High profile Raglan shops listed

A high-profile piece of Raglan’s main CBD retail strip anchored by a national laundromat operator is up for sale with a basket load of appeal for investors.

The buildings for sale at 37-39 Bow Street sit beside the art deco Town Hall in the heart of the town centre, surrounded by cafés, eateries, boutique retailers and professional services.

The site’s three tenancies are fully leased to Liquid Laundromats Limited and established local businesses, Raglan Bakehouse Café and accommodation property management company Shoreline Realty Limited.

The leases generate a combined annual rental return of $119,947 plus GST, rates and insurance.

The current weighted-average lease term is approximately 3.2 years, with rights of renewal if exercised providing final expiries between 2032 and 2046.

Bayleys salesperson Jordan Metcalfe said the upcoming sale offered a rare chance for buyers to secure a foothold in the heart of the thriving Waikato beach and surfing mecca.

“With supply tightly constrained and vacancy rates consistently low, commercial property on Raglan’s main street seldom comes to market. That makes this a compelling opportunity for investors seeking long-term security in a premier coastal township.

“Raglan’s population is growing strongly thanks to its rare blend of coastal lifestyle and connection to the major city of Hamilton. The town also enjoys a strong tourism sector. Together this sustains an increasingly vibrant town centre with robust commercial demand,” Metcalfe said.

The freehold land and buildings at 37-39 Bow Street, Raglan, are being offered for sale through Metcalfe and colleague Rebecca Bruce of Bayleys Hamilton.

The property will go under the hammer at an auction on Thursday 19 March, unless it is sold prior.

The approximately 213 square metres of buildings are underpinned by some 486 square metres of freehold land.

Bruce said the well-maintained property benefited from standout main street frontage, plus rear access and plenty of onsite parking supplemented by parking on Bow Street.

The site forms part of the Town Centre Zone under the Waikato District Plan.

“This zone’s mixed-use provisions, permitting a variety of commercial, community, recreational and residential uses, offer new owners the chance to explore future add-value or development possibilities.

“The site’s existing credentials as a commercial property investment are underpinned by its resilient and diversified income stream from three established local and national tenants,” Bruce said.

New Zealand owned and operated Liquid Laundromats Limited operates a network of over 120 self-service laundry facilities nationwide. Its Raglan washing-and-drying facility caters to locals, visitors and holidaymakers.

Raglan Bakehouse Café and Roasts has been on site for nearly 12 years. Its offerings of fresh baking, coffee and roast meals are also popular with locals and visitors.

Shoreline Realty Limited is a property management business providing residential/accommodation and commercial services to the growing Raglan market.

Bruce said the property and tenant businesses benefited from being in the heart of Raglan’s established retail and hospitality precinct.

“The location benefits from strong daily traffic flow and excellent street presence, making it ideal for businesses seeking visibility in a tightly held coastal market,” Bruce said.