square metres of concrete yard space, a concrete block retaining wall and security fencing.
Farmlands original lease term runs until 2023, with 14 further three-year rights of renewal, generating a net annual return of $165,000 plus GST. Outgoings are paid by the tenant.
Farmlands Co-operative was formed by farmers in 1962 and has since grown to become the largest buying group of its type in New Zealand, with transactions of more than $2.7 billion worth of business annually (FY 2019). As a consequence, it is one of New Zealand’s top 20 companies by turnover. The company employs some 1,400 staff, and the Putaruru branch is one of 82 branches nationwide.
The Putaruru outlet services clients radiating northward towards Okoroire, west towards Pukeatua, south towards Tokoroa and east along State Highway Five towards Mamaku.
The property is being marketed for sale by auction on September 17th 2020 through Bayley’s Cambridge. Salesperson Willem Brown said the Farmlands Putaruru branch was located in one of New Zealand’s prime dairying, sheep and beef regions – a factor reflected in the company’s strong commitment to the location.
“The configuration and positioning of the building were designed in conjunction with Farmlands as the original sole tenant, and therefore ensured all aspects of the company’s retailing services were catered for – from its open-plan shop format and high-stud ceiling through to the expansive fully fenced yard which is essential for the B-train truck and trailer units which are frequently on site,” he said.
The building is constructed with tilt slab walls, steel portals and aluminium joinery, while a full-height electric roller door allows access to the warehouse for delivery and customer vehicles – with a canopy over the entryway.
To ensure customer comfort, 13 suspended heaters are positioned over the shop floor alongside high-powered lighting. The building is fitted with fire and burglar alarm systems.
“Dairying, and sheep and beef production are the cornerstone industry sectors for the South Waikato region, and show no sign of abating. In addition to selling products and services to these sectors, Farmlands’ product range has expanded to encompass forestry, horticulture, viticulture, bee keeping and even into the lifestyle block market,” Brown said.
“All of these activities have been housed in the Rolfe Way premises - with its prominent street frontage, and the adjoining open yard space. Geographically, Putaruru is also in a strategic position – encircled on all compass points by agricultural activities.”
Neighbouring businesses in Rolfe Way include farm motorbike retailer The Honda Shop, and the refrigerated food distribution depot for Big Chill. The road is less than 100 metres from State Highway One .