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Buy one or double up on prominent freehold Whangārei properties with high-quality national tenants

Buy one or double up on prominent freehold Whangrei properties with highquality national tenants

Two premium grade freehold sites occupied by national-branded tenants are on the market in Whangārei, presenting an exciting opportunity to invest in one of the country’s fastest-growing regions.

Strategically positioned with a distinguished profile in central Whangārei, 4 and 6 Gumdigger Place can be purchased either individually or combined.

Both locations have prominent tenants, and 6 Gumdigger Place presents a split-risk investment opportunity with two tenants leasing the building.

Colliers has been appointed exclusively to market the properties for sale by deadline private treaty closing at 4pm, Thursday 12 August, unless sold prior.

Number 4 Gumdigger Place is leased by The Tile Depot, returning $106,150 net plus GST per annum with a personal guarantee on the lease.

This property has a land area of 2508sq m and benefits from two noteworthy street frontages with access points from Rewa Rewa Road and Gumdigger Place.

The retail premises measures 965sq m and the current lease expires in May 2023.

The Tile Depot, a proven market leader, is New Zealand’s only tile company to gain Consumer Trust Accreditation.

Number 6 Gumdigger Place, a 1806sq m site, is occupied by Furniture Zone and Kitchen Things and provides a combined net annual rental income of $116,618 plus GST per annum.

Furniture Zone, which has stores throughout the North Island, occupies a 443sq m building with a net annual rental income of $56,010 plus GST per annum.

Their three-year lease is up for renewal next year with a final expiry in November 2025.

Kitchen Things, a family-owned business with 17 locations throughout New Zealand, is the other tenant and recently renewed their four-year lease with two more rights of renewal of four years each.

Kitchen Things occupies a 551sq m showroom, returning a net annual rental income of $60,610 plus GST.

Nigel Ingham, Director of Colliers Whangārei, says the buildings present a range of opportunities.

“These are highly desirable buildings that are well located. Purchasers will recognise the advantageous features of this investment opportunity given their functionality and accessibility,” Ingham says.

“Further, both buildings are potentially under rented providing the potential for future upside.”

Ingham says now is the time to invest in Northland.

“Data from Infometrics tells us that Northland was the country’s second-fastest growing region in the September 2020 quarter with economic activity up 3 per cent,” Ingham says.

“Whangārei is the engine room of Northland’s economy, accounting for half the region’s GDP and these outstanding retail sites with national-branded tenants represent a fantastic opportunity for astute buyers.”

Gumdigger Place runs off Rewa Rewa Road, which connects State Highway 1 with downtown Whangārei.

Daniel Sloper, Broker at Colliers Whangārei, says this area is the central focus of the city’s trade and retail hub.

“With blue chip retailers Bunnings and Harvey Norman nearby, Gumdigger Place represents a premium location for the current tenants who will continue to experience growing foot traffic and potential customers in the area,” Sloper says.

“There are low vacancy rates nationwide for showroom trade retail opportunities meaning investors can buy with confidence.”

Both sites boast modern construction and are zoned Business 2 under the Whangārei District Plan. This zone allows for a business environment covering the business areas on the fringe of the Whangārei Central Business District and includes light industrial areas.

Jimmy O’Brien, Director of Colliers Auckland North, says investors should pay close attention to the growth in Whangārei.

“All of the information points to strong potential for further development in Northland and this area will continue to boom in the coming years,” O’Brien says.

“Prospective buyers should undertake due diligence as soon as possible to avoid disappointment.”


Related Experts

Nigel Ingham

Director | Whangarei

Whangārei

Nigel leads our Northland Commercial Real Estate Business. Based in Colliers Whangārei office, the team services the entire Northland region and is the only commercial real estate specialist in the area.

Nigel is a proud Northlander with a true passion for the region. It is in his blood.

                      Nō Peria ahau

                      Ko Maungataniwha tōku maunga

                      Ko Tokerau tōku moana

                      Ko Māmaru tōku waka

                      Ko Ngāti Kahu tōku Iwi

                      Ko Nigel tōku ingoa

 

Nigel focuses on sales and leasing of commercial property across the region, including industrial, office and retail assets from Wellsford through to Kaitaia, including Dargaville, Kerikeri, Kaikohe, Paihia and everywhere in between.

