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JOINT SOLE AGENCY
Colliers and Bayleys Commercial are pleased to present, via joint sole agency, this historic and income-generating property.
This iconic building — originally one of New Zealand's oldest standing hotels — is now leased to Silver Fern Farms Limited as workers' accommodation, providing a dependable and lucrative income stream, making this property an appealing prospect for investors seeking strong returns.
The site has a freehold land area of approximately 2,464m² and is leased to Silver Fern Farms Limited for a term of 10 years starting from January 20, 2023.Returning gross rental income of $378,560 p.a. + GST and a net rental income of $311,269 p.a. + GST. The investment is highlighted by its historic character, being a former hotel with a unique story, and its secure tenant, Silver Fern Farms, known for long-term lease stability. Additionally, the property offers strong returns with an anticipated yield reflective of its rural location and growth potential through CPI-linked reviews every three years.
Features:
* Freehold site totalling 2.464m² (more or less)
* 852m² Net lettable area
* 10-year lease term from January 2023
* Returning $311,269 net p.a. + GST
* Leased to Silver Fern Farms Limited
* Historic character