A premium-grade commercial building housing Matamata's branch of a national dental services provider and a stylish hairdressing salon has been placed on the market for sale.
The well-presented 154-square metre site is located at 45 Arawa St in the heart of the Waikato town and comprises a two-storey premises occupied at street level by oral healthcare provider Denture Link, with hair salon Habit Hair Studio occupying the upper level.
The property also contains a small apartment.
Denture Link’s immaculate air-conditioned space within the Arawa Street building includes a comfortable open-plan reception area servicing a private client treatment room, along with a staff lunchroom and bathroom amenities.
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Habit Hair Salon’s presence within the 350-square metre building features a stylish high-stud New York inspired clean lined open-plan space with large wall-to-wall windows overlooking tree-lined Arawa Street.
Arawa Street runs perpendicular off Matamata’s main retail strip, Broadway, which hosts scores of food and beverage outlets, healthcare providers, professional services companies, and household goods and services shops.
Arawa Street has always maintained a consistently high occupancy rate for commercial tenancies along its wide cobbled pavements.
The rectangular-shaped freehold commercially zoned land and tenanted building at 49 Arawa Street in Matamata are now being offered for sale at auction on April 16 through Bayleys Hamilton.
Salesperson Josh Smith said it was rare to find town centre premises which offered both commercial and residential revenue components.
“This compact property represents an approachable scale of commercial real estate ownership, with the residential component of the address bringing in an added level of rental income diversity for balanced cashflow,” Smith said.
“The comfortable apartment can either be let on fixed tenancy terms, utilised by the owner as a town centre base, or run on an Air BnB modelled short-term letting arrangement, capitalising on Matamata’s tourist reputation of being the closest town to Hobbiton.”
Denture Link is on a current lease three-year lease with one further three-year right of renewal, while Habit Hair Studio is on a current two-year lease with two further two-year rights of renewal.
“Within the heart of Matamata’s central business district, Arawa Street offers ample availability of parking, little traffic congestion, and the convenience for local residents to park and do all of their shopping or personal administration requirements from one pivotal point within a few hundred metres of everything they need,” said Smith.
“There is also additional parking, mainly for staff, at the rear of the property on Hetana Street, which also has the separate access for the property’s apartment. A small storage area within the building accessed from Hetana Street is also leased out to a nearby café – thereby generating a total of four separate rental revenue streams.”
The four commercial tenancies within 45 Arawa Street generate a combined annual income of $55,000 plus GST and operating expenses.
- Supplied by Bayleys
