State highway boost for Putaruru shops
Shops in the retail block at 84-86 Tirau St sell to locals and the travelling public. Photo / Supplied
A retail block for sale at Putaruru has one of the town’s few independent bakeries, a womenswear shop and one showcasing retro Kiwiana collectibles.
Jason Kong of Bayleys Hamilton says a three-bedroom home behind the shops is also included in the sale.
The freehold commercially-zoned property at 84-86 Tirau St — which is part of the SH1 — will go to auction on December 15.
Kong says with nearly 35 years on the site between them, Ma Bakers and the Putaruru Variety collectibles are cornerstones of the town’s retail community.
“The block has an outstanding 37m-wide profile on one of the busiest provincial roads in New Zealand, producing high volumes of vehicular and foot traffic.
“This is enhanced by the expanse of customer parking to the side, and a wide boardwalk-style pavement under a continuous portico at the front. Each retail tenancy has access to the rear through a shared access route, enabling easy drop-off and pick-up of stock away from the busy main road.”
Combined, the three retail tenancies and single residential tenancy within the Tirau St block provide gross rental income of $58,036 per annum, as follows:
- Bakery operator L & Y Bakers Ltd, trading as Ma Bakers, has an eight-year lease running through until 2024 with one further eight-year right of renewal.
- Women’s clothing and fashion accessory boutique Frockwork Orange is on a three-year lease running through until 2020 with three further two-year rights of renewal.
- Knick-knack and second-hand household goods retailer Putaruru Variety, is on a three-year lease running through to 2020 with three further two-year rights of renewal.
- The three-bedroom residence with double garage is leased to the operators of Ma Bakers on a rolling arrangement with no fixed tenancy
The Frockwork Orange boutique features a cathedral ceiling and wooden beams. Photo / Supplied
Kong says the 529sq m single-storey building was constructed in the late 1960s, and sits on 1360sq m of land.
Neighbouring retail tenancies piggy-backing off the route’s high traffic numbers include Countdown, PGG Wrightson and Z-energy.
“The Ma Bakers tenancy has been fitted out with a full commercial kitchen — including walk-in chiller and stainless-steel food prep area.
The open-plan Frockwork Orange outlet, with cathedral ceiling and wooden beams, is fitted out with an enticing glass frontage and changing rooms.
“Each retail tenancy has its own staff bathroom amenities,” Kong says.
He says that, subject to South Waikato District Council approval, the block could substantially increase revenues by hosting billboards and advertising above the retail premises.
“There is now just a small advertising hoarding on the roofline, promoting Ma Bakers. However, the length and prominence of the block facing St H1 could sustain more advertising of generic consumer and corporate brands.
“With the Tirau St property sitting at the northern entry point to Putaruru, it’s one of the first commercial entities seen by motorists coming into the central business district.”
As a rural services town, Putaruru is roughly equidistant between Hamilton, Tauranga and Rotorua.
It is generally regarded as the “smaller brother” of nearby Tirau, which has transformed from a similar-sized rural services town into a coffee-stop/antiques and collectibles destination for motorists driving from Auckland to Rotorua, or Auckland to Taupo.