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Home / New Zealand

Prime retail site in central Kaikohe up for sale

Northern Advocate
26 Feb, 2024 04:00 PM3 mins to read

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Kaikohe’s Warehouse store site is up for sale, with the retailer being in the town since 2003.

Kaikohe’s Warehouse store site is up for sale, with the retailer being in the town since 2003.

A prime retail site in central Kaikohe is up for sale, but it may not be the bargain everyone expected.

The Warehouse store which has been on the site for over two decades has gone up for sale.

The iconic Kiwi retailer’s store sits in a pivotal location alongside Countdown and McDonald’s within the commercial hub of the regional service town.

The Warehouse store plus a smaller building on the site leased to a community health advice charity generate a total net rental return of $340,000 plus outgoings and GST per annum, with built-in market rent reviews every three years.

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Open 8am to 8pm daily, the Kaikohe store brings in customers from the town and surrounding areas with the store offering a wide range of products, from clothing and homeware to toys and electronics – plus its own garden centre.

The freehold land and buildings at 39 Station Rd, Kaikohe, are being marketed for sale through Lia Pauley and Ben Clare of Bayleys Real Estate. The property is being offered by way of a deadline sale closing on Friday, March 8.

Pauley said the buildings with a total floor area of some 3377 square metres sits on nearly 7200 square metres of commercial-zoned freehold land.

“It has been well maintained, ensuring it projects an attractive and eye-catching presence and minimising the risk of significant maintenance costs to a new owner,” said Pauley.

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Clare said the property benefited greatly from its strategic location within a heavily frequented retail complex in the middle of town alongside Countdown and McDonald’s.

“The proven, longstanding presence of blue-chip tenant The Warehouse in this prime location makes this a passive investment opportunity of the highest calibre – and one that’s sure to pique the interest of buyers far beyond Northland,” Clare said

Kaikohe’s population swelled by 15 per cent in the five years to the 2018 New Zealand census and is now estimated at around 5000.

Sometimes referred to as “the hub of the north”, it is the third largest town in the Far North and an important provincial service centre for a community underpinned by agriculture, forestry, and related industries. The town serves people from surrounding areas with essential amenities such as schools, retail and healthcare facilities.

The Kaikohe store recently started getting all its electricity supplied from the massive Lodestone Solar Farm near Kaitāia, after the company signed a deal to take power from the site for its stores.

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