The versatile factory, showroom and office premises housing a leading kitchen cabinetry supplier have gone up for sale at a high-profile site on New Plymouth’s CBD fringe.
Positioned prominently with wide frontage to main arterial Courtenay Street, the property is currently owner-occupied by Kitchen Designz, a locally owned company with a trading history spanning three decades under its current owners.
It is available to buyers with a proposed leaseback to the company returning an annual net rent of $160,000, with flexible lease terms and conditions up for negotiation.
The versatility of the more than 1,500-square-metre site also lends itself to various other future trade and retail uses and add-value options, including conversion to a dual-tenancy arrangement.
Kitchen Designz manufactures and installs custom-designed kitchens and provides other home cabinetry for the likes of wardrobes, bathrooms and laundries. Its clients range from homeowners to kitchen designers, kitchen joinery manufacturers and building firms.
Considered an industry pioneer, Kitchen Designz was among the first New Zealand suppliers to introduce computer-aided design software developed specifically for the design of kitchens. Its industry-leading production innovations have twice been celebrated with features in NZ Joiners magazine.
The freehold land and buildings at 225-229 Courtenay Street, New Plymouth, are being marketed for sale through Iain Taylor and Darryl Taylor of Bayleys New Plymouth.
The property is being offered by way of a deadline sale, with buyer offers due by Wednesday 20 September, unless it is sold prior.
Iain Taylor said the approximately 1,080-square-metre building sat on some 1,534 square metres of freehold land, with parking for 14 vehicles.
“The floor area is well apportioned, with a mix of showroom, ground/mezzanine offices and generous warehousing space. This opens doors to various uses and ensures a well-presented foundation for tenant businesses.
“Easy ingress and egress and generous on-site parking promote accessibility and convenience for customers and staff.
“The versatile layout and construction of these large-format premises also present an opportunity to diversify income streams with a dual-tenancy arrangement, increasing potential for return on investment. Future potential for split tenancies and separate sell-down is further supported by the land being in two titles,” said Iain Taylor.
Darryl Taylor said the variety of available options would heighten the Courtenay Street site’s appeal among add-value investors and eventual owner-occupiers.
“Importantly for buyers of all types, the premises sit at a very high-profile position, a short walk from the city centre, with plenty of vehicular traffic via the busy one-way system north which doubles as State Highway 3.
“This makes this a keenly sought-after trade and retail destination. Combined with the property’s wide frontage, this highly visible location provides excellent business branding possibilities,” Darryl Taylor said.
The Courtenay Street property forms part of the Commercial Zone – Mixed Use under New Plymouth’s district plan, with surrounding development typically made up of retail and commercial premises along with residential apartments nearby.