The freehold land, buildings and business sustaining a popular regional self-storage complex have been put on the market
for sale.
Marketed as the Eastern Bay of Plenty’s premium commercial storage facility, Whakatane Secure Storage Centre has
successfully traded for nearly 20 years catering to diverse domestic and commercial needs.
The modern secure complex at 51-53 Te Tahi Street, Whakatane, is strategically positioned about 3.5 kilometres south of
the town’s central business district and 100 metres from the Whakatane/Taneatua highway.
Its location and versatile storage offerings have helped to ensure consistently high occupancy levels. The business
generated net income of $239,553 plus outgoings and GST in the year to March.
Now on the market, the Whakatane enterprise is expected to attract strong buyer interest from owner-operators and
passive investors.
“This is a business that requires minimal management and can generally be run part-time by one person,” said Brendon
Bradley of Bayleys Real Estate.
“As such, it will be a pretty enticing proposition for a local or an investor from further afield keen to buy into the
dream of living and doing business backed by the Bay’s superb lifestyle and climate.
“Storage sites generally are known to generate strong income. Those that have changed hands in the past year or so
nationally have typically sold at yields of between 4.7 and 6.9 percent,” Mr Bradley said.
Whakatane Secure Storage Centre is being marketed for sale as a freehold going concern by the family sales team of
Brendon, Lynn and Ryan Bradley of Bayleys Tauranga. Sale will be by way of an auction on Wednesday 15 September, unless
it is sold earlier.
The purpose-built storage complex comprises five buildings constructed in the early 2000s with a total gross building
area of approximately 2,137 square metres, on some 4,228 square metres of freehold land. The site has about 70 metres of
frontage to Te Tahi Street, from which it has drive-on access.
Brendon Bradley said the buildings contained some 110 units in a wide range of sizes.
“The buildings feature high-quality construction with a combination of concrete and concrete block foundations,
predominantly timber framing and Coloursteel roofing. Most external walls are clad with Coloursteel, with concrete
tilt-slab to three sides of one building,” said Mr Bradley.
“All units have fire-rated wall linings, pest control is carried out regularly and the complex is approved for insurance
purposes.
“The site is fully fenced with security lighting, an automated entry/exit gate and wide concrete-paved drives and yard
areas for ease of access. All units are individually alarmed as part of an electronic security system which is monitored
24/7 by a national security firm. Users have around-the-clock access to their unit via a personal security fob.”
A rear grassed area at 51 Te Tahi Street currently provides external storage as required. This would lend itself to the
development of further units to accommodate future growth, Mr Bradley said.
Lynn Bradley said units across the five buildings ranged in size from 10 to 175 cubic metres, with roller-door heights
of between 2.2 and 3.18 metres.
“The biggest of these are suitable for storing commercial equipment or large personal ‘toys’ such as boats and
campervans.
“With international travel in the ‘too-hard’ basket for many in the Covid era, a lot of Kiwis are investing in these
types of assets to support domestic recreation and travel, which is only adding to demand for this kind of storage,” Ms
Bradley said.
Rental rates for units at the Whakatane complex currently range from $140 to $490 per month, including GST, with
potential upside subject to market review.
The business offers long-term and short-term rentals, with rent payable monthly in advance or weekly by automatic
payment, with a minimum rental cost of one month’s rent.
“The convenient location and multiple tenancies across a wide range of unit sizes, configurations and rental terms
ensures consistently strong demand from a variety of individual and commercial users, strong revenues and a solid spread
of risks,” said Ms Bradley.
More detailed information on assets and business performance is available to potential buyers subject to signing a
confidentiality agreement.
Ryan Bradley said the Te Tahi Street site formed part of Whakatane District Council’s Light Industrial zone, which is
dominated by manufacturing and processing activities and commercial services. Some small-scale or ancillary retail
activities are permitted for the convenience of workers.
Neighbouring occupiers include VTNZ, Carter’s Tyres, electricity company Horizon Networks and the Whakatane Transfer and
Recycling Centre.
Mr Bradley said the opportunity for buyers of Whakatane Secure Storage Centre was underpinned by growing recognition of
the town’s attractiveness as a place to do business.
“With a population of about 15,000, Whakatane is the biggest town and main service and administrative hub for the
Eastern Bay of Plenty. It has excellent air, rail and road links. It’s within 100 kilometres of Rotorua and Tauranga and
in easy reach of about half of New Zealand’s population.
“The town lies in the heart of a buoyant and diverse regional economy, with strengths in multiple industries such as
tourism, dairy, horticulture and forestry,” Mr Bradley said.