Two adjoining tenanted shops in the centre of a rural town’s bustling heritage precinct have been placed on the market for sale.

The shops – which are held under three combined land titles – are situated in the Pollen Street retail hub of Thames on the Coromandel Peninsula, and are currently occupied by a popular café/catering company, and a cut-price budget household supplies shop.

The central business district Pollen Street area of Thames, known as the Shortland Heritage Area, contains some of the town’s most historic buildings. For example, the building at 574 Pollen St is named Danbys – after one of the town’s first retail outlets originally setting up as a pharmacy in 1869.

Historic files from Thames Coromandel District Council’s heritage report note that: “Pollen Street’s commercial buildings achieve a collective architectural significance given their general consistency of height, construction to the front of the lot and provision of a veranda. Although no building exceeds two storeys within the Heritage Area, some of the commercial buildings have large parapets above the first floor, which gives them greater prominence within the streetscape.’’

Exemplifying the heritage architectural styles identified in the Thames Coromandel District Council report, the land at buildings with 574-578 Pollen Street in Thames are home to Food for Thought café and catering business in a single storey rectangular-shaped premises, and the Gift Today budget gifts and nick-nacks outlet in a two-storey rectangular shaped premises.

The freehold commercially-zoned land and terraced 440-square metres of buildings at 574-578 Pollen Street in Thames are now being marketed for sale at auction on July 10 through Bayleys Coromandel. Salesperson Josh Smith said the dual tenancies benefitted from their location within the town’s busiest street – underpinned by substantial road parking on Pollen Street for customer convenience.

“This fabulously located property and its two split tenancies within the heart of Thames’ central business district see them situated amongst a plethora of locally focussed retail outlets and professional services offices which underpin solid patronage volumes of both vehicle and foot traffic,” Smith said.

‘’The building at 578 Pollen Street has a low new building standards rating, and as such there is the potential for a new owner to undertake refurbishment and strengthening work on the premises to bring it up to a higher level. This will have the obvious benefit of adding considerable value to the property.’’

The two tenancies within the properties at 574-578 Pollen Street generate a combined annual rental income of $53,325 plus GST and operating expenses. Food for Thought is on a lease expiring in 2038 including two four-year rights of renewal, paying annual rent of $29,700 plus GST and operating expenses. Mewnahile Gift Today is on a lease with a final expiry in 2040 including three four-year rights of renewal, paying annual rent of $23,625 plus GST and operating expenses.

Nationally-branded retailers along free-flowing Pollen Street include homeware outlet Noel Leeming, building supply store Mitre 10, furniture and homewares store Farmers, supermarket Four Square, telecommunications service provider Spark, banks, several real estate agencies, along with multiple stand-alone food outlets and car yards.

As the town’s retail hub, Thames Coromandel District Council has identified Pollen Street for millions of dollars of renovations and upgrades to improve stormwater, wastewater, and general water pipelines.

More than $5million has been set aside in Thames Coromandel District Council accounts for the planning, design, pipe laying, and roading reinstatement project to be undertaken in stages over coming years. The staged works programme will ensure Pollen Street’s infrastructure keeps the locale’s appeal at the forefront of the town’s greater retail destination.

‘’Pollen Street sustains virtually everything Thames locals need in one street. From a long term-perspective, it’s highly encouraging to see that Thames Coromandel District Council readily acknowledges Pollen Street to be the centre of economic and social activity in Thames, and has committed funds to ensuring the road’s appeal and relevance to the wider community,” Smith said.

‘’That confidence in the area can of course be taken on board by any new owner of the land and buildings at 574-578 Pollen Street who may at some stage look at undertaking any structural enhancement or improvements to the premises,’’ he added.