The land and buildings housing Whitianga’s most popular fish and chip shop, along with the local franchise of a national home building company and other tenancies, have been placed on the market.
The high-profile property in the town centre contains the popular Snapper Jacks fish and chip shop, along with the local branch of GJ Gardner, a designer homewares and fashion boutique, and an IT/computing/digital services firm.
Located on the corner of Albert and Monk streets along Whitianga’s main retail strip, the property consists of some 740-square metres of buildings in two adjoining premises, sitting on approximately 508-square metres of flat land.
Most of the ground floor facing the pavement is occupied by Snapper Jacks. GJ Gardner occupies the middle portion of the street-fronting retail space in addition to its office space above, while boutique fashion and homewares outlet Gathered & Co occupies the third retail space and space upstairs, and IT/computing/digital services firm Nowtech occupying office space.
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The tenancies within 26 Albert Street generate annual rental revenue of $104,580 plus GST and outgoings, and include:
· Anchor tenant Snapper Jacks on a lease running through to 2030 with a further five-year right of renewal
· GJ Gardner on a current lease running through to later this year with a further two-year right of renewal
· Gathered & Co on a current lease running through to 2026 with two further three-year rights of renewal
· Nowtech on a current lease running through to 2026 with one further one-year right of renewal.
The freehold land and buildings at 26 Albert Street in Whitianga are being marketed for sale at auction on March 13 through Bayleys Whitianga.
Salesperson Josh Smith said the split-risk tenancy configuration of the property was enhanced by its location – overlooking one of Whitianga’s busiest intersections which consequently delivered high foot and vehicle traffic flows for tenants.
“All tenants within the property take full advantage of the signage advertising and expansive branding opportunities available both at street level, and on the eves hanging above the pavement to promote their brands,” Smith said.
“Located just a few hundred metres away from Buffalo Beach, the property sits proudly in the central business district within Whitianga’s pedestrian core zone – which allows for future development options such as a multi-storey premises incorporating both residential and commercial aspects,” Smith said.
“Subject to council consents, there is the potential to convert the first-floor office spaces into one or two high-end residential apartments suitable for letting through the likes of Air BnB, or for occupation by an owner wanting a stylish pad smack in the middle of town.
“There is already bathroom plumbing in place for the current office tenancies, and the axis aspect off the building with two street frontages, means any potential commercially-operated residence or residences would have great views over the bustling retail hub below.”
Tenant carparking and goods delivery access for the commercial tenancies at 26 Albert Street are located at the rear of the property – accessed by a driveway circling around the edge of the building.
Additionally, there is plenty of customer parking available immediately outside both the Albert Street and Monk Street shop entrances. The two-storey block has a new building standards rating of 70 percent.
Thames Coromandel District Council’s 2018-2028 Long Term Plan identifies that Whitianga is one of two towns in the region to experience the biggest growth in the number of homes being built. The other township is Tairua.
- Supplied by Bayleys
