Prime Retail With Huge Potential | 36-38 Te Heuheu Street, Taupō

Information Memorandum 36-38 Te Heuheu Street, Taupō Prepared by Talk Property Limited Lucy Baxter | 022 040 9486 | lucy.baxter@naiharcourts.co.nz

May 2022 - Residential / Commercial / Lease / Rural / Property Services

Contents 03

04

05

The Opportunity

Key Property Points

Poperty Summary

06

07

08

Property Images

The Layout

Script

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10

11

Titles (Extract)

Town centre

Titles (Extract)

Environment

12 Areial Map

Lucy Baxter | 022 040 9486 07 378 1112 | lucy.baxter@naiharcourts.co.nz 49 Te Heuheu Street, Taupō 3330 | PO Box 978 Simply The Finest Real Estate | 02

The Opportunity NAI Harcourts Taupō are pleased to present 36-38 Te Heuheu Street, Taupō to the market for sale, priced at $2,700,000 plus GST (if any).

• Te Heuheu Street is the mecca for retail services located in the heart of Taupō’s CBD • A two (2) story building offering seven (7) parking spaces at the rear of the building • The Ground floor offers heavy foot traffic for shoppers, with the first floor overlooking the bustling township • Minimal vacancy in the immediate area, making Te Heuheu Street a highly sought after location for businesses • Concept plans for residential apartments on the first floor (subject to resource consent) available upon request

This information memorandum has been prepared by NAI Harcourts solely for the information of potential purchasers to assist them in deciding whether they are sufficiently interested in the property offered for sale to proceed with further investigation of the property. This information does not constitute all or any part of an offer or contract for sale, and is intended as a guide only. The information contained in the memorandum has been prepared in good faith and with due care by NAI Harcourts. Potential purchasers should take note however that the calculations contained in the memorandum are based on figures provided to NAI Harcourts by others. Any projections contained in the memorandum therefore represent best estimates only and may be based on assumptions, which while reasonable, may not be correct. NAI Harcourts has not measured the building or the tenancies and gives no undertaking or warranty that the floor areas contained in this document are accurate. Potential purchasers should not rely on any material contained in this information memorandum as a statement or representation of fact but should satisfy themselves as to its correctness by such independent investigation as they or their legal or financial advisors see fit. No liability for negligence or otherwise is assumed by NAI Harcourts for the material contained in the information memorandum.

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Property Points 36-38 Te Heuheu Street

The Property

The Sale Process

Shops

Property Address

Method Of Sale

- Two (2) retail shops located in the heart of Taupō CBD - 1 Fully vaccant area on first floor ready for developement - Plans for apartments can be provided upon request (Subject to resource consent)

36-38 Te Heuheu Street, Taupō

Priced as $2,700,000 plus GST (if any)

Additions - Bathrooms - Staff car parking located at the rear of the premises - Concept plans avaliable

Outlook Over looking a bustling CBD hub and township from the ground floor and first floor

Heating Main heating source is heat pumps located in the ground floor premises

Key Highlights •

Located in the heart of Taupō’s bustling CBD

•

Heavy foot traffic creating attractive retail & commercial opportunities for this property

•

Seven (7) staff car parks with easy access

488 sqm (more or less)

•

Significant opportunity to expand on the first floor with concept plans

Parking

•

Historically low vaccancy in immeadite area creating a perfect opportunity for an astute developer or investor

Floor Area 695 sqm (total area of all buildings)

Land Area

Seven (7) car parks located at the rear of the premesis

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Property Summary 36 - 38 Te Heuheu Street, Taupō.

Property Type:

Commercial

Legal Description:

Lot 2 Deposited Plan South Auckland 6711

Total Land Area:

488 square meters (more or less)

Total Floor Area:

695 square meters (more or less)

Taupō District Zoning:

8A

Rating Valuations:

$3,101,000

Land Value:

$830,000

Improvements Value:

$2,180,000

Valuation Date:

1 July 2019

Valuation Address:

38 Te Heuheu Street, Taupō

Valuation Reference:

07302-13400

NBS Level:

70%

Parking Freestanding:

Seven (7) car parks located at the rear of the premises

Land Use:

Commercial

TDC Rates

$22,700.07 inc GST

Waikato Rates

$1,330.78 inc GST

Key Features •

Two (2) national tenants returning a net rental of $106,629.50 + GST p.a

•

Massive potential to “Add Value Buyers”

•

Located on Taupo’s busiest retail street

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Retail Store 1 Little Trooper

Retail Store 2 Stirling Sports

First Floor

Vaccant Space

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The Layout

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36 - 38 Te Heuheu Street, Taupō

P

rime Retail With Huge Potential

Located on Taupo’s busiest retail street sits this two-storey building and has seven car parking spaces, which are in high demand in Taupō.

To the side of the building is pedestrian access to Horomatangi Street, being Taupō’s second busiest retail street.

Historically there is low to no vacancy in the immediate area. Needless to say, the foot traffic is tremendous.

On the ground floor are two national tenants returning a net rental of $106,629.50 + GST p.a.

