•Multi-tenanted investment
•Return of $175,110 plus gst and outgoings
•Anchor tenant with a strong lease in place with multiple renewals
•Key location in the town
A smart decision and an investment in the right place is the perfect formula for reducing the risk factor and increasing the reward factor. 81-85 Arawa Street, Matamata, fits this formula to a tee. The size of the property, its down-town location and strong anchor tenant are great confidence boosters to investors looking for an easy way to build wealth.
The substantial 1,237sqm (more or less) building in the heart of town, is home to the well-known Horse and Jockey Inn. Having a tenant of this calibre on a long lease means income from day one. Then there’s the added security of three smaller supporting tenants and peace of mind that comes from a property that has been refurbished to a high standard.
Aesthetics of schist stone and large shop-front windows provide natural appeal and appointments, including 16-room accommodation, a tenant’s apartment, a full commercial kitchen, a garden bar, and a newly fitted-out gaming lounge add substance. The bar and restaurant, plus income from the 16 rooms and the modern, upmarket gaming lounge, reward the anchor tenant generously.
Matamata is famous for its association with the Hobbiton Movie Set, which draws domestic and international visitors in droves and is one of the town’s key economic drivers. The town has strong connection to the horse racing industry and a wealth of outstanding visitor attractions.
The property is being sold by Deadline Private Treaty (unless sold prior) closing on the 6th June 2024 at 4pm.