Take advantage of the outstanding potential of this decorative era building, which has a well-established Bar, Lounge and Restaurant on the entry level with an upstairs function venue. With a strong lease in place, it promises secure rental returns. This property is well maintained and offers excellent scope to update and add further value in future. Located on a busy retail strip, it enjoys a central setting, a short walk from the waterfront and public transport. Ground lease to Whakatane District Council on 14-year perpetual rights of renewal.
Whakatane has been experiencing excellent growth with investment and development in the district, 84 The Strand is a fantastic opportunity for first time investors or to add to an existing portfolio. Offered to the market with absolute commitment by our motivated vendor.
- Ground floor Bar, Lounge and Restaurant set across 254sqm (more or less) with generous open plan seating area
- Polished timber floorboards, high ceilings, full length shopfront windows
- Commercial kitchen, large lower-level storage area and cool room (owned by tenant)
- Upper level presents a function venue set across 130sqm (more or less)
- Rear lane access with plentiful parking
- Net rental $75,000 +GST and outgoings per annum
With close to a nil return on your money in the bank, this is a great opportunity to put that cash to work!
Location:
Few regions in New Zealand or the world for that matter have as much to offer as the Bay of Plenty. From the gentle harbour waters to its surf beaches, its fishing and diving grounds to the scenic bush, the Bay is as much a quiet recreational playground as it is a thriving business and rural community. Key economic elements for the region include Tourism, Horticulture (predominately Kiwifruit and Avocado production), Viticulture, Pastoral farming, Forestry, Housing and Holiday Makers. The rapid growth in the area provides a vibrant living environment from job opportunities to business prospects with a sustainable future.
