A prominent mixed-use property on Kaikōura’s main arterial route is heading to mortgagee auction next month and must sell unconditionally on the day.
Located at 114 Beach Road, the fully tenanted investment is being offered by Colliers Christchurch through a mortgagee auction on 2 April at 10am, held at the Colliers auction room in Christchurch.
With a current passing income of approximately $149,000 per annum, a buyer can secure an income-producing asset in one of the South Island’s most popular tourist destinations, says Investment Sales Broker Michael Lough.
“This is a genuine mortgagee sale. Whoever bids highest on the day walks away with the keys and that’s a compelling proposition for buyers who’ve been waiting for an attractive opportunity in Kaikōura,” he says.
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The 1,437sq m freehold site carries commercial mixed-use zoning, permitting a broad spectrum of development possibilities spanning retail, hospitality, accommodation, and residential apartments.
Current tenants include a Liquid Laundromat retail operation at the front, a rear villa configured as office space leased to the Ministry for Primary Industries, and a mix of residential tenancies occupying a refurbished four-bedroom residential dwelling and a self-contained two-bedroom unit.
“An investor could hold it as-is and enjoy strong returns or look at future development pathways. The site also has subdivision potential, subject to council approval,” Lough says.
The Beach Road location benefits from high traffic volumes and 19m of street frontage, giving occupants strong visibility in Kaikōura’s core commercial precinct.
With the sea and mountains attracting visitors, the broader Kaikōura economy provides a compelling backdrop.
Tourism contributes nearly a quarter of the district’s total economic output, generating more than $57 million annually, with visitor numbers recovering strongly in recent years.
While the district’s permanent population sits at around 4,200, its infrastructure is built to support up to 10,000 people at peak times.
Kaikōura District Council projects annual growth of 1.5 per cent in coming years, underpinned by significant post-earthquake infrastructure investment including the $13.4 million hospital and ongoing community projects such as the Aquatic Centre.
“An asset like this doesn’t come up often – and it certainly doesn’t come up with a must-sell condition attached,” Lough says.
- Supplied by Colliers
