Te Awamutu storage business for sale
The storage business at 61 Bruce Berquist Drive, Te Awamutu, is a low-maintenance property. Photo / Supplied
A long-standing Waikato storage business and the land and buildings it occupies have been placed on the market for sale.
The 4732m2 site at 61 Bruce Berquist Drive, Te Awamutu generates annual net rent of $192,000 plus GST and offers potential buyers the chance to invest in an in-demand asset class.
The property is being marketed for sale by Bayleys' Hamilton sales agent Andrew Shaw and will be auctioned on June 29.
It houses 132 self-storage units covering 1520m2, which are leased to more than 100 tenants.
Shaw says it’s a low-risk property investment in an industrial zoned area.
"The storage business, Te Awamutu Self Storage, has consistently shown high occupancy rates and returns, and there are on-site opportunities for a new owner to grow the income further. The business requires minimal time to run and the property is low-maintenance."
Te Awamutu Self Storage offers eight sizes of storage facilities and can house everything from documents and furniture to cars and boats.
The property is securely enclosed by an electric perimeter fence and has 24-hour swipe card access.
Shaw says the area has experienced significant residential growth, which will only serve to widen the business's customer base.
Population increases are driving growth in the storage industry in general, with residential customers typically comprising around 75 per cent users at any location.