A Waikato property to bank on

The property at 60 Broadway is occupied by ANZ and sits in a high-foot-traffic location. Photo / Supplied

A high-profile corner site occupied by ANZ in the heart of the Waikato town of Matamata has been placed on the market for sale for the first time in 24 years.

The land and buildings at 60 Broadway occupy 460sq m and 419sq m respectively and generate an annual net rent of $99,000 plus GST and outgoings.

They are being marketed for sale by Bayleys' Hamilton sales agent Blair Hutcheson and will be auctioned on Thursday, June 22.

"The property is in high foot-traffic area on the corner of Broadway and Arawa Street, and comes with covered off-street car-parking facilities" Hutcheson says. "The sale gives prospective buyers a rare opportunity to secure a prime retail site in Matamata."

Hutcheson says ANZ has a six-year lease expiring in 2019 with five three-year right of renewals, adding that the property has proven history of securing tenants.

The building has also been seismically strengthened, adding to its value.

Hutcheson says the property's is well positioned to take advantage of Matamata's reputation as a hub for the region's farming community.

"Matamata offers a range of facilities demanded by businesses but is still small enough to offer a community atmosphere and personal service. Farming and industrial businesses operate side-by-side, served by a lively retail and financial sector.

"The town is surrounded by a wealth of dairy farms, and is five kilometres south of Fonterra's cheese factory in Waharoa."

Hutcheson adds: "Matamata is also a popular stop for visitors travelling south from Auckland and north from Taupo and Rotorua. The township is close to many tourist highlights, including the Hobbiton set used in Sir Peter Jackson's Lord of the Rings and Hobbit films."