Nigel’s career in commercial real estate started 1996 with a chance meeting of Colliers Managing Director and current CEO, Mark Synnott. Nigel had previously owned and operated a car cleaning business, of which Mark was a client. Upon selling the business, Mark offered Nigel a role at Colliers.

Having started his own business from scratch, Nigel easily related to commercial property clients – the businesspeople that occupy (own or lease) commercial property. Nigel quickly established himself as a key industry expert in the Auckland commercial real estate market.

In 2009 Nigel took up the opportunity to relocate to China to drive Colliers industrial real estate business. Nigel successfully grew Colliers’ business in China as well as learning to speak, read, and write Chinese (我会说中文,我会读汉字还有我会写汉字。但是我现在搬回新西兰了,所以我的中文没有那么好)

Nigel is passionate about his role in advising clients to achieve their real estate objectives. Through his tenacity, persistence, and commitment to first class service, he has a solid client base.

To discuss your Northland commercial property opportunities, whether you’re interested in buying, selling, or leasing, contact Nigel today.

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Daniel Sloper

Broker

Whangārei

Daniel Sloper is a Commercial Sales and Leasing Broker, based out of the Whangarei office, servicing the wider Northland region. As a  born and bread Whangarei local, Daniel brings a love of the region to his work and is passionate about contributing to driving economic growth and opportunity.  Daniel is focused  on the selling and leasing of Commercial property in Whangarei and the greater Northland region, including industrial, office and retail asset classes from Wellsford through to Kaitaia, including Dargaville, Kerikeri, Kaikohe, Paiha and everywhere in between.

 Prior to  becoming a Commercial Broker, Daniel had a career  in the Royal New Zealand Navy, where his service included providing  humanitarian aid to Vanuatu after Cyclone Pam in 2015 and other assignments throughout New Zealand and overseas.

He has since received a Bachelor of Business with a major in Property through Massey University and spent some time as a Property Valuer, based in Whangarei, giving him an excellent level of insight into property values accross the region. As part of his studies, he was awarded the prestigious Marcus Kitt Colliers Bursary, a scholarship dedicated to the memory of Marcus Kitt, a former Colliers Staff member, awarded to a promising business property student at Massey University. Colliers was delighted to welcome a former winner to the Colliers team, on Daniels joining.

Daniel is a relatable and a highly motivated individual, which has led to strong personal and professional, relationships with an abundance of vendors and landlords throughout the Northland region. A collaborative operator, Daniel can help connect your opportunity to other local, national and international clients via Colliers networks.

Daniel is a very passionate Northlander who has always shown a particular interest in property. In his spare time, he enjoys fishing, diving, rugby, in fact any type of sport, and spending quality time with his young family and friends.

To discuss your Northland commercial property opportunities, whether you're interested in buying, selling or leasing, contact Daniel today.

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Jimmy O'Brien

General Manager | Director

Auckland North

Jimmy heads the Colliers North Shore team with a "lead from the front" approach. He specialises in both sales and leasing of commercial and Industrial Property, Now in his thirteenth year with  Colliers International he is constantly in the top 10 % of Colliers brokers.

A North Shore resident for over 40 years his local network and knowledge is extensive. Having come from a successful background of sales, marketing and manufacturing and a director of his own business for 20 years, Jimmy has built up a vast network of property developers, investors, architects, designers and corporate businesses both retail and commercial. With a broad knowledge as both a tenant and investor in the commercial property market his wide range of skills and extensive network will be an asset to any future clients.

Positions Held at Colliers:

March 2006: Industrial Broker

April 2008: Industrial Manager

July 2012: General Manager

February 2014: General Manager -Associate Director

June 2014: General Manager – Director

Through specialisation and a commitment to true team work, Jimmy and his team have sold property in excess of $1Billion and negotiated innumerable leases.

With a strong focus on finding property solutions for his clients, Jimmy has successfully represented AA Insurance, EasiYo Products, Sealegs, Johnson Controls, Electronic Navigation and Maxwell Marine to name a few.

Jimmy is consistently in the top 10% of Colliers brokers.

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