Former show-home corner site for sale

6:47 PM Friday September 22, 2017 True Commercial

This plot of industrial land, which previously showcased the homes designed and built by Lockwood, is now for sale. Photo / Supplied

A plot of industrial land previously used to showcase the homes designed and built by one New Zealand’s pioneering residential building entrepreneurs has been placed on the market for sale.

The 1.1ha site on the corner of Fairy Springs and Bidois Rds on the northern side of Rotorua was formerly the showroom location for Lockwood Homes – founded a generation ago by Rotorua Chamber of Commerce ‘hall of famer’ Jo la Grouw.

The La Grouw Lockwood ‘village of show homes’ had been operating from the Fairy Springs/Bidois roads corner location for some 40 years, and moved from the location in 2014 when it relocated to the company’s head office in nearby Russell Rd.

The land is zoned industrial 1 and 1E – allowing for the development of premises to accommodate light industrial, wholesale, and warehousing uses. The classification includes fabrication, manufacturing, production, assembly, logistics, transport and distribution uses.

The freehold corner block encompasses seven separate titles – including 110m of street frontage onto Fairy Springs Rd, and 130m of street frontage onto Bidois Rd.

The property is being marketed for sale by tender unless sold prior through Bayleys Rotorua, with tenders closing at 4pm on October 20. It features in Bayleys’ latest Total Property portfolio magazine.

Salespeople Mark Slade and Brei Gudsell says the site houses a dilapidated and unusued commercial building, along with warehouses and a trucking depot and storage yard.

“The property is tenanted on short term leases requiring three months notice to vacate. This could provide a holding income while redevelopment consents are acquired for a full redevelopment of the site,” Gudsell says.

As one of Rotorua’s main arterial routes, Fairy Springs Rd is used by some 22,000 vehicles daily – making it one of the busiest roads in the city.

Slade says that as the gateway to and from Rotorua for the majority of vehicles coming into the city from the central and upper North Island, the Fairy Springs Rd precinct was a magnet for retail and light industrial premises.

Neighbours in the area include an array of fast-food operator such as McDonalds, Wendys, and Burger King, along with the newly-opened Countdown supermarket and BP garage.