Superbly tenanted investment opportunity in popular tourist town
Ōhākune’s only supermarket is for sale with a long lease to New World, presenting an affordable opportunity to acquire a superbly tenanted retail investment in a popular tourism spot.
Colliers International has been exclusively appointed to market 12-14 Goldfinch Street for sale by tender closing at 4pm on Thursday 13 December.
Broker Dan Walker says the property is ideally positioned to service the steady stream of tourists who flock to Ōhākune year-round.
“Located in the centre of the North Island, the township is the southern gateway to Tongariro National Park and the popular Mount Ruapehu ski fields of Whakapapa and Tūroa.
“The property for sale occupies an enviable retail niche as the only full-format supermarket in Ōhākune.
“As far as good tenants go, they don’t get much better than New World. The problem is, investments of this calibre rarely become available – and when they do, they’re often out-of-budget.
“New World Ōhākune offers an affordable opportunity to become landlord to a blue-chip tenant in popular tourism destination.
“Regular rent reviews, a satisfactory seismic rating, ample car parking and a motivated vendor make this an opportunity not to be missed.”
Built in the 1980s, the well-maintained property offers a net lettable area of 955sq m on a 1,809sq m freehold site.
New World occupies the premises on a 12-year lease to parent company Food Stuffs North Island Limited.
Almost two years remain on the current lease term, followed by two rights of renewal of six years each.
The property returns $168,703 of net annual rental income. Market rental reviews take place every two years.
New World also leases a neighbouring property with 36 car parks at 18 Goldfinch Ave. That lease expires in 2035.
The Commercial zoned property for sale has a satisfactory 75 per cent NBS seismic rating.
Founded in 1963, New World is part of Foodstuffs’ two regional cooperatives of independently owned and operated supermarkets. There are 140 New World supermarkets across New Zealand.
Foodstuffs’ regional cooperatives also comprise owner-operated Pak'nSave supermarkets and Four Square convenience stores.
Ōhākune is located about 292km south of Auckland and 215km north of Wellington. It is part of the Manawatu-Wanganui region, positioned 70km northeast of Wanganui and 25km west of Waiouru.
The township sits at the southern end of the Tongariro National Park, which is recognised as a Unesco World Heritage site, close to Mount Ruapehu’s southwestern slopes.
In winter, the township attracts throngs of skiers and snowboarders to Whakapapa and Tūroa, which together form the largest ski area in New Zealand.
In summer, tourist attractions include mountain treks, canoeing on the Whanganui River and mountain biking.
Ōhākune is known as New Zealand’s carrot capital. Some two thirds of the country’s carrots are grown in the area – a fact celebrated by the township’s iconic giant carrot sculpture.
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