A versatile Te Awamutu commercial/residential property offering a rare combination of investment, lifestyle and functionality is tipped to attract diverse buyers when it goes under the hammer in April.

The centrally located site features a commercial tenancy leased to a local car valet service, plus a modern three-bedroom, two-bathroom apartment – a combination that will appeal to investors, tradespeople, first-home buyers or retirees seeking additional income, according to Bayleys salesperson Willem Brown.

“The commercial and residential components of this well-presented site present a unique live-work opportunity in the heart of one of Waikato’s most important and vibrant towns.

“The existing commercial lease to Absolute Valet ensures a reliable income stream of $24,960 plus outgoings and GST, while the attached residence offers the convenience of onsite living,” Brown said.

The current commercial lease runs through to 2026, with three further two-year rights of renewal.

The clear-span commercial facility with multiple roller doors is supported with plenty of onsite parking for employees and clients.

Brown said the residential component provided options for owner-occupiers or additional rental income.

“The apartment includes thoughtful features such as double-glazed living areas for enhanced comfort. Each bedroom is equipped with a double wardrobe. An outdoor living area and upstairs deck offer great additional space for enjoyment.

“Adding to the functionality, the residential space is designed for motorhomes, large caravans and classic car storage. It includes two high-clearance roller doors, a motorhome dump station and a grease trap – all consented – making this an ideal ‘lock-and-leave’ investment,” said Brown.

The freehold land and buildings at 303 Rickit Road, Te Awamutu, are being marketed by Brown, of Bayleys Hamilton, for sale by way of an auction on Thursday 10 April (unless sold prior).

The buildings of approximately 365 square metres are underpinned by some 668 square metres of freehold land.

The property sits amid a central hub of established local businesses plus big brands such as Woolworths, The Warehouse, Burger King, and a Z petrol station.

The site is zoned Commercial by Waipa District Council, recognising the status of Te Awamutu’s town centre as one of the district’s primary retail, office and commercial service hubs. The town’s central business district is supported by a large-format retail centre and a network of local shops.

“The Rickit Road property’s strategic location in this vibrant hub, with specialised facilities, makes it attractive for investors seeking a diversified asset with both income stability and growth potential.

“Its position with high-profile street frontage a few hundred metres from State Highway 3 ensures excellent visibility and accessibility, and easy connections to Hamilton and beyond,” Brown said.