A high-quality passive investment in one of New Zealand’s premier industrial locations is available for purchase, offering buyers the opportunity to secure an asset supported by a high underlying land value and a strong tenant covenant.
Sitting at 30 Taitimu Road in the Tauriko Business Estate in Tauranga, the significant landholding spans 9,019sq m.
The property is occupied by MixUp, a Bay of Plenty ready-mix concrete supplier formed through the coming together of BaseUp Contracting and HR Cement, combining the respective organisations’ civil construction expertise with cement manufacturing capability.
The business services Tauranga, Omokoroa, Katikati, and Papamoa, with an additional facility in Rotorua, and offers a low-carbon product range through its Eco-Max concrete and BaseRaft foundation systems.
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MixUp is set to begin a new 15-year lease at the property with a further 15-year right of renewal available, indicating the firm’s commitment to the location. All major improvements and site equipment at the property are owned by the tenant.
The lease agreement provides $420,000 plus GST and outgoings with built-in rental growth of 2 per cent per annum, as well as market reviews every five years.
The freehold property’s strategic location means it benefits from rapid access to the nearby motorway network, while the Port of Tauranga can be reached in approximately 10 minutes and the Tauranga CBD is only 8.4km away.
Colliers Brokers Simon Clark and Rob Schoeser have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Thursday 10 September, unless sold prior.
Clark, Managing Director at Colliers Tauranga, says the property provides long-term income from an established local business.
“The lease agreement includes guaranteed rental growth mechanisms that will be appealing to investors, and there is considerable underlying land value, which will appreciate over time,” Clark says.
“The tenant has a huge investment in plant and equipment at the property, providing exceptional strength to the tenant covenant and a strong alignment of interests. The asset also benefits from its wide road frontage, and its existing layout means there is future potential to subdivide the property.”
Tauranga occupies a key position in New Zealand’s economic ‘Golden Triangle’, and the subject property is located near the junction of State Highways 29 and 36. This means firms within the Tauriko Business Estate have direct access to the wider roading network, allowing them to easily connect with Hamilton and Auckland.
Schoeser, Commercial and Industrial Broker at Colliers Tauranga, says the Tauriko Business Estate has grown into one of the most sought-after business parks in the Bay of Plenty region and sees consistent demand among landlords and occupiers.
“The area now spans more than 200ha of developed commercial and industrial land and is home to some of New Zealand’s most recognisable companies,” Schoeser says.
“Its location means it is a strong fit for trade, logistics, distribution, and manufacturing firms. It also sits alongside the Tauranga Crossing retail centre and The Lakes residential subdivisions, meaning occupiers have access to convenient retail and hospitality connections for team members and clients.
“This is a compelling investment opportunity that gives buyers the chance to acquire a stake in one of Tauranga’s premium commercial and industrial locations.”
- Supplied by Colliers
