Farm on SH1 with seven titles has subdivision potential

Media Release

5.12.2016

Farm on State Highway One with seven titles has subdivision potential for multiple future uses

Caption: A former Waikato dairy farm on SH1, with seven titles and multiple future use options adjacent to industrial zoned land, has been placed on the market for sale.

A former dairy farm adjacent to one of the North Island’s biggest industrial-grade recycling plants has been placed on the market for sale. From one to all seven titles, there are options to suit!

In the most strategic location, the 57 hectare block on State Highway One sits midway between Auckland and Hamilton, and neighbours industrial zoned land. Encompassing seven titles and views over the Waikato River, the farm is located beside the former Meremere coal-fired power station which was decommissioned in 1991 after 33 years of service.

The railway running through the property is the main North Island trunk line which previously brought in coal to the former power station from mines around the Huntly region.

The Meremere power station is now used as an industrial-grade recycling plant run by Auckland-based Nikau Contractors. The 26 hectare site processes demolition materials from large knocked down commercial and industrial properties across the Upper North Island.

Nikau Contractors is one of the biggest demolition and debris removal companies in Australasia – responsible for breaking down power stations, steel mills, bridges, port facilities, refineries, and office blocks.

The 57 hectare freehold block of farm land next to the recycling plant is being marketed for sale by tender on December 13 by Bayleys Hamilton. Salespeople Karl Davis and Lee Carter said the upper slopes of the farm are currently used as a run-off farm for grazing stock, while the fertile lower-lying flat blocks adjacent to State Highway One sustain intensive maize cropping.

Mr Davis said the farm is currently leased on a one-year term for $35,000 per annum, with first rights of renewal. In addition, the farm contains two three-bedroom dwellings generating a combined rental income of $25,000 per annum.

Infrastructure on the farm includes a decommissioned 16-aside herringbone milking shed, five bay implement shed and good stock loading facilities. The property is fully fenced and drainage has been laid under the lower paddocks.

Mr Carter said the Meremere site has multiple potential future uses.

“It can be retained in its current format as rural productive land. Or, being in seven separate titles, it could be subdivided into various configurations of lifestyle residential sections. Or, subject to council zoning reclassification, the lower slopes adjoining the highway could be converted into industrial usage,” he said.

Two of the titles (approx. 21hectares) form the perfect lifestyle property to build your dream home. Featuring established trees and wetland views, with possible access via a separate entrance on Island Block Road.

The current tenant of the run-off blocks would certainly entertain the opportunity to discuss on-going leasing terms for stock grazing. Likewise with the residential tenancies.

These revenue streams make the property a pure investment opportunity, or would deliver holding income while alternative resource consent is acquired to develop the block for alternative uses.

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