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Property Ref: 4305
Oamaru’s Landmark Building Now For Sale
Property Type: Commercial Real Estate, Development Opportunities, Hotels
Sale Type: Investment (on Leasehold Land)
Physical Address: 1 Tyne Street, South Hill, OAMARU 9400
Price: Price on Application over $1.6M
Broker: Peter GaleMobile: +64 21 608 107
Occupying a prominent position in the vibrant tourism precinct adjacent to the sheltered Oamaru Harbour is this irreplaceable showcase building known as ‘The Woolstore Complex’.
Key features include:
- One of the only significant quality buildings in the area that is still in private ownership
- Stunningly ‘restored’ and maintained; and with a high earthquake rating of 80% NBS (New Building Standard)
- Occupies a strategic position bordered by the popular harbour-side train on one side and Oamaru’s famous first street on another
- Parts of the original Woolstore remain – such as the working belt-conveyor – providing a captivating link to the history of the building and the area
- The floor plate of approx. 2,370m2 (approx. 23,700 sq. ft. or 11,850 sq. ft. per level) and multiple entrances provide ample scope for a quality fit-out, with the many possibilities including accommodation, prime retail, office or a combination of those
- The Leasehold land has what are effectively ‘perpetual’ rights of renewal – a cost-effective security of tenure
The Woolstore Complex is now for sale by the current owners of over 20 years at a fraction of replacement cost.
PLEASE NOTE: It is the building only for sale | The existing businesses and leasehold land are excluded.
- Oamaru started its existence in the mid-1800s as one of a few large sheep farms in North Otago. The natural harbour was recognised and a breakwater built to facilitate trade. Buildings sprung up – banks, grain stores, post offices and a court house – built with a type of limestone called Oamaru stone because it is sourced locally and used all over the country. As a result Oamaru has a fantastic collection of older buildings largely concentrated in a precinct by the harbour.
- It is the finishing point of the ‘Alps 2 Ocean Trail‘ which is currently the longest bike trail in New Zealand and has arguably the most variety of scenery. The official start is near Aoraki Mt Cook Village, at 700m above sea level in the midst of the snow capped Southern Alps. You fly in by helicopter, ride around glacial and hydro lakes, down through the Waitaki Valley and finish at sea level at Oamaru by the Pacific Ocean.
- Visitors also come to view the nightly return to shore of little blue penguins. The colony is now run by the District Council as a commercial activity and research facility, offering an opportunity to view the penguins in their natural habitat.
- The town is also the gateway to the Waitaki Valley, a stunning natural area bisected by the braided Waitaki River, whose hydroelectic dams have created numerous lakes for water sports and recreation. The Waitaki Valley is home to New Zealand’s newest wine appellation, where a number of vineyards are producing Pinot Noir, Pinot Gris, Riesling and other varietals that are winning international awards.
Today Oamaru is a popular and growing tourism spot with stunning Victorian architecture, wildlife and exceptional restaurants.
Full Listing Information for this Tourism Business will be disclosed to registered, approved Potential Purchasers.
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Detailed Seismic Assessment (Dec 2018)
DRAFT Plans (as a general guide)
Ground Lease docs
Ground rent & rates invoices
Waitaki District Council info/feedback
Zoning rules - Business zone
Zoning rules - Heritage
Lease to Cafe
Article in STUFF March 2020
Property TypeCommercial Real Estate