The property sits at a prominent corner site with frontage to key Taupo arterial Spa Road. It is fully leased to RD1, now trading as Farm Source, which is fully owned by New Zealand global dairy giant Fonterra.
The Taupo outlet is one of 67 Farm Source stores nationwide providing rural supplies such as fencing, machinery, animal health and shed supplies, as well as technical advice to farmers.
The Spa Road premises generate an annual net rental income of $250,989 plus outgoings and GST.
The freehold land and building at 185 Spa Road, Taupo, are being marketed for sale by Gary Harwood and Lisa Christensen of Bayleys Taupo.
The property will go under the hammer at an auction on Wednesday 8 March, unless it is sold earlier.
Harwood said the property consisted of an approximately 894-square metre building with a nearly 200-square metre canopy, on some 3,670 square metres of freehold land.
“The purpose-built large-format farm supplies building is modern and well-maintained. Building amenities include a large retail area, customer lounge, manager’s office, administration office, staffroom, two toilets, a chemical lockup, warehouse office and bulk store.
“This highly functional property is supported with a substantial canopy, a secure yard and plenty of onsite parking for customers and staff.
“With a strong income stream supported by regular CPI rent reviews, this property offers an exceptional opportunity to secure a prime investment which ticks all the boxes – strong national tenant, high-profile sought-after location and modern, well-maintained building with an initial seismic assessment of 100% NBS,” said Harwood.
Christensen said the site was zoned as part of Taupo District Council’s Spa Road mixed-use environment and residential environment.
Commercial neighbours in the area include Taupo Bungy and River Cruises, AC Thermal Baths, Taupo Events Centre and a Farmlands farm equipment store, along with a number of automotive businesses.
“The Spa Road property, and the tenant’s business, benefit from excellent exposure at the corner of Spa Road and Pihanga Street.
“Spa Road is one of the main internal arterial routes linking State Highway 1 to Taupo’s central business district, with a busy volume of traffic providing a high profile for any business in this location.
“This profile and easy access to both the main highway and town centre ensure properties in this area are sought after,” Christensen said.