The site housing a busy Caltex service station in a Waikato township that has reinvented itself as a popular stopover for motorists has gone up for sale.
The freehold property for sale at 43-49 Main Road, Tirau, sits at a prominent corner site fronting State Highway 1 in the town’s commercial centre.
Positioned at a key highway junction, Tirau has undergone a revival in recent years to capitalise on busy passing traffic – sprouting trademark corrugated-iron sculptures and buildings in the shape of a sheep, ram and dog, along with numerous cafes and eateries.
The majority of the site for sale at 43-49 Main Road, Tirau, is occupied by Caltex Tirau, which has eight years remaining on its current lease and three further five-year rights of renewal. Service station operator GMR Trading Limited pays net rental of $132,000 plus outgoings and GST per annum, with three-yearly market rent reviews built into the lease agreement.
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The Tirau site forms part of a national network of more than 140 Caltex service stations and 70 truck stops. With a trading history going back over 80 years, New Zealand’s Caltex brand is today operated by Z Energy under licence from Chevron International.
The property at 43-49 Main Road, Tirau, is now being marketed for sale through Bayleys South Auckland and Bayleys Hamilton. Sale will be by deadline private treaty closing on Thursday 16 September, unless the property is sold prior.
Salespeople Tony Chaudhary, Janak Darji and Josh Smith said the site consisted of structures with a total floor area of approximately 560 square metres on 2,614 square metres of land across two freehold titles.
Improvements include a retail building, workshop, canopy and ATM/storage area.
“Caltex Tirau occupies the bulk of the site for sale, with a service station offering petrol and diesel, plus a truck stop service, LPG gas filling, convenience sales, coffee and an ATM,” said Chaudhary.
“The remainder of the property represents a sizeable portion of land which will offer a new owner opportunities for future development.”
The site is zoned Town Centre under the South Waikato district plan. It sits at the corner of Main Road, which doubles as State Highway 1, and Okoroire Street.
Darji said the property’s strategic location within Tirau ensured strong demand for fuel and associated convenience and refreshment sales.
“Tirau marks the halfway point between Auckland and the key centres of Tauranga, Rotorua and Taupo. Over the years this township has reinvented and positioned itself to capitalise on this location and made its name as a popular stop for motorists.
“Directly across the street from the site for sale are the township’s iconic sheep and ram buildings, which along with the dog-shaped visitor information centre are drawcards attracting people to visit and spend in the township,” said Darji.
Other neighbours include boutique retailers, service businesses and warehousing, along with Tirau Primary School and a Fonterra casein factory.
Smith said Tirau’s position at a key highway junction would continue to underpin local traffic volumes and demand for fuel.
Just south of Tirau, traffic on State Highway 1 from Auckland and Hamilton splits to go to Rotorua on State Highway 5, or continue on State Highway 1 to Taupo and beyond. To the north, State Highway 27 splits off State Highway 1, providing a route to the Coromandel and an alternative route to Auckland, bypassing Hamilton.
“Less than an hour’s drive from Hamilton, Cambridge, Matamata, Rotorua, Tauranga and Mt Maunganui, Tirau is assured of busy through-traffic throughout the year,” said Smith.
“It’s also a popular visitor destination in its own right, thanks to local attractions such as the Te Waihou Walkway, Blue Spring, Okoroire Hot Springs Hotel and golf course and the Waikato River Trails.”
-Article supplied by Bayleys
