The land and buildings housing a trade services and automotive hub South Waikato have been placed on the market for sale.
The block of units at 5–9 Campbell Street, in Tokoroa, consists of 1,486 square metres of buildings sitting on some 3,036 square metres of flat freehold land, and is tenanted by a plumbing supplies wholesaler, an electrical supplies wholesaler, and a vehicle repair and parts workshop.
The Campbell Street property is situated in the heart of Tokoroa's trades services business precinct – with like-minded neighbours featuring such companies as Farm Source, Triangle ITM, Stihl Shop and Farmlands.
The U-shaped block at 5-9 Campbell Street comprises two single level L-shaped buildings providing both functional showroom and warehouse/workshop space, supported by their respective office facilities and amenities. Combined, the property’s tenancies generate net annual rental of $117,218 plus GST.
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The three tenancies include: Corys Electrical Limited, which is on a lease running through to 2021 with three further three-year rights of renewal; Mico Plumbing, whose lease runsg through to 2022 with three further three-year rights of renewal; and Ford automotive service agency Barry Wood Automotive, which is on one-year lease terms running through to 2024.
The property is zoned Tokoroa Business under the South Waikato District Council plan, and had a new build standards rating of 100 percent.
It is being marketed for sale by negotiation by Bayleys agents Brendon Bradley and Ryan Bradley.
“With two nationally-branded tenants who have been operating from the Campbell Street location since the building was constructed in the late 1980s, and the local Ford parts garage which has been on site since around 2000, this is a very stable tenancy mix,” Brendon Bradley said.
“The two buildings within the block are constructed of reinforced concrete flooring, concrete block and timber framed external walls, with fibre cement and colour steel sheets, and galvanised steel and translucent plastic sheet roofing.
Ryan Bradley said both the property and its trio of tenants enjoyed a strong street profile, and all had a share of the location’s excellent on-site parking. The two buildings within the block are set back from Campbell Street.
Activities within the Tokoroa Business Zone include bulk goods retailers such as building supply firms and garden centres, along with car yards, service stations, supermarkets, along with engineering and light manufacturing firms.
