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Far north opportunity awaits with national brand tenant

Far north opportunity awaits with national brand tenant

A strategically located and prominent site with blue-chip tenant Bunnings in one of the country’s growth regions, presents a rare opportunity for buyers to purchase a property with long-term upside.

7 Fairway Drive in Kerikeri has a land area of 4,389sq m, and the premises includes a 1,544sq m bulk retail warehouse, 125sq m of office space, and a 331sq m garden centre and awning. There are multiple loading docks and ample storage space.

The site also has the advantage of a service lane down the south-eastern boundary and an access way along the south-western boundary.

The property is located on the southern corner of Fairway Drive and Homestead Road and offers multiple access points with plenty of parking for customers, while it is only 3.3km north-east of State Highway 10, which is the main traffic route north.

Bunnings recently renewed their lease for a term of four years, and they have two further rights of renewal for four-years with a final expiry in July 2033.

Bunnings is Australia and New Zealand's leading retailer of home improvement and outdoor living products, and a major supplier to project builders, commercial tradespeople, and the housing industry. Revenue across the 2020 financial year totalled $14.9 billion.

Colliers has been jointly appointed to market the property for sale by deadline private treaty closing at 4pm on Tuesday 24 August, unless sold prior.

Matt Prentice, Industrial Sales and Leasing Director at Colliers, says the opportunity to acquire a property with a strong tenant covenant is one not to be missed.

“Fairway Drive is part of the Kerikeri retail area one-way roading system, which channels a high volume of traffic past this location,” Prentice says.

“The combination of a highly accessible site and a nationally recognised tenant with enticing lease terms, makes this a must-see listing.

“The property is in the heart of the town's CBD, which itself has become the centre for the Far North region. The Far North District Council is in Kerikeri, alongside key government agencies and many of the business services for the region like engineers, surveyors, and accountants.”

Nigel Ingham, Director of Colliers Whangārei, says the site provides long-term security for buyers, whilst also offering development potential for the future.

“The property is zoned Commercial under the Far North District Plan, which allows the development of the site and building to suit a diverse range of uses, including large box retail, office, hospitality, or accommodation. It is likely that future approval would be given for a multi-story development in this location.

“The complex was built in 1980 and has had a number of additions during the past 30 years having served multiple purposes. The site is modern with mezzanine offices and amenities with high-quality workmanship throughout.

“There are two air conditioning units, an air ventilation unit to the bulk retail area, and fire sprinklers throughout the retail and office amenity areas.

“Kerikeri is the centre of the Far North region, one of the country’s high growth areas, and is a popular location for many returning ex-pats or retirees. The beaches, sub-tropical climate and laidback lifestyle will continue to attract new arrivals to the town, which is only a 50-minute flight from Auckland.”


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Matt Prentice

Director

Auckland North

Matt joined Colliers International in 2006 with a focus on mid to upper end industrial & investment transactions.  Specialising in tenanted investments, occupier representation through to vacant land / building sales on the North Shore, Matt was promoted to a North Shore Director in 2015.

In 2011 and 2012 Matt was awarded the "Golden Gavel" for Colliers New Zealand as the most successful auction sales broker across Colliers New Zealand. Matt has been the number one North Shore sales and leasing broker, 2011, 2012 and 2013.  In 2012, was a top 20 performer across Colliers New Zealand and has over $550 million of sales since joining colliers International.

In 2013, Matt was in the top 10 Highest Performing Brokers Nationwide and in 2014, he had a record year completing more than 50 transactions, and  finished in the top 10% of brokers in New Zealand.

In 2015, Matt completed over 60 transactions, more than any broker North of the Bridge, again finishing in the Top 20 brokers in New Zealand.

In 2016, Matt had a record year finishing top 10 in the country and was the top broker on the North Shore. 

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Nigel Ingham

Director | Whangarei

Whangārei

Nigel heads up Colliers NZ Northland business. He is a proud Northlander, it’s in his blood being a Ngāti Kahu and a descendant of Hone Wi Kaitaia.

Nigel joined Colliers in 1998, through his persistence and tenacity he quickly established himself as a key person in the market.

In 2003, Nigel was promoted and took on the responsibility of heading up the Colliers NZ, Auckland Industrial Business. He was instrumental in growing and developing the Colliers NZ Industrial business into the dominate agency that it is today.

In 2010 Nigel was promoted and relocated to China to take on the challenge to grow Colliers East China Industrial Business. At the time he started the team was positioned 5th in the market.  As well as learning to speak, read and write Chinese, under his leadership his team’s revenue compound annual growth rate was 57% and they became the dominate agency in East China.

In 2020 Nigel was offered the role to relocate to Northland to set-up and establish Colliers NZ Northland business and he jumped at the opportunity. Moved his family to Whangārei and launched the business Feb 2021.

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