Strategic Northland gas station site set to stimulate investor interest

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The main road site housing a refurbished BP gas station on a long-term lease was put up for sale in a Northland location with few local competitors.

Located on a high-profile corner site in Moerewa, the BP 2go and Truck Stop is the colony’s only commercial service station. Its location on State Highway 1 between Kawakawa and Kerikeri provides excellent exposure to all northbound through traffic as well as residents and workers at local meat factories.

The land and freehold buildings for sale at 48-50 Main Road, Moerewa support the operation of a gas station with gasoline and diesel pumps and a truck stop, as well as a store and ATM.

The gas station has nearly 12 years to run over the term of the current lease with an additional five-year renewal right which, if exercised, would run until 2038.

The property generates net rental income of $ 92,787 plus expenses and GST per year, with fixed annual rent increases of 1% and market reviews every three years.

The land and buildings at 48-50 Main Road, Moerewa are being offered for sale by Tony Chaudhary, Amy Weng and Janak Darji of Bayleys Real Estate.

The sale will take place before the private contract closes on Thursday, November 25, unless the property sells earlier.

Chaudhary said the site for sale included approximately 2,010 square meters of zoned commercial land on two freehold titles.

“The property houses six fuel pumps in three side-by-side bays, as well as a truck stop, with an awning of approximately 314 square meters and a retail store of approximately 175 square meters. The structures have an Seismic Initial Assessment Procedure A-plus rating of over 100 percent of the new construction standard.

“The tenant recently installed two nearly new 50,000 liter underground fuel storage tanks. The glass roof of the forecourt has been modernized and the store has a new modernized interior. A small yard is also available at the back of the site, ”Chaudhary said.

Weng said the property is on the western end of the main Moerewa commercial strip, at the corner of Main Road / National Road 1 and Marshall Street.

“The gas station has a frontage of approximately 40 meters and two entry and exit points on State Highway 1, plus a frontage and access from Marshall Street.

“The site is well located to serve the surrounding residential basin of Moerewa, being the only gas station in the city. The closest competitor is in Kawakawa, several kilometers to the east.

“Located about 60 kilometers northwest of Whangarei, Moerewa is a rural service town supported by local forestry, agriculture and meat industries. Workers at the city’s large AFFCO meat factory add significantly to the local residential basin, ”Weng said.

Chaudhary said that Moerewa’s strategic position just south of the intersection of National Roads 1 and 10 in Pakaraka, ensured that all northbound traffic goes through the city center.

“This gives the Main Road BP site direct exposure to thousands of passing vehicles. Moerewa also benefits from its proximity to the established visitor hot spots of the Bay of Islands, a 20-minute drive from Kerikeri and the Bay of Islands Airport and a similar distance from Paihia.

“Northland has experienced renewed growth and diversification of its tourism economy, supported by recent developments such as the Pou Herenga Tai – Twin Coast cycle path, which passes through Moerewa en route from Opua to the port of Hokianga.

“With a top-brand gas station tenant in place here with a long-term lease and rent growth locked in, this property will make Moerewa a center of attention for passive commercial real estate investors looking for a solid property. cash flow, ”Chaudhary said.

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