A highly prominent property in the bustling trade retail area of Rotorua occupied by leading national retailer Supercheap Auto has become available to purchase.
Colliers has been appointed to market the property at 3 Waterford Street, Mangakakahi, Rotorua for sale by Deadline Private Treaty – closing at 4pm Thursday 8 April 2021, unless sold prior.
Broker Mark Rendell of Colliers in Rotorua, who is marketing the property, says this is a fantastic opportunity to secure a well-known, highly visible property tenanted by a popular, long-established national retailer with a long lease in place.
Supercheap Auto is a specialty retail business, specialising in automotive parts and accessories, stocking a wide range of tools and accessories.
Rendell says “with the Super Retail Group brand established in 1972, Supercheap Auto has grown into a major specialist retailer with over 300 stores across Australia and New Zealand and more than 3,800 team members.
“In November 2003, Supercheap Auto opened its first seven stores in New Zealand on the same day with over 13,000 customers visiting the stores during the first two days of trading.
“Supercheap Auto currently has over 40 stores trading in New Zealand.”
“The popular, long-established national tenant has been trading from 3 Waterford Street since 2004 and they have just renewed the lease for a 5-year period from December 2021 with final expiry at the end of 2032.
The net return of the property is $155,743 plus outgoings and GST per annum and incorporates annual CPI rental increases, with a market review in December 2026.
Rendell also notes that the top quality, modern and well-maintained building enjoys ample parking and great access onto the roundabout on State Highway 5, Old Taupo Road.
“The property is in an unbeatable spot, positioned on a wide corner site in Rotorua’s bustling trade retail area.
“The property will be well-known to all in the area given its prominent position on State Highway 5, Old Taupo Road.
“The property is right opposite Bunnings, with other high-profile neighbours including BNT, Battery Zone, J.A. Russell and NZ Post.”
Positioned in the Bay of Plenty region which recorded the second fastest regional growth in New Zealand between the 2013 and 2018 censuses, Rotorua’s population is now approximately 72,500.
Rotorua is one of New Zealand’s most diverse economies including forestry and wood processing, tourism, geothermal, agribusiness, education, health, manufacturing and social services.
Central to all North Island arterial trunk routes, Rotorua is the hub for transport and commuters travelling north to Auckland and Hamilton, south to Taupō and Wellington, or just over the hill to Tauranga and Whakatāne. Rotorua regional airport is just 15 minutes’ drive from the city with connections to major cities.
“Positioned just outside of the golden triangle of Auckland, Hamilton and Tauranga, Rotorua reaps many of the benefits of proximity but without the excessive price tag.
“Given the high demand for well-tenanted investment stock across the country, we expect strong demand from local and out-of-town investors looking for a ‘Super-affordable’ deal,” says Rendell.