- A unique opportunity to secure a shop-front terrace licence area
- Occupied by some of the Mount's best beachside eateries and bars
- Iconic waterfront location at the base of Mount Maunganui (Mauao)
- Impressive investment in a highly sought-after coastal location
- Split risk investment returning a net annual rental of $54,415 + GST
- Affordable purchase priced to sell at a 7% yield/return on investment
On offer is the Shop Frontage Licence in respect of the covered tiled paved terrace area for the six retail units situated at the base of Tower One of the Oceanside Resort and Twin Towers complex. This recently fully refurbished landmark building positioned at the northern end of the Mount Maunganui peninsula also includes 10 levels of apartments plus basement car parking.
Sub-licences of approximately 28 to 30 square metres each have been granted to business owners of the six retail units for the terrace areas at the front of each premises, comprising a total area of some 172 square metres. The sub-licence agreements extend for the term of each individual business lease with licence fee reviews due every two years from the commencement dates.
The covered terraces provide al-fresco seating and hospitality areas for Pluto, Monte Gelato, Beach Hut Cafe (occupying two units), Lital Cafe and the Daily Dose Cafe and Bar. The popularity of these establishments is driven by their pivotal location at the base of iconic Mauao/Mount Maunganui and overlooking the internationally renowned Mount surf beach.
Priced to return an attractive 7% yield, this high profile low-risk investment is sure to provide you with a stable income from a captive market for many years to come!
For more information, contact the sole listing agents, Team Bradley today.
