Meremere land primed for development

The 57ha block borders is on SH1 at Meremere midway between Auckland and Hamilton.

A former dairy farm beside one of the North Island's biggest industrial-grade recycling plants is now for sale.

From one to all seven titles, there are options to suit, says Bayleys Hamilton salesperson Karl Davis, who is selling the Meremere property with his colleague Lee Carter.

The 57ha freehold block of farm land is being marketed for sale by tender on December 13.

Davis says the 57ha block on State Highway 1 - sitting midway between Auckland and Hamilton, and bordering industrial-zoned land - is strategically located.

Encompassing seven titles, with views over the Waikato River, the farm is beside the former Meremere coal-fired power station which was decommissioned in 1991 following 33 years of service.

The Main Trunk Railway Line, which runs through the property, once delivered coal to the power station.

But this is now an industrial-grade recycling plant run by Auckland-based Nikau Contractors. The 26ha site processes demolition materials from large knocked down commercial and industrial properties across the Upper North Island.

Nikau Contractors is one of the biggest demolition and debris removal companies in Australasia - responsible for breaking down power stations, steel mills, bridges, port facilities, refineries and office blocks.

The upper slopes of the farm are currently used as a run-off farm for grazing stock, while the fertile lower-lying flat blocks adjacent to SH1 sustain intensive maize cropping.

Davis says the farm is leased on a one-year term for $35,000 per annum with first rights of renewal. In addition, it contains two three-bedroom dwellings generating a combined annual rental income of $25,000.

Infrastructure on the farm includes a decommissioned 16-a-side herringbone milking shed, five-bay implement shed and good stock loading facilities. The property is fully fenced and drainage has been laid under the lower paddocks.

Carter says the Meremere site has multiple potential future uses.

"It can be retained in its current format as rural productive land. Or, being in seven separate titles, it could be subdivided into various configurations of lifestyle residential sections. Or, subject to council zoning reclassification, the lower slopes adjoining the highway could be converted into industrial usage," he adds.

Two of the titles (about 21ha) form the perfect lifestyle property to build your dream home. Featuring established trees and wetland views, with possible access via a separate entrance on Island Block Road.

"The current tenant of the run-off blocks would certainly entertain the opportunity to discuss on-going leasing terms for stock grazing, says Carter. "Likewise with the residential tenancies. These revenue streams make the property a pure investment opportunity, or would deliver holding income while alternative resource consent is acquired to otherwise develop the block."