A Woolworths supermarket in the heart of Hāwera, the second-largest town in Taranaki, is being sold with 15 years to run in the current lease term.
Marketed by Benet Carroll and Hugh Milloy of Colliers, the trophy investment at 27–39 Nelson Street is for sale by deadline private treaty closing 2 October.
The 3,475sq m supermarket was built in 2019 when its current 20-year lease began.
It’s situated on a landmark 9,389sq m site with three street frontages to Victoria, Nelson, and Union Streets and 131 on-site car parks. Net annual rental is $989,748 plus GST.
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“This is a stunning investment with an outstanding tenant with a clear commitment to the site with a final expiry on their lease of 2074. Supermarket assets of this calibre don’t often come to the market and are highly sought after,” Carroll says.
“The age of the building, strategic positioning of the property in the centre of Hāwera’s CBD, and long lease to a blue-chip tenant tick all the boxes of a superb investment.”
Woolworths New Zealand owns and operates more than 185 supermarkets nationwide and is one of New Zealand’s largest private sector employers with 20,000 staff across their stores, support offices, processing plants, and distribution centres.
Carroll says the Hāwera store is an important pillar in the community and employs around 90 people.
Hāwera is the largest town in South Taranaki servicing the surrounding rural area and has one of the highest per capita incomes in New Zealand. It is just 75km south of New Plymouth and a 30-minute drive from the iconic Taranaki Maunga.
The cornerstone of Hāwera's economy is the dairy industry. The Fonterra-owned Whareroa dairy factory, located approximately 4km south-west of Hāwera, was, until recently, the largest dairy production site in the world.
Carroll says the commercial property market is steaming ahead on the back of renewed confidence and reduced borrowing rates.
“Modern investments, leased by businesses in robust industries such as the supermarkets, offer investors surety of tenure.
“Hāwera has a tightly held commercial property market with limited room for growth, creating strong demand. It is a thriving community and feeder to the wider South Taranaki rural area.”
- Supplied by Colliers