The first floor of c.360m² has been completely cleared ready for the development for the “add value” buyer.

There are concept plans for residential apartments (subject to resource consent) available upon request.

This property really does sit in the heart of Taupō’s CBD and with the views from the first floor, this opportunity is not to be missed.

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Net Income (Excl GST) Net Income:

$115,664.00

OPEX:

$27,103.25

Less Unrecovered OPEX:

$9,034.41

Total Net Income:

$106,629.59

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Titles (Extract) Identifier

RECORD OF TITLE UNDER LAND TRANSFER ACT 2017 FREEHOLD

SA35D/650

Search Copy

Identifier Land Registration District Date Issued

SA35D/650 South Auckland 20 March 1986

Prior References SA1771/79 Estate Area Legal Description

Fee Simple - 1/2 share 488 square metres more or less Lot 2 Deposited Plan South Auckland 6711

Registered Owners Donald Kelvin Putt, Margaret Anne Putt and Don & Anne Putt Trustee Company Limited as to a 1/2 share Donald Kelvin Putt, Margaret Anne Putt and Don & Anne Putt Trustee Company Limited as to a 1/2 share Interests

Transaction ID 68672602 Client Reference

Search Copy Dated 08/04/22 3:47 pm, Page 1 of 2 Register Only

Transaction ID 68672602 Client Reference

Search Copy Dated 08/04/22 3:47 pm, Page 2 of 2 Register Only

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Titles (Extract) Identifier

RECORD OF TITLE UNDER LAND TRANSFER ACT 2017 FREEHOLD

SA35D/653

Search Copy

Identifier Land Registration District Date Issued

SA35D/653 South Auckland 20 March 1986

Prior References SA1771/79 Estate Area Legal Description

Fee Simple - 1/2 share 488 square metres more or less Lot 2 Deposited Plan South Auckland 6711

Registered Owners Donald Kelvin Putt, Margaret Anne Putt and Don & Anne Putt Trustee Company Limited as to a 1/2 share Donald Kelvin Putt, Margaret Anne Putt and Don & Anne Putt Trustee Company Limited as to a 1/2 share Interests

Transaction ID 68672740 Client Reference

Search Copy Dated 08/04/22 3:51 pm, Page 1 of 2 Register Only

Transaction ID 68672740 Client Reference

Search Copy Dated 08/04/22 3:51 pm, Page 2 of 2 Register Only

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Taupō Town Centre Environment The Taupō Town Centre Environment covers all of the Taupō town central business district, as well as the Tongariro Domain and Landing Reserve at the Taupō Boat Harbour. Broadly this area is identified as the Taupō town centre; because it is a broad continuity of activity that together contributes to the character and successful operation of this location, as the commercial hub for Taupō town.

Town centre activities principally consist of the sale of goods and the provision of services, and over the years they have defined the character of this location. In more recent years, use of the Tongariro Domain for commercial and community events based activity has added another dimension to the overall success of the town centre. This existing character is reflected in Taupō Town Centre Environment provisions which allow for a higher intensity of development in comparison with the other environments of the District.

The town centre is a place where there is considerable investment in land and buildings, both public and private. Roading and community infrastructure is provided to a high standard that allows intensive development, which then provides the ability for land owners to optimise their returns by creating multi-story/multi-use buildings. This is important when it comes to achieving the objectives of creating a compact and efficient town centre, which is vibrant and meets the commercial and social needs of the town community and wider District.

The District Plan provisions for the Taupō Town Centre Environment have been designed to allow for commercial growth, and promote and protect the town centre as a highly valued resource. However, while this environment can be considered to be generally robust, activities with an inappropriate scale of development and level of effects can still adversely affect the character, amenity and functioning of this environment.

The area is dependent on the efficient functioning of traffic and pedestrian flows, and the character and continuity of the streetscape. Therefore, the Taupō Town Centre Environment should be managed to maintain and enhance the functioning and amenity values which make it an effective and attractive place to visit and undertake business.

The Taupō town centre has undergone structure planning, which is encapsulated in the 2011 Taupō Urban Commercial and Industrial Structure Plan (TUCISP). This document provides a Vision, guidance and direction for urban renewal and new development of both the public and private realm within the Taupō Township, and the District Plan provisions relating to the Taupō Town Centre reflect the high level goals contained in the TUCISP. There is a strong emphasis on achieving quality urban design outcomes in the TUCISP, and although the District Plan does not provide this same level of detailed direction, it provides the statutory implementation of the urban design objectives contained in the TUCISP. Activity requiring a resource consent will be expected to demonstrate an appropriate level of response to achieving quality urban design outcomes.

Source from: https://taupo.isoplan.co.nz/eplan/#/Property/924

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Taupō Town Centre Map 38 Te Heuheu Street 37

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The information displayed has been taken from Taupo District Council's GIS databases and maps. It is made available in good faith, but its accuracy or completeness is not guaranteed.

Position of property boundaries are INDICATIVE only and must not be used for legal purposes. Cadastral information sourced from Land Information New Zealand. Crown Copyright Reserved. This map is not to be reproduced without permission

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