A famous Kerikeri farmers market and its expansive landholding have hit the market, offering an array of possibilities for savvy investors, ambitious owner-occupiers, and visionary developers to shape its future.
The Old Packhouse on Kerikeri Road has been developed and owner-operated over the past 10 years by local personalities Judy and Warrick Hyland.
Promoted as “the beating heart of Kerikeri”, the former home of an orchard and fruit packing facility is now a bustling meeting place for locals and visitors, and synonymous with supporting local growers and artisans.
Its popular café, bakery and butchery contribute to a combined annual turnover of $1.8 million.
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Famed weekend and Friday night markets regularly attract big crowds, generating an income for the owners of some $350,000 per annum.
The property also comes with infrastructure and consents to host weddings and conferences, a purpose-built, covered stage and open fields out the back for large outdoor concerts.
It recently hosted a high-profile show by the Black Seeds and is consented for two major open-air gigs a year.
Two large houses are available for possible rental or occupation by new owners.
The freehold land and buildings housing The Old Packhouse Market and the sprawling property at 505 Kerikeri Road, Kerikeri, are being marketed for sale by tender, through Gary Lucas of Bayleys Bay of Islands and Bayleys in the North director commercial, Ben Clare.
The main market building and houses, together spanning almost 2,000 square metres, are underpinned by more than 5.6 hectares of land over five freehold titles.
Lucas said the site offered exceptional prospects for a wide range of buyers looking to build on the legacy of The Old Packhouse.
“This iconic destination has been developed passionately over the past decade by its current owners, and is now a beacon of community and growth cherished by locals and thousands of national and international visitors.
“Investors have the option to purchase all or parts of the property.
"Leasing options could be created for the cafe, butchery, events space and outdoor venue, or a single lessee across the whole property.
“New owner-occupiers could be passionate about what has been, or could be, created on the property and will look at the opportunity to establish, add to, or grow The Old Packhouse brand, or their own variation of that,” said Lucas.
Existing activities provide diverse revenue streams, with the chance to significantly increase revenue through strategic development, he said.
“A new owner could explore adding midweek markets over the summer targeting Bay of Island cruise ship passengers.
“A resource consent is in place to develop a wedding, conference and events centre, including another commercial kitchen and new bathroom facilities in the packhouse space. This could host up to four nuptials or other events per week,” said Lucas.
Clare said significant infrastructure was already in place to support current and future growth.
“Roading access accommodating high traffic volumes is now facilitated by a turn-off bay and pedestrian refuge on Kerikeri Road. Septic and water supply capacity is over specification, ready for further expansion.”
With appropriate investment, Clare said, the property could lend itself to a more comprehensive development akin to Matakana’s celebrated events and hospitality complex, Matakana Country Park, or the vibrant Matakana Village precinct.
“The sizeable freehold landholding may also appeal for a substantial development for an alternative use. Subject to appropriate planning approvals, this could be a residential or retirement project, or a commercial complex,” Clare said.
- Supplied by Bayleys
