The Taupo CBD retail premises anchored by Whitcoulls and Postie Plus have gone up for sale in an offering likely to appeal to investors nationally.
The modern, single-storey freehold property lies in the heart of Taupo’s town centre shopping precinct. Three high-profile tenancies house the iconic national book and clothing retailers, along with national hairdressing chain Vivo – generating total net rental income of $270,714 plus outgoings and GST per annum.
A vacant space of some 82 square metres offers the chance to add further income, with an estimated market rental of $31,400 plus outgoings and GST per annum.
Founded 130 years ago, Whitcoulls has over 50 stores nationally selling books, stationery, magazines, toys, games, greeting cards and wrap. The chain is New Zealand-owned by the James Pascoe Group, which also includes Farmers, Stevens, Pascoes the Jewellers, Stewart Dawsons and Goldmark.
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The Postie Plus Group also has a history going back over a century. It has around 60 stores New Zealand-wide, stocking women’s, men’s and children’s clothing, plus accessories, toiletries and home and living products.
Vivo Salons is a family-run, privately-owned company which employs 650 staff in 80 salons across New Zealand, supported by a team of regional managers.
The property at 31 Horomatangi Street, Taupo, is being marketed for sale by Gary Harwood and Lisa Christensen of Bayleys Taupo.
Sale is by way of a tender closing on Wednesday 24 August, unless the property is sold earlier.
Harwood said the offering consisted of a modern, purpose-built retail building of some 907 square metres, on an approximately 1,014-square metre site with four car parks.
“Constructed in 2016, the building has an Initial Evaluation Procedure seismic rating of 100 percent of new building standard. It is divided into four tenancies with a total net rentable area of some 861 square metres.
“The property presents extensive frontages to the sunny side of Horomatangi Street and, down the western side of the building, to Marama Arcade. This is the main pedestrian access between Horomatangi and Te Heuheu streets, Taupo’s two main retail destinations,” said Harwood.
Christensen said both frontages were supported by over-footpath verandas, encouraging year-round shopping in all weathers.
“Zoned as part of the Town Centre Pedestrian Precinct by Taupo District Council, the location and frontage assure tenants of superb exposure to some of the town’s busiest foot traffic.
“This is the retail epicentre at the very heart of the central business district. The strength and desirability of the location are demonstrated by the line-up of neighbouring businesses.
“These read like a Who’s Who of national and international brands, from Westpac, Kiwibank and the Co-operative Bank, to the likes of Flight Centre, Specsavers, Hallensteins, Just Jeans, Kathmandu and Vodafone,” Christensen said.
- Article supplied by Bayleys
