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Investors Brush Up As Dulux Site Goes Up For Sale In Tauranga CBD
The freehold showroom and workshop housing an international paint giant have gone up for sale on the edge of Tauranga’s CBD.
The property for sale on Second Avenue is home to a Dulux Trade Centre serving retail and trade customers across the western Bay of Plenty.
DuluxGroup has fully occupied the site since 2016. Its tenancy generates total net rental income of $143,361 plus outgoings and GST per annum, on a lease that runs through to 2028.
With origins dating to 1918 as a provider of paint for Australian and New Zealand homes, DuluxGroup is today a leading manufacturer and supplier of a wide range of premium products, from household paints to industrial coatings for infrastructure such as bridges.
The group employs around 4,000 people in Australia, New Zealand, Papua New Guinea, China, the UK and France.
In 2019, DuluxGroup became part of Nippon Paint Holdings, the world’s fourth-largest paint company and the largest in the Asia-Pacific region.
The property at 48 Second Avenue, Tauranga, is being marketed for sale by Lloyd Davidson and Rory Brown of Bayleys Tauranga. Sale will be by deadline private treaty closing on Thursday 28 April, unless the property is sold prior.
Davidson said the offering encompassed an
approximately 643-square metre building on 990 square metres
of commercial-zoned land with 12 car parks.
The building consists of an attractive showroom of some 247 square metres, along with an approximately 350-square metre warehouse plus mezzanine storage.
The structure has an A-Grade Initial Evaluation Procedure seismic rating.
“The showroom features extensive glazing to the front and the workshop is situated to the rear, providing a good ratio of showroom to workshop accommodation.
“An internal doorway leads from the showroom into the clear-span workshop area which has high-bay lighting and translucent panels providing for natural light.
“The workshop has an L-shaped layout with an automatic roller door to the southwestern end of the building and a loading bay outside. Another motorised roller door is situated to the north-eastern end of the building off Second Avenue, which enables drive-through access,” Davidson said.
The building is constructed with concrete foundations and floor, concrete-block external walls with fibre cement feature panels to the building’s frontage, and long-run roofing.
“The property has a tidy fitout throughout and great street presence, and benefits from on-site car parking at the front and rear,” said Davidson.
Brown said the Second Avenue site fell within the City Centre zone under the Tauranga City Plan, with an allowable building height of 16 metres. Permitted activities include retail, offices, business activities, community facilities, schools and visitor accommodation.
“This high-profile trade centre site is surrounded by other big-brand tenants along Second Avenue, such as Repco, Mazda and Noel Leeming. Nearby amenities include a neighbouring medical centre and café along with banks, retail shopping, restaurants and bars,” Brown said.
“Nearby Cameron Road has attracted high-profile international fast-food restaurants and car dealerships. It is also a prominent location for local and national retailers, service providers and businesses thriving on great exposure.
“The Elizabeth Street carparking building and Tauranga’s main bus stop on Wharf Street are within a few minutes’ walk.”
Brown said the location on Second Avenue enabled easy access to arterial and motorway interchanges servicing the western, northern and eastern Bay of Plenty.
“Being close to the Elizabeth Street intersection makes for easy access in and out of Tauranga, Mount Maunganui, the Port of Tauranga and to main arterial routes via Takitimu Drive.”
Bayleys Real Estate
New Zealand
Bayleys is New Zealand's largest full-service real estate company. We offer expertise in the marketing and sale of a wide range of property, including residential real estate, farms and lifestyle blocks, and commercial and industrial property. This includes tourism and business sales such as hotels and motels. We also cover the real estate markets in Fiji and other Pacific Islands.
Bayleys also provides a complete property and facilities service including property management and valuations teams focused on achieving both Owner and Tenant satisfaction.
No other real estate company can match our breadth of coverage across all market sectors throughout New Zealand.
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