Identifying Potential
Working on behalf of investors, Scarborough Group identified the site at 278 Hilton Highway, Timaru, as a significant opportunity for development as a potential fuel station. Positioned with high visibility on State Highway 1, the site was acquired as a non-optimised parcel of land. To unlock its full value, strategic enhancements were required, aiming to transform this circa 5,000 sqm site into a viable investment asset.
Transformative Actions
Scarborough Group executed a comprehensive development strategy that included successfully obtaining resource consent, subdividing the land, and securing Waitomo Fuel as a long-term tenant on a 10-year lease. These efforts added substantial value to the property, positioning it for optimal investment return. By subdividing the property, we extracted maximum value, resulting in the service station and the vacant land now being two separate titles.
Success Story
The strategic enhancements resulted in significant value creation for the investors. The successful acquisition of Waitomo as a reliable tenant, coupled with the additional 3,434 sqm of vacant land now available for development, has greatly enhanced the overall investment. Scarborough Group’s expertise in identifying high-potential sites and executing strategic improvements has positioned the fuel station site for sale, representing an outstanding opportunity for future investment in the heart of Timaru.