New Zealand Self-Storage Facility on Auction Block Unless Private Buyer Found

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Kawerau Secure Storage, the only self-storage facility in Kawerau, New Zealand, will be auctioned on March 6 unless a private buyer can be secured beforehand, according to Bayleys Real Estate, a firm offering real estate marketing, sale and valuation services. The self-storage location has 102 units and has been operated by owners Carol and Colin Reid since 2005.

“The current owners have an established trading history and, based on demand and inquiry, believe there is still scope for further growth and expansion with a captive local market to capitalize on,” said Brendon Bradley, a commercial real estate agent at Bayleys.

The facility had an occupancy rate of about 61 percent through February and offers 16 different unit sizes. Unit storage income is supplemented by external vehicle storage, container storage and a leased office space. The site consists of two storage buildings on a lot comprising 4,697 square meters, giving the facility room for future expansion, Bradley said.

The property is fenced and features alarmed security gates, 16 surveillance cameras and sensor lighting. Customers have unrestricted, 24-hour access via an electronic, swipe-card system.

“As a freehold going concern, it offers an excellent opportunity to purchase a low-risk business generating continuous cash flow and having shown steady ongoing growth since the commencement of the business,” Bradley said.

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