The land, building and business of one of New Zealand's oldest and most easily recognisable surf shops is for sale for the first time since it was established some 26 years ago.
Blitz Surf Shop at 34 Wainui Rd on the fringe of Gisborne's CBD has been supporting surfers on
the waves and in surfing attire since 1983.
However, founders Larry Foster who has 48 years of surfing experience, and his wife Leigh, have decided to sell up Blitz which will be auctioned by Bayleys Gisborne on November 27 to enable new owners to capitalise on the busy summer trading period.
"Only the Saltwater Surf outlet in Whangamata has been operating longer than Blitz," says Bayleys sales consultant Karen Raureti.
"It is just 500m from Gisborne's CBD and strategically located en route to the surfing magnet of Wainui Beach some 10 minutes drive away."
The Blitz Surf Shop was established in a two-storey building that was constructed in 1920. The building, on 851sq m of land, has a gross floor space of 445sq m with a net lettable ground floor area of 194sq m. The land is zoned inner-city residential, allowing for high-density residential developments.
The upper portion of the property is split into two separate accommodation units. A one-bedroom flat returns $150 per week, and a second similarly sized unit is being renovated to create a New York-style apartment living space.
"Both units have panoramic views over the Gisborne Basin out toward the port headland, and there are upsides for future rental increases," Raureti says.
Blitz also has a popular surfboard hire operation with boards and equipment often booked days in advance from December to February. The shop works in with a local surf school to assist novice surfers get into the sport.
Foster says the business would suit a young entrepreneur wanting to combine business with time on the water.
"It's a surfer's dream."
He's giving up the business to spend more time surfing.
It is estimated that more than 22,000 cars drive past the Blitz store every day in the summer months. Among suppliers, Blitz is rated among the top 10 outlets for fashion wear and the volume of surfboards heading out the door.
"We expect a lot of interest from Gisborne - both from surfers interested in buying their own business, and from commercial developers who can see the potential for enhancing the building while still maintaining the revenue stream from the retail activities," Foster says.
The shop also stocks a full range of skateboard, and skate clothing accessories and footwear, as well as a full range of surfing accessories.
Foster says he'd like a new owner to keep Blitz operating as it is "but here is the potential to expand the range of services like adding on a small cafe or lunch bar to the side. "A new owner could take Blitz to a whole new level."
There are just two surf shops in Gisborne compared with 13 at the comparable surf magnet of Mt Maunganui.
In addition to the business and the building, Larry is also willing to negotiate the sale of his personalised number plate - BLITZ1.
Blitz owner and founder Larry Foster is selling so he can spend more time out on the water surfing. Photo / Supplied
The land, building and business of one of New Zealand's oldest and most easily recognisable surf shops is for sale for the first time since it was established some 26 years ago.
Blitz Surf Shop at 34 Wainui Rd on the fringe of Gisborne's CBD has been supporting surfers on
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