Four fully leased commercial units for sale offer a stake in a new mixed-use village style complex in one of the Bay of Plenty’s fastest growing locations.
The newly designed and built ground-floor units form part of The Village Omokoroa, a new-look shopping and services hub with 21 business tenancies which was completed last year.
The premises are home to a gastropub-style restaurant, a family-owned veterinary clinic, an authentic Turkish kitchen and a well-known nail salon.
Each freehold unit is fully occupied on a long-term lease with built-in rental growth and comes with a share in a large common parking area with space for nearly 200 vehicles.
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Bayleys Tauranga salesperson Ivy Shen said The Village was ideally placed to capitalise on a burgeoning population in a designated area of special housing growth in greater Tauranga.
“With beginnings as a small rural holiday village, Omokoroa is rapidly expanding as a commuter town which retains an enviable lifestyle within 25 minutes’ drive of the city centre.
“The town’s population soared by nearly two-thirds in the 12 years to 2018. Including the rural area to the south, the Omokoroa area is expected to be home to 12,000 by 2030.
“Investors in these high-quality units at The Village stand to benefit from being in the right place at the right time to reap rewards from ongoing growth in local retail and services demand,” said Shen.
The new commercially zoned complex is centrally located on the corner of Hamurana Road and Tralee Street, and around 20 metres from main arterial Omokoroa Road.
Units 1D, 3D, 2A and 9A at The Village, 97-137 Hamurana Road, Omokoroa, are being marketed for sale by Ivy Shen of Bayleys Tauranga. They will be sold, individually or together, by deadline private treaty closing on Thursday 11 July, unless sold prior.
Unit 1D, spanning some 354 square metres indoors plus an approximately 115-square-metre outdoor area, is home to the Village Green Bar & Kitchen. The current lease runs through to 2031, with two further six-year rights of renewal. This generates a net rental return of $137,076 plus outgoings and GST per annum. The premises are separated into two distinct open bar areas with a dine-in client area, plus a semi-partitioned utility/storage space.
The approximately 230-square-metre Unit 3D is occupied by local veterinary clinic Omokoroa Pet Vets. The unit encompasses various rooms for consultations, surgery, office, plus a reception area and open-plan space. The clinic occupies the premises on a current lease that runs through to 2029 with rights of renewal, if fully exercised, extending to 2041. It pays an annual net rent of $97,750 plus outgoings and GST.
Unit 2A is home to popular eatery Lolo Authentic Turkish Kitchen. The approximately 111-square-metre premises, including a commercial open-plan kitchen, dining area and storage space, generate a net rental income of $47,175 plus outgoings and GST per annum. The current lease runs through to 2029, with two further six-year rights of renewal.
Spanning 120 square metres (more or less), Unit 9A is leased to Majestic Nails and Beauty, a nail salon with six locations across the Bay of Plenty and Hamilton. Incorporating a consultant room, staff room, reception and open-plan area, the premises generate a net rental return of $48,000 plus outgoings and GST per annum. The current lease has more than five years to run, with two further six-year rights of renewal.
The offering of these four premises follows the successful sale of five other units at The Village. These house a Coffee Club café, a hairdresser, lawyers’ offices, a Pilates tenancy and a liquor store, in what has fast emerged as a vibrant hub to shop, dine, work and access local services.
“With strong long-term leases to quality operators, and yearly rent reviews, in well-built immaculately presented premises, these properties tick multiple boxes for buyers seeking a prime bottom-drawer investment,” said Shen.
“Add to this the strategic location in fast-growing Omokoroa, and keen demand from investors is assured.
“Being a short drive from Tauranga city and surrounded by a mix of urban neighbourhoods and orchards, Omokoroa is increasingly recognised as a very desirable place to live.
“Local amenities include the well-respected Omokoroa Point School, a medical complex, public library, cafes, supermarket and other shopping.
“The area’s compelling lifestyle allows residents to fish or launch from the jetty, kayak or swim, or pursue recreational opportunities at the local golf, boat or tennis clubs or local playing fields,” Shen said.
- Supplied by Bayleys
