A trade retail property on the northern fringe of Taupō CBD that is home to an established tenant is available for purchase and will catch the eye of buyers looking for a passive investment with a steady rental stream.
Located at 32 Waikato Street, this modern commercial building has 629sq m of floor area and sits on a 1,171sq m freehold site.
Since 2015, the property has been leased to Corys Electrical, a leading electrical, data, lighting, and safety supplier of the international Sonepar group, which trades in 40 countries around the globe.
The current lease has almost four years to run with a net annual rental income of $99,875 plus GST. There are annual CPI adjustments that are capped at 3 per cent and a market rent review in June 2026, capped at 5 per cent.
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The surrounding area is populated by a mixture of commercial and light industrial properties and the subject property benefits from its proximity to key amenities, including Pak’n Save and the under-construction Woolworths supermarket that is due to open later this year.
Nearby businesses and organisations include Taupo-nui-a-Tia College, J.A. Russell, Laser Electrical, Laser Plumbing, Top Gear Cycles, and Bunnings.
Hugh Milloy, Investment Sales Broker at Colliers Taupō, has been exclusively appointed to market the property for sale via deadline sale closing on Thursday 21 August, unless sold prior.
The property offers convenience for customers and suppliers through on-site car parking with further street parking available.
Taupō’s busy local shops are only a few minutes away, while Wairakei Drive, the main route north out of the town is easily reached.
Milloy says the strength of the tenant covenant is a major drawcard for this desirable trade retail offering.
“Having the opportunity to acquire a property that is leased to a multinational tenant is one that warrants serious consideration among discerning investors,” Milloy says.
“Prospective purchasers will be drawn to the built-in rental growth that adds further appeal. Having occupied this location for approximately a decade, the current tenant is firmly established in this property.”
Taupō is one of New Zealand’s premier tourist destinations that is known for its major event hosting capabilities with an international ironman event, the Taupō Super 440 Supercars round, and the Lake Taupō Cycle Challenge, alongside a host of other conferences.
The district’s population measured 40,296 at the 2023 Census, marking an increase of 8.3 per cent from 2018. The appeal of the area’s outdoor activities is proving attractive for people moving to the area.
According to data from Infometrics, the total number of business units in the district measured 5,862 in February 2024, up 1.3 per cent from a year earlier and that growth was greater than the national figure of 0.9 per cent. GDP growth for the year to March 2024 was 2.2 per cent for the district, compared to 1.4 per cent for New Zealand.
Milloy says when examining all the pertinent factors, this is a property that is set to benefit from the continued commercial and population growth.
“This property represents an outstanding opportunity to secure a stake in the commercial property sector in Taupō.”
- Supplied by Colliers
