JLL agents are marketing 350 Great South Rd, Huntly, currently operating as a Countdown supermarket, with attractive returns on a prominent freehold site in a burgeoning region with plans for enormous growth.
The property is for sale by deadline private treaty closing at 4pm on Thursday 27 October unless sold prior.
It features a modern 3964sq m supermarket building and associated facilities (office, food preparation, storage and canopy load-out area) on 9764sq m of freehold land with ample carparking.
It is the northern Waikato town’s only supermarket and serves a wide catchment of rural services and residential suburbs including the nearby towns of Ngaruawahia and Horotiu, as well as the new Sleepyhead development at Ohinewai that is forecast to house approximately 3000 people.
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JLL metro sales associate director Jason Armstrong says New Zealand’s bulk retail sector makes opportunities like this attractive to the astute investor.
“The nature of the bulk retail sector makes it one of New Zealand’s most sought-after asset classes, especially in locations on particularly strategic routes.
"Being designated an essential service during recent lockdowns solidified bulk retail as low risk in nature, highlighting its strength as a defensive investment.”
His colleague Alex Wefers suggests the tenancy over the coming decades combined with lucrative annual returns makes this opportunity too good to ignore.
“The tenancy for Countdown Huntly, operated by General Distributors Ltd, commenced in 2011 with a 20-year term.
There are eight rights of renewal of five years to be optioned, meaning potential final expiry in December 2071,” says Wefers.
“Combine a secure tenancy with estimated annual returns of $681,203 and you have a sound investment for the next five decades as you strategise the next opportunity for your property in this booming region.”
— Article supplied by JLL
