Te Kuiti PGG Wrightson investment for sale

The land and building housing a rural branch of New Zealand’s foremost rural supplies and services company, listed on the New Zealand Stock Exchange, has been placed on the market for sale.

Rural supplies premises on a 3,963sqm site

The well-established premises in the heart of Te Kuiti on the border of the South Waikato and King Country districts features a warehouse-style 1,270-square metre retail and commercial building sitting on some 3,963-square metres of flat freehold land, and is exclusively occupied by PGG Wrightson.

PGG Wrightson has traded for more than 170 years

Listed on the New Zealand stock exchange, PGG Wrightson has been trading in New Zealand for more than 170-years. PGG Wrightson’s current entity was formed in 2005 through the merger of Pyne Gould Guinness and Wrightson – with both founding companies having long histories dating back to 1851 and 1861 respectively.

Te Kuiti branch forms part of national network

PGG Wrightson’s Te Kuiti branch is part of the brand’s national network of 89 stores with locations stretching from Kaitaia in the Far North to Invercargill in Southland – selling agricultural and horticultural supplies, pasture improvement products, seeds and grains, water and irrigation plant, as well as specialist livestock, animal health and nutrition, wool, water, real estate, financial advice, and insurance services.

Central commercial location in Te Kuiti

The Rora Street address is zoned for commercial use under the Waitomo District Council plan, and sits virtually in the middle of the town’s central business hub. PGG Wrightson has occupied the prominent Te Kuiti location for 20-years.

Te Kuiti investment heads to auction

The town centre land and building at 57 Rora Street in Te Kuti are now being marketed for sale at auction on December 3 through Bayleys Waikato. Salesperson Josh Smith said the property’s split retail/warehousing, and extensive outside yard space, perfectly suited PGG Wrightson’s business needs.

Retail and warehouse layout supports operations

“The open-plan format of the front retail portion of the building allows the company to showcase its products in a stacked shelving presentation, while roller door access from the side and rear of the high stud/concrete floored warehousing portion of the store allows farmers to conveniently drive through and load up their utes and trailers under cover,” Smith said.

“More than half of the outside gravelled yard space is used for the storage and display of larger commonly used farm products such as aluminium gates and fences, an extensive range of fencing poles and timber framing, and various sizes of drainage and irrigation piping.

“Meanwhile, PGG Wrightson strategically utilises the building’s busy main street location to display its distinctive blue and green tinged brand livery, along with full window height advertising and marketing signage of its multiple products and services.”

Building rated above 67 percent NBS

Commercial office space and staff amenities are also contained with Rora Street-facing portion of the single-storey concrete block walled building which has a new building standards rating in excess of 67 percent. The business is classified as an ‘essential service provider’.

Dual street access and customer parking

Smith said the fully fenced site contained sealed parking for 14 vehicles adjacent to its retail portion along with dual entry/exit entrances onto Rora Street, with additional gravelled parking for vehicles collecting products from its substantial rear yard which has access off Taupiri Street. On-street parking is also available outside the venue on Rora Street.

“Vehicular ease of access is paramount at this location to ensure an efficient customer experience, and the dual access routes from both Rora Street and Taupiri Street – along with ample turning spaces – guarantee this dynamic,” Smith said.

Lease income and renewal options extend to 2042

PGG Wrightson’s’ tenancy within the premises currently generates annual income of $98,086.85 plus GST and operating expenses, with an additional monthly amount of $226.32 plus GST for capital works. Market rent reviews for the property are linked to the Consumer Price Index. PGG Wrightson is on a current lease running through to 2030, with four further three-year rights of renewal – providing a potential occupation through to 2042.

King Country economy supports rural services

Te Kuiti has an estimated population of 4,670 people living within its urban boundary of approximately 8.41-square kilometres. Its population has been growing in size slowly but steadily since 2013.

Making regular visits to PGG Wrightson’s Te Kuiti branch, large scale hill country sheep and beef farming ventures sustain the majority of primary produce activities in the King Country region, while dairy farming and forestry operations are active in areas underpinned by respective topographies. Nearby retail operations to the 57 Rora Street address include New World Te Kuiti, The Warehouse Te Kuiti, and Repco Te Kuiti.