Te Puke tyre repair hub for sale
The land and buildings housing the Bridgestone operation at 2 Belvedere St, Te Puke, are for sale. Photo / Supplied
The land and buildings housing a branch of one of New Zealand’s leading tyre retailing and fitting businesses is on the market.
The corner property at 2 Belvedere St in the Bay of Plenty township of Te Puke is now leased to tyre retailer and fitting company Bridgestone NZ.
This company was founded in 1998 following the merger of the Bridgestone and Firestone tyre companies. It produced the first tyres in New Zealand, and is now the only tyre manufacturer in New Zealand.
Bridgestone branches nationwide – including the Te Puke operation — are responsible for automotive servicing and issuing warrants of fitness, wheel aligning, wheel balancing, puncture repairs, and selling tyres for private, commercial, and heavy grade vehicles.
The Belvedere St lease to Bridgestone in Te Puke runs through until 2018, with two further six-year rights of renewal. The lease generates an annual return of $36,300 net.
The 809sq m freehold property and 322sq m building are being marketed for sale by private treaty through Bayleys Tauranga. The property features in Bayleys latest Total Property portfolio magazine.
Bayleys Tauranga salesperson Brendon Bradley said the property had a high-profile frontage onto Jellicoe Street, one of the town’s busiest routes.
He says the single-storey rectangular shaped building comprised multiple service bays where vehicles had their tyres removed, repaired or replaced, a large storage room, staff cafeteria and toilets, and administrative offices.
Bradley says it was the first time in about 20 years the property had come up for sale, and he expected investors will be attracted due to the strong reputation of the tenant, and the property’s prime corner location fronting onto a busy road.