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The property located at 216/218 The Strand in Whakatane, New Zealand, presents a promising long-term investment opportunity. Situated in the heart of the Whakatane Central Business District, the address enjoys high volumes of vehicle and pedestrian traffic, making it an attractive location for businesses. The property features four accessible onsite car parks along the rear service lane.
Currently, the property is occupied by two tenants: Jewelz, a modern and bright jewellery store, and Art of Hair, a family-owned hair salon. Both tenants are on various lease terms. Additionally, the property has a ground lease with the Whakatane District Council, on a 14-year perpetual right of renewal.
The property offers a split-risk, multi-tenanted retail investment, providing diversification in terms of rental income. The inclusion of four onsite car parks enhances the convenience and accessibility of the property for tenants and customers alike.
The net rental income generated from the property is $39,000 + GST per annum. This steady income stream, combined with the prime location and long-term lease agreements, makes this investment opportunity highly desirable.
Whakatane is known as the sunshine capital of New Zealand and has been experiencing excellent growth, with significant investment and development in the district. This growth contributes to the overall appeal and potential of the investment.
Given the vendor's motivation to sell, this property represents an excellent opportunity for first-time investors or those looking to expand their existing investment portfolio. To secure this sought-after investment, taking advantage of the growth potential in Whakatane, acting promptly would be wise.
* Split risk multi tenanted retail investment
* Four onsite carparks
* Two long term stable tenants
* Net rental $39,000 +GST per annum