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‘World famous’ building adds plenty of fizz to commercial property market

Tags: Commercial

An industrial building which previously housed the ‘World Famous’ L & P soft drink production plant in the Waikato township of Paeroa has been placed on the market for sale.

An industrial building which previously housed the ‘World Famous’ L & P soft drink production plant in the Waikato township of Paeroa has been placed on the market for sale. Lemon & Paeroa – or L&P as it is now branded – was created in 1907 by combining the carbonated mineral water of Paeroa with lemon juice. The first bottling plant in the town was established in late 1908/early 1909.

A large commercial and industrial property on the corner of Station Road and Albert Street in Paeroa was first used as a bottling operation for the brand in 1926. Various expansions and refurbishments saw the Paeroa bottling plant increase in size over the ensuing decades until it was closed in 1980 and production moved to Auckland.

Now the 1062 square metres of freehold land and 900 square metre high stud building on the Station Road/Albert Street intersection are being marketed for sale at auction on May 18 through Bayleys Waikato. 

Bayleys Waikato salesperson Josh Smith said the property was located in the heart of the ‘Golden Triangle’ linking Auckland, Hamilton and Tauranga, and was zoned for commercial use under the Hauraki District Council plan.

He said the town – which intersected state highways two and 26 – had particularly prospered since the opening of the Karangahake Gorge Waihi-to-Paeroa leg of the Hauraki Rail Trail in 2013.

“While the building is structurally sound and operable in its current format, with some external redesign and refurbishment it could be easily brought up to a modern look befitting its presence on Paeroa’s main street,” said Mr Smith.

The building is constructed from block and corrugated iron with steel framed portals spanning the roof. The flooring is predominantly concrete on the ground level, with wooden flooring sustaining the mezzanine level.

Mr Smith said the premises was currently tenanted by a second hand goods shop at the front of the building, and a motor vehicle repair workshop/car wreckers operating from the back of the building and out onto the external yard. He said the tenant was trading on a month-to-month basis and was in a position to vacate the building with short notice - in line with any new owner’s request.

“The front portion of the building has a mezzanine level. Upstairs are several former offices now used as storage space. There is also an unconsented self-contained flat on the upper storey – comprising a kitchenette, shower, living area, and toilet. The ground floor has several smaller rooms to the sides,” he said.

“At the rear of the property a large high span double door opens to the main road, with a single high span door opening to the secure yard area accessed from Albert Street. Combined, these give a potential ‘drive through’ format to the warehouse aspect of the building.

“The internal building infrastructure is already there to sustain the full range of employee amenities a commercial business operator would expect to find – from office space, through to toilet and bathroom facilities, and a staff kitchen and lunch room area. For many commercial or retail tenants though, that basic framework of rooms and spaces does require some degree of refurbishment.

“Alternatively, with an industrial tenant in place, the existing amenities would be able to operate ‘as is’.”

Mr Smith said the expanse of gated yard space to the side of the building would suit a bulk retail business – such as a home building or landscaping store whose clientele consisted of DIY customers loading up their own trailers with stock, or tradies stacking supplies onto their utes.

“It would also be suitable for owner-occupation by a small to medium sized ’tradie’ such as a plumber or builder, or could even operate as a shared space between several like-minded service firms,” he said.

“There has also been the suggestion of developing the building and yard space into a self-storage facility. The proximity of Waihi to the east, Kerpehi and Ngatea to the north, and Te Aroha to the south, let alone the population of Paeroa, could well sustain this sort of commercial ‘lock up and leave’ facility.”

The land and buildings at 7 Station Road have a council rating valuation of $180,000. A new building standards (NBS) report on the building is currently being undertaken.

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