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Rural ‘one-stop shop’ land and building up for sale as a ‘one stop’ property investment

The land and building housing a provincially well-known Kiwi-owned and operated discount household products store have been placed on the market for sale.

The single-storey property at 34 Belmont Road in the Waikato township of Paeroa houses Sunny’s – a smaller version of The Warehouse but with carpet on the shop floor - which sells everything from camping and fishing gear alongside car care products, through to fancy dress costumes and healthcare accessories.

Sunny’s variety stores opened its first shop in Whangamata in 1995 and has grown steadily since. The chain now has six branches – two in Mount Maunganui, along with sites in Whanganui, Whangamata, Katikati, and the Paeroa outlet.

The Paeroa location at Belmont Street is zoned Commercial 8A under the Hauraki District Council plan. Now the 769-square metre freehold site and the 560-square metre concrete block constructed building at 34 Belmont Road are being marketed for sale at auction on August 6 through Bayleys Hamilton.

Salesperson Josh Smith said the property, and Sunny’s as the sole tenant, both benefitted from a 17-metre glass window frontage onto Belmont Road – allowing extensive showcasing of Sunny’s plethora of household wares and lifestyle products on the display racks inside.

“Inside, the open-plan retail space at the front of the rectangular-shaped store allows for aisle upon aisle of stacked shelves packed with a massive stock range. Meanwhile, the rear of the store contains facilities such as a kitchen area and toilet amenities,” Smith said.

“The rear of the building has double-door access to the loading zone and goods delivery area for restocking the shop floor. This portion of the property also features several goods storage sheds – enabling the main building to maximise its floorspace as a retail outlet.

“Sunny’s is affectionately known as Paeroa’s answer to The Warehouse – except that it is instantly recognisable through its yellow branding rather than as the ‘big red shed.’”

Mr Smith said customer parking was available immediately outside the store on both Hall Street and Belmont Road – the main retail strip running through the centre of Paeroa township, also known as State Highway 2.

“Neighbouring premises in the immediate vicinity include the likes of Hauraki District Council’s offices, multiple cafes and antique shops which Paeroa is famous for, and the standard array of service town retailers such as banks, pharmacies, and liquor outlets,” Smith said.

Sunny’s is currently on a three-year lease at the Belmont Road property, running through to 2022, and with two further six-year rights of renewal - generating annual income of $45,000 plus GST.

“Paeroa is one of the Waikato’s more prosperous townships – driven through the domestic tourism activities generated by both the Hauraki Rail Trail and the plethora of antique and collectables shops in the central business district which have made it a destination for this niche retail activity,” Smith said.

“That, in addition to its geographic position on the highway linking Auckland with the Bay of Plenty and lower Eastern Coromandel, ensures Paeroa has consistently-high traffic flows through Belmont Road. The Sunny’s building is one of the bigger premises in the town’s main retail strip.”

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