The large new Pukekohe premises housing a Bunnings Trade Centre have gone up for sale in a fast-growing area that is experiencing an unprecedented building boom.
Positioned on a more than 6,000-square metre freehold site, the Bunnings Pukekohe Trade Centre serves tradespeople working in busy areas around the Auckland-Waikato boundary.
It provides a wide range of products such as power tools, paint, safety and personal protective equipment, and site consumables.
Pukekohe has been identified by Auckland Council for major growth as a key satellite town, with numerous big commercial and residential developments in the area underpinning current and future construction demand.
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The Bunnings facility on Crosbie Road, Pukekohe, was the brand’s ninth trade centre in New Zealand.
It generates an annual net rental return of $461,250 plus all outgoings and GST on a current lease that runs through to 2029, with six further five-year rights of renewal.
The lease agreement incorporates 2.5 per cent annual rental increases, replaced by market reviews in 2029, then at every second lease renewal.
Bunnings is Australasia’s leading retailer of home and lifestyle products for consumer and commercial customers. It is a major supplier to project builders, commercial tradespeople and the housing industry.
Its store network encompasses 282 large warehouse stores, 67 smaller format stores, and 32 trade centres and frame-and-truss sites.
The network generated $17.8 billion of revenue across the 2022 financial year and, at 30 June 2022, employed nearly 53,000 staff.
The freehold site housing the Bunnings Trade Centre at 5 Crosbie Road, Pukekohe, is being marketed for sale by Shane Snijder of Bayleys Pukekohe.
The property will go under the hammer at an auction on Wednesday 8 March, unless it is sold prior.
Snijder said the site consisted of a building of some 3,844 square metres on approximately 6,113 square metres of land.
Opened a year ago, the trade centre has a generous 8.3-metre stud height and an A-grade seismic rating.
It features a fully undercover trade drive-through along with 20-plus onsite car parks.
“This is a rare opportunity to own a new landmark building with an exceptional tenant whose business activities are directly linked to expansion and booming construction activity in one of Auckland’s key strategic growth locations,” Snijder said.
Located around 50 kilometres south of Auckland’s city centre, Pukekohe has a population of around 30,000.
It has a bus network that is integrated with the Auckland rail network and the town is connected to State Highway 1 and the rest of Auckland via State Highway 22.
The town’s economy is centred on surrounding dairy farming and horticultural activities, and a large and growing contingent of commuters working throughout greater Auckland.
Pukekohe’s town centre offers a wide variety of services and facilities.
The area sits within a Light Industrial zone under Auckland’s unitary plan, which provides for a range of activities such as manufacturing, production, logistics, storage, transport and distribution.
The site for sale sits alongside the new multimillion-dollar Ebbett Pukekohe car dealership and near other big-brand occupiers such as Countdown, Noel Leeming, Spotlight and Rebel Sport.
Snijder said Pukekohe and surrounding areas were poised for considerable growth over the next 30 years.
“The Auckland Plan 2050 identifies some 1,700 hectares of land for future urban development around Pukekohe, including some 790 hectares in Paerata.
“Auckland Council says this land could accommodate 14,000 dwellings, subject to ongoing upgrades to water, wastewater, stormwater and transport. Priority has been given to the development of Paerata, where around 330 hectares of land are ready for development,” he said.
Snijder said big existing projects included the 361-hectare Drury South Crossing mixed-use precinct, Fisher and Paykel Healthcare’s recent purchase of 104 hectares for a new business campus on Karaka Road, and the 4,500-home Paerata Rise residential development.
“This environment of growth is also giving rise to a multitude of smaller developments. It has continued to drive very strong demand for commercial and industrial property generally, as well as booming activity for construction and trades businesses at all scales.
“These dynamics, and the sheer calibre of Bunnings as a tenant, create a compelling investment proposition for buyers of the Crosbie Road site,” Snijder said.
- Article supplied by Bayleys
