A 1056sqm commercial property at the corner of Queen and Baxter Streets in Warkworth has been sold.
The new owners are Darc Investments, owned by the Wafer Family Trust, of Auckland.
The site includes the Warehouse Stationery, which has a six year lease, and two small retail outlets.
New owner David Wafer says that while the trust already owns investment properties in Wairau Valley and Orewa, this is its first investment in Warkworth.
Warkworth’s future as a satellite town of Auckland and the limited retail space in the CBD were two factors in clinching the sale.
“We’re keen to invest in a town that is moving ahead,” Mr Wafer says. “We also think that the retirement village across the road will have a positive impact on the town.”
While he is planning some remedial work on the buildings in the short-term, the existing leases will govern any future plans. The site’s proximity to the river will be considered as part of those plans.
“We are keen to support the town and have already had talks with the One Warkworth Business Association.”
Barfoot & Thompson Commercial sold the freehold property with a fee simple title at auction. When it was put on the market, it was expected to sell for in excess of $3.5 million.