Store caters all year to vacationers

A main drawcard is a high-profile Caltex forecourt and pumps fronting State Highway 1, and the Hungry Trout Cafe is one of the profitable business arms. Photo / Supplied

Known to locals, trout fishers and holidaymakers simply as The Store, a well-known property and business that is being offered as "five enterprises in one package" is up for sale in the settlement of Te Rangiita, just north of Turangi.

The Store, at 265-267 State Highway 1 near the renowned Tauranga-Taupo trout river, is being offered for sale by Elaine Westerman of Bayleys' Taupo office. Tenders close at noon on September 17.

"This is a property and business that will appeal to owner-operators or investors who are seeking a dynamic, multi-faceted business with plenty of upside and opportunity for growth," Westerman says.

Located close to the shores of Lake Taupo and with a strategic SH1 frontage, The Store is a one-stop supermarket, sports and fishing-tackle shop, petrol station, cafe and holiday accommodation centre, strategically situated between Turangi and Taupo.

"Potentially, this could be the last petrol stop for a significant distance for motorists by-passing Taupo and heading north to Hamilton and Auckland when the new East Taupo arterial bypass from State Highway 1 opens in 2011," Westerman says.

The sale includes two adjoining land areas of 1617sq m and 1029sq m, a family home attached to the business and a neighbouring five-bedroom, fully furnished holiday home.

"Pete and Stella Gordon have owned, operated and significantly expanded The Store over 20 years and are they are something of a local institution," Westerman says. "They have thoroughly enjoyed the lifestyle that Lake Taupo and the Central Plateau area offers and serving many customers over the years - a number of whom have become their long-term friends.

"However, remaining open for seven days a week, 365 days a year for over two decades is a challenge to anyone, and now the time has come for Pete and Stella to pursue other business interests and to spend more time with their two children.

"On the upside, the sale of The Store will provide a fortunate new owner the opportunity to put their own stamp on the business and enjoy the growth that is clearly still available."

Westerman says increased trade through Lotto, ski-hire facilities or a bakery are some of the many ideas that could be developed.

The Store itself has been developed into a mini-supermarket offering a wide selection of fresh vegetables, fruits, grocery items, cheeses, meats, confectionery, wines, beer, soft drinks and magazines. It serves as a general store and Post Office for the local community.

The owners' accommodation is directly behind the main counter and till area, providing owners with a character three-bedroom residence including dining/lounge and kitchen area warmed by a cosy wood fire, bathroom and washhouse. The lounge leads out to a sunny north-facing private deck.

"For a new owner, there is also the option of using the neighbouring, larger, five-bedroom and fully furnished holiday home as owners' accommodation separate from the business," Westerman says.

A main drawcard is a high-profile Caltex forecourt and pumps fronting SH1. "The petrol and diesel supply under an existing agreement with Chevron expires in September 2009, but the owners are currently re-negotiating a new supply contract for a further five-year term.

"The tank and pipework within the service station operation are owned by the Gordons and will transfer in ownership to the new owners at settlement."

The steel tanks hold 50,000 litres of diesel, 15,000 of 91-grade petrol and 15,000 litres of 95 petrol.

The large forestry industry in the area provides regular customers for The Store who purchase petrol, diesel and lubricants, along with many holiday-home owners from several nearby lakeside settlements filling both boats and cars.

A third string to the business is the Hungry Trout Cafe, attached to The Store, which serves Morena Burton Hollis coffee along with a range of freshly baked produce, breakfasts and short-order meals from 7am to 5pm.

The fishing-tackle business comprises a vast array of trout-fishing tackle, reels, waders, jackets, boots, flies, spinners, nylon and other outdoor sporting equipment. This fourth arm to the business sells fishing licences, but dispenses sought-after information for free.

"Pete and Stella are viewed as 'fonts of all wisdom' when it comes to local fishing and hunting spots," Westerman says. The Store is also an "advisory centre" for anglers and boaties to determine river, lake and weather conditions - and for skiers to find out about snow conditions on Mt Ruapehu and the Central Plateau.

"This sports outlet is another area where the existing wader and fishing-equipment hire business could be expanded with ski hire and other outdoor equipment," Westerman says.

The fifth and final facet to the business is the holiday accommodation provided in the adjoining property, called Raukawa Lodge. This is operated as a full-time rental holiday home and provides good year-round revenue from regular holiday makers and for Lake Taupo's numerous special events like the Ironman, Lake Taupo Bike Ride and Lake Taupo Half Marathon.

Raukawa Lodge sleeps 12-14 comfortably and has a huge living area, two bathrooms and two toilets. Additionally, the house has a conservatory, large games room with slate pool table, separate dining, kitchen and lounge, and large outdoor areas for barbecues and socialising.

"It's an ideal holiday home for any big group or family," Westerman says. "With an annual rental return of $25,000 to $30,000 per annum, this provides a stable additional income source for a new owner. Alternatively it could be used for separate accommodation for anyone wishing for offsite business relief."

The Gordons work in the business full-time with two other-full time staff and three part-timers who have all become familiar with every aspect of the business over many years. Two additional staff members, often school or university students, are contracted to work over the busy summer period. A cleaner works one hour a day, ensuring the public toilets and common areas are always tidy and hygienic.

"The experienced locals, who have been with us for a long time, are happy to stay on under new ownership," says Stella Gordon. "Pete and I still intend to live in the Te Rangiita area and would be available to help a purchaser ease into the new business and to show them the ropes."

Stock on hand at any one time in the general store, cafe and service station, including alcohol, food, fishing gear and petrol, is worth around $130,000 to $140,000.

The sale includes numerous chattels such as coffee machine and grinder for the cafe, along with a panini press, hot plate, two fryers, refrigerators, cooking utensils and dishwasher. Among the store and sports shop chattels are chiller and freezer units, till and four Eftpos terminals, display cabinets, air compressor and generator wired to the switchboard, wine racks, beer rollers, hire waders, fly rods and reels and line winders.

Chattels within the owners' home and holiday house include stoves, floor coverings, curtains, washing machines, dryers, dishwasher, microwave oven, TV sets, furniture, dishes and cutlery.