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Property investors in the firing line as former military museum site goes up for sale

The Central Waikato property consists of some 14.729-hectares of flat land and a multitude of buildings. Within the property is:

• A substantial 600-square metre barn-style industrial building serviced by a sealed yard and surrounded by an additional 400-square metres of ancillary sheds - which have previously been utilised to showcase the museum’s displays
• A pair of separate three-bedroom homes – one measuring 200-square metres, and the other measuring 160-square metres
• A substantial portion of grassed pasture leased to a neighbouring farmer for maize production and stock grazing – with irrigation water supplied by a bore.

The property is situated in Waikato’s Tauwhare district - just a few kilometres from State Highway 26, which in turn connects to State Highway 1B just a short distance away. Tauwhare is conveniently triangulated between Hamilton some 20 minutes’ drive to the west, Cambridge just 12 minutes’ drive to the south and Morrinsville approximately 15 minutes’ drive to the north-east.

The freehold land and array of buildings at 1149 Victoria Road at Tauwhare are now being marketed for sale at auction on October 28 through Bayleys Hamilton. Salespeople Josh Smith and Peter Kelly said that from an investment perspective, the rural-based property was incredibly diverse - with the potential to derive investment returns from the three different asset classes within the real estate market.

Mr Smith said the property would appeal to a broad range of owner/occupier buyers looking to derive revenue from multiple income streams - across the rural sector, the industrial buildings, and the two residential dwellings.

“It’s rare to find a property like this which has such a diverse assortment of investment opportunities within its rural zoning under the Waipa District Council plan,” Smith said.

Subject to existing use rights, the large barn/warehouse for example could easily sustain a manufacturing, haulage, or engineering-related business – with the benefit of having a high roller door access at the front of the building.

“Sitting at the front of the property, and away from the residential dwellings, the industrial premises is easily accessed off Victoria Road – which in turn provides efficient arterial route access to Hamilton, Cambridge and Morrinsville.

“Meanwhile, the surrounding rural land on the property are used in the primary sector. With a proven history of maize production and sustaining run off stock, the fenced paddocks around the central hub of buildings are an additional source of income – with the existing lease holder open to continuing the arrangement with any new owner.”

The pasture land is currently leased for approximately $1,700 per month, with a lease in place through until March 2022.

“Alternatively, the Victoria Road property could be bought by a farmer looking for reliable feed and grazing paddocks as run off pasture for their own dairy or dry stock herds,” Smith said.

“Rounding out the trifecta of investment options, the two residential dwellings within the address could be purchased as rental properties with a forecast earning potential of more than $33,000 per annum. Or they could be utilised for short stay accommodation through the like of Air BnB.

“On the other hand, either of the two homes could be assigned as owner-occupier assets linked to either the rural or industrial aspects of the property. There is also a knoll within the property which, subject to council consent approval, would be ideal for the creation of a substantial new lifestyle block homestead which would have incredible views over the surrounding countryside.

“With a large acreage of pasture land and multiple buildings within the landholding, the property could also be developed to accommodate an equine-related tenancy, either as a lifestyle block or potentially as a commercially-operated entity.

“The larger of the two homes is surrounded by established gardens and landscaped grounds providing a truly rural vista. Under that lifestyle residential dynamic, the array of sheds could be used as storage or workshop facilities for someone with a hobby - such as motor racing or sailing - which requires access to large workshop space.”

Click here for more information on the listing.

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