Convenience an appealing choice for pet store

Media Release

10.6.2019

Convenience an appealing choice for pet store on the market for sale

A pet store at the only convenience retail centre along SH1 between Auckland and Wellsford, has been placed on the marked for sale.

Pets North at 67 Auckland Road, The Grange at Warkworth, occupies 411.6 square metres, including a 106 square metre courtyard, in unit 5 and has a half share in unit 5C, generating annual net rent of $122,650. The freehold strata title unit is the last in The Grange owned by the developer.

Built three years ago, The Grange is located at the edge of Warkworth going south and is being marketed for sale by Bayleys Auckland salespeople Matt Lee and James Chan and Warkworth salesperson Henry Napier for sale by private treaty closing at 4pm on June 28.

The unit has three-phase power and fibre data cabling. A six-year lease with one

Six-year right of renewal expiring in 2030 was signed by locally-owned and operated Pets North in April last year, and any new owner of the property gets bank and personal guarantees. Rental growth is provided by annual adjustments to CPI and to market rates every three years.

Pets North has a large retail area where premium pet food, accessories and bedding are displayed.

Within The Grange there are a total of 29 units - many occupied by major national brands, such as McDonald's, Coffee Club, Domino's Pizza, St Pierre's Sushi, Tank Juice, Bottle-o, Kebabs on Queen, Vivo Hair & Beauty and Educare childcare. There is also a BP petrol station on the site.

Custom for the shops comes from passing motorists, the growing local population and the wider emerging catchment area, drawn in by the 12 metre entrance pylon and double-sided blade sign, on which every tenant has an allocated panel, giving significant exposure from both sides of SH1.

Mr Lee said the centre was well-established and benefited from a valuable

Right-hand turn - making it easy for passing vehicles going north and south to get into the site.

“Positioned along the eastern side of the complex is a relaxing pedestrian-friendly plaza with timber seating looking out to native vegetation. Connected to the plaza is a picnic lawn, plus a viewing deck and a timber swing bridge connecting the site to a cycle track through the bush,” Mr Lee said.

The immediate area around The Grange has a range of established businesses, including Mitre 10, Carters, Repco and VTNZ. Situated next to The Grange is the McKinney Valley residential development, a planned large-scale project of more than 400 houses.

Warkworth is the largest rural town in the northern part of Auckland, with a population of more than 4,000 people, which is expected to swell to 25,000 permanent residents by 2030. The town had 19.5 percent growth between the 2006-2013 census.

Historically regarded as more of a tourist and lifestyle destination, significant residential and employment growth is expected over the next 30 years with about 1,100 hectares earmarked as future urban land. This could accommodate about 7,500 additional houses for 20,000 people.

SH1 carves right through the centre of the town and serves as a gateway to the many villages and beaches along the Matakana and Kowhai Coasts.

SH1 will be detoured away from the town when the Pūhoi to Warkworth Road and Matakana Link Road are finished in late 2021. These projects will take through-traffic and freight away from the town centre and improve travel times to and from Warkworth.

Mr Napier said the development of quality transport links within Warkworth, as well as between Warkworth, Northland and the rest of Auckland will be critical to supporting the town's future growth.

Development will be staged over the next 20 years, reflecting demand and the provision of the necessary infrastructure upgrades.

Land uses in the area have evolved from shipbuilding and orchards to dairy and sheep farms, while horticulture, winemaking, tourism and forestry are now key contributors to the local economy. Lifestyle blocks, retirement housing and holiday homes have also become increasingly popular.

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