Property Overview:
• Government tenant in occupation for 17 years / 30 year lease for nationwide company
• Two lot subdivision approved / Services completed
• Low risk mixed tenancy/ Current combined net income $165,000 pa plus GST and OPEX.
Features:
1/ SHW 1 with 19.7m of road frontage - Liquid Laundromat - returning 6.76% pa, with a 30 year lease
2/ Upstairs 2 bed apartment (100 sqm +) sea and mountain views, consistently let since 2008
3/ Downstairs 4 unit accommodation with all mod cons fully furnished returning $52k per annum plus costs
4/ Rear property Ministry of Primary Industries, refurbished offices and separate entrance - returning 5.33% pa.
5/ Commercial dive pool (under construction)
6/ Property Manager available at competitive rates
7/ Terms available (potential for late settlement)
This is a great opportunity to secure one or two multi tenanted properties with an significant upside, with Kaikoura’s one and only dive pool being constructed, increasing the yield.
