High-Profile Retail & Industrial Hybrid | The Ultimate 'Set & Forget' Investment | 15-Year Potential Tenure
Rarely does a provincial asset offer the perfect trifecta of a blue-chip tenant, a newly modernised facility, and an exceptional lease runway. Situated on two titles in the heart of Kaitaia’s commercial hub, 148-154 Commerce Street is a premium addition to any portfolio.
Investment Highlights:
• National Brand Security: Occupied by Mico, a leading national distributor and a key business unit within the Fletcher Building Group, providing a high-quality tenancy covenant.
• Exceptional Lease Runway: Strategic lease structure with rights of renewal through to 2041, providing long-term income potential.
• Modernised & Low Maintenance: Purpose-built refurbishment completed in 2023, meeting the rigorous standards of a national distributor.
• Dual-Title Advantage: Spread across two titles (148 & 154), providing future flexibility for expansion, development, or partial divestment.
• Growth-Indexed Income: Recently reviewed to $70,113.44 + GST p.a. with built-in CPI "hard-ratchet" protections to hedge against inflation.
• Low Seismic Risk: Situated in a Z-value 0.10 zone, significantly mitigating the long-term capital expenditure risks found in other NZ regions.
Versatile Hybrid & High-Utility Layout:
The facility is intelligently configured for high-volume trade distribution, featuring a seamless operational flow:
• Zone 1: Trade Showroom & Retail: Approx. 165sqm of high-profile retail frontage and on Commerce Street. A 74sqm concrete apron offers additional display space.
• Zone 2: Central Operations Hub: Centrally located office and staff lunchroom, bridging front-of-house and warehouse operations.
• Zone 3: Extensive Workshop & Storage: Substantial storage and workshop space extending behind the retail/office wings.
• Zone 4: A dedicated drive-through facility with a 3m height clearance and 3.6m width - perfectly positioned for rapid tradie pick-ups and small to medium truck logistics. Heavy Vehicle Logistics: The site is well-equipped for heavy truck deliveries via the expansive Commerce Street concrete yard and rear access from Central Lane, ensuring seamless bulk-stock management.
• Dual-Street Access: Rare "drive-through" capability with entry/exit via both Commerce Street and Central Lane - allowing tradies to load under cover and exit seamlessly without the need for difficult reversing.
Superior Site Utility:
Commerce St Frontage: A 470sqm concrete yard with secure galvanised steel fencing - ideal for high-visibility display and dedicated onsite customer parking.
Secondary Yard: A 430sqm rear gravel yard providing essential storage and operational space.
Public Parking: Benefit from significant additional street parking, ensuring easy access for customers during peak trade periods.
Strategic Location:
Kaitaia remains the primary service hub for the Far North. This property sits in a high-profile position, perfectly placed to benefit from the region's ongoing infrastructure and government investment.
Contact Sunia Marr now for more information or to view!
(Viewing strictly by appointment)
(Disclaimer Floor and Land Areas: Any floor areas, yard measurements, or site dimensions stated in this advertisement, marketing material or the Property Information Memorandum (PIM) are approximate only and have been provided as a general guide. These figures have not been verified by a registered surveyor or formal architectural plans.)
