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High profile rural services retail premises farmed out for sale

The prominent property in the main street of South Waikato rural services town Te Kuiti is home to farming supplies and advisory firm PGG Wrightson – classified as an essential services provider under the Government’s Covid-19 retail trading guidelines.

Servicing New Zealand’s rural productive sector for more than 160-years, PGG Wrightson is involved in the agricultural, pastural and horticultural industry sectors.

With 92 stores throughout provincial New Zealand, PGG Wrightson has operations in the sale and purchase of livestock at auction, wool brokering and exports, farm sales, irrigation advisory services, and insurance broking.

The company is listed on the main board of the New Zealand Stock Exchange, and in the 2020/21 financial year PGG Wrightson reported a net profit after tax of $22.7million.

Located at 57 Rora Street, PGG Wrightson’s Te Kuiti operations comprise a multi-faceted 1,270--square metre building situated on some 3,963-square metres of freehold land zoned commercial 8A under the Waitomo District Council plan.

Constructed of concrete block with long run iron roofing and aluminium joinery, the single-storey building has a new building standards rating of more than 67 percent.

Sitting between Rora Street and Taupiri Street – both serving as the hub of Te Kuiti’s central business district – the rectangular-shaped property is now being marketed for sale at auction on November 11 through Bayleys Hamilton. Salesperson Josh Smith said the various ‘zones’ within the property allowed the long-standing tenant to efficiently deliver its broad range of services and farm supply products.

PGG Wrightson Te Kuiti is on a current six-year lease at 57 Rora Street, with one further three-year right of renewal - generating annual rental revenue of $91,703 plus GST and operating expenses.

“PGG’s retail space is accessed from both the Rora Street frontage and from a warehouse adjoining the rear of the shop floor. The well-presented Rora Street frontage is split into two entrances – one for the PGG’s Wrightson’s real estate division, and the other leading into the company’s supermarket-style retail operations,” Smith said.

“Both the retail and office areas are temperature controlled by multiple wall-mounted air conditioning units. Staff amenities including bathrooms and a lunchroom are also contained within the building.”

Smith said PGG Wrightson’s Te Kuiti depot benefited from dual street entry points and was fully fenced. Products stocked within the showroom warehouse and outdoor yard feature animal feed, hardware, fencing and gate equipment, drainage pipes, clothing, animal husbandry and stock management equipment, fertiliser, and nutritional supplements.

“Outside the building, there is on-site sealed customer parking for 13 vehicles – with two entry/exit points off Rora Street. There is also substantial road parking outside the property on both Rora and Tauipiri streets,” he said.

“Curling around one side of the building is drive-through access to the secure yard, leading on to both the side and rear entrances of the high-stud warehouse showroom. All of these various zones allow for easy loading of farm supplies onto utes and trucks – with the warehouse providing a convenient all-weather space for customers.”

Smith said the building was seismic strengthened in 2015, with various portions of the premises upgraded by the owner over the ensuing years. The property is located close to two of Te Kuiti’s other ‘big box’ retailers – New World supermarket, and The Warehouse.

“PGG Wrightson’s status within the wider King Country farming community stretches back decades - and with sheep and beef farming as the region’s mainstay economic driver, there is no reason to believe that will change in the foreseeable future,” Smith said.

The Te Kuiti PGG Wrightson branch serves farms immediately around the town, west towards the coastal settlement of Marokopa and east along State Highway 30 through the northern edge of Pureora Forest Park stretching to Mangakino.

Click here for more information on the listing.

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