Thames site could be developed for retail

This 2.55ha investment property at 79 Kopu Rd, Thames, is dominated by the PlaceMakers store.

Big 2.55ha industrial property has had conceptual work done to boost use.

A high-profile freehold industrial property, with nationally recognised tenants including a large PlaceMakers store and extra land available for redevelopment, has been placed on the market.

The site at 79 Kopu Rd, next to the Kopu Bridge near Thames, totals 2.5578ha and is occupied by three modern buildings.

"Preliminary design work has been completed for a potential retail development on the balance of the land," says Andrew Shaw of Bayleys Waikato, who is selling the property by tender, closing on September 19, with agency colleague Mike Swanson.

Shaw says the owner had conceptual work undertaken to determine how to maximise the capacity of the large site. "The opening of the two-lane Kopu Bridge back in December 2011 streamlined the considerable traffic flows crossing the Waihou River to the Coromandel Peninsula," he says.

"Traffic now passes along the southern side of the property linking back up with State Highway 35 at a large roundabout to the east. This amplifies the appeal of the site for future development with retail being an obvious choice.

"The design concept is based around a minimum of nine retail outlets with plenty of off-street parking and confirmed interest has already been expressed by local and new businesses looking to relocate and take advantage of the huge exposure this site offers.

"The site is 'pre-loaded' with materials which would streamline any new building work because no additional pre-foundation work would be needed," says Shaw. "Prospective buyers would obviously need to conduct their own investigations into the feasibility and practicalities of development as it is at a conceptual stage."

Swanson says the existing three buildings on the site co-exist well with their own dedicated spaces. PlaceMakers occupies a 5498sq m land area in a two-level building constructed in 2007, with a total floor area of 1983sq m and a lease, which has a final expiry of 2019.

"This is a purpose-built premises for PlaceMakers, featuring a showroom with glazed entry and automatic doors, a drive-through area with multiple roller doors, ground-floor offices, administration areas, toilet amenities, along with a generous mezzanine level with staff facilities and storage," says Swanson.

A second building with a floor area of 784sq m, built in 2005, is home to Mainfreight NZ and occupies a site of 2012sq m. This building has a reception area, office space and staff amenities with a large attached industrial building with a sizeable canopy to the eastern side. "Mainfreight's lease has a final expiry of January 2014 although indications are they may be interested in entering into a new lease beyond this date," Swanson says.

A haulage firm has a month-by-month tenancy on the third building, comprising office areas, showroom, reception, dispatch area and staff amenities with a main open building comprising five bays and a canopy.

Tenants pay a proportional share of outgoings and full lease details are available to interested parties.

A Kopu to Thames Structure Plan included in a Thames Coromandel District Council 2012 report provides a further 50ha of industrial zoning and an additional 135ha for more than 1000 new dwellings to cater for expected growth in the area which lends weight to any future development undertaken on this prime site.
What's on offer

For sale: Big Waikato industrial site.
Where: 79 Kopu Rd, Thames.
Sales method: By tender.
Deadline date: Thursday, September 19.
Agency: Bayleys Waikato.
Features: Three buildings include PlaceMakers store, spare land for more buildings on site and concept plan for retail development.