Matata stores have long-term tenants

5:00 AM Wednesday November 9, 2016 True Commercial

Thirsty Liquor at 29 Arawa St, Matata with the neighbouring Matata General store to the right.

Land and buildings for two businesses are for sale in the popular beachside settlement of Matata, 24km north-west of Whakatane.

The properties occupy a 2024sq m freehold site in two titles, but are being sold as one, says Bayleys sales agent Lloyd Davidson, who is selling them with colleague Rhys Mischefski.

At 29 and 31 Arawa St, they offer buyers a steady income of nearly $45,000 a year, and the chance for future development, says Davidson.

“They comprise a mixture of commercial and residential space and are in a prime spot on the town’s main road. Each has a long-term tenant — a general store and an off-licence.”

The properties will be sold through a tender process closing on December 1, says Davidson.

• St, signed a six-year lease in 2012 with one six-year right of renewal and one three-year right of renewal. Net annual rental income for the lease is $29,800 with rent reviews every two years.

“These properties present investors an opportunity to buy  two quality commercial spaces in a popular coastal town,” says Davidson. “The composition of the two tenancies in this block perfectly meets the customer requirements of the locality.

“Thirsty Liquor is Matata’s sole dedicated liquor store, while Matata General Store is just one of two dairy stores in the town.”

“Locals doing the weekly grocery shop at the general store will frequently pop next door to the off-licence for a crate of beer and a bottle of wine,” Davidson adds.

He says the buildings offer generous retail and storage space and boast solid residential accommodation.

The 241sq m one-storey building at 29 Arawa St was built more 85 years ago. The retail space is accessed through a ranch-slider at the front of the building, which also includes an office, staffroom, laundry area, rest room and storage room.

The accommodation at the rear of the building consists of three bedrooms, a lounge area, fitted kitchen, bathroom, and laundry area.

The 271sq m two-storey building at 31 Arawa St has a 96sq m retail space on the ground floor, plus a staffroom, kitchen, bathroom, storage room and a dry store area with fitted roller door for goods delivery. Above the store is an 83.7sq m two-bedroom flat with open plan living area opening on to a veranda, a fitted kitchen and bathroom with bath and shower unit.

True Commercial - 29 Arawa and 31 St%2c Matata - elevated view.jpg

An aerial view of 29-21 Arawa St, Matata.

Mischefski says the region’s warm climate, stunning views and pristine beaches add to the value of the land and buildings. “The area has become increasingly popular with holiday-makers and has the types of recreational activities that would suit lifestylers,” he says.

“The main beach stretches for more than 10km west of Matata and offers panoramic views of Rurima (Turtle) and Motuhora (Whale) islands, and New Zealand’s most active volcano, Whakaari (White Island).”

The main coastal route between Whakatane and Tauranga runs through Matata, with Arawa St flowing off of State Highway 2.

“Matata is a frequent stopping point for those touring the Bay of Plenty and the properties are in a good position to take advantage of the passing tourist traffic,” says Mischefski.

The population of 642 people swells during the summer months and school holidays, with a tourism economy supported by two camping grounds, a hotel and B&B.

Directly across the road from 29 and 31 Arawa St is a Department of Conservation campsite, which has capacity for up to 40 tents, while sitting just outside town on the beach is Murphy’s Holiday Camp, which features nine fully fitted cabins and has capacity to house up to 300 vacationers a night.

Both grounds are popular with families, offering excellent fishing and swimming and are close to the Matata wildlife refuge.

The area is great for walking and the sandbar allows children to splash about in the shallows, while also producing good waves for surfers.

“Over the summer months from December to mid-February, the busy weekend is stretched out across the week as tourists and holidaymakers take advantage of the properties’ ‘one-stop’ food and beverage shop configuration,” says Davidson.