Land area breakdown - 1,877sqm (more or less)
Floor area details - Retail 640.33sqm / Office 402.95sqm (areas approximate)
Occupancy - Six retail tenancies and one office tenancy
Location - High profile location
Zoning - Commercial
Annual net income - $434,318 + GST & OPEX
Parking - 42 onsite carparks
Seismic (NBS rating) - A Grade 80-100% NBS (IEP 2013)
When looking for an investment that is going to be the jewel in the crown of your investment portfolio, look no further. This location is paramount for a unique and exclusive investment opportunity set in the heart of the vibrant and highly successful Mount retail strip.
Situated within a short stroll to the iconic ocean beach, the peaceful Pilot Bay, and the Mount wharf, where cruise ships dock almost every day over the summer, this property offers a prime location. It provides strong rental income from six ground floor retail tenants and one office tenant on the first floor.
The retail tenants include a mix of local, national, and two international businesses, catering to both local residents and the significant number of national and international tourists that visit this beautiful beachside location. The first-floor office is home to Platinum Homes’ national head office.
This site also offers the future potential for a multi-story building with a combination of ground floor retail/service spaces, first-floor offices and/or multi-story apartments. The new owners could explore the potential of utilising the large rear carpark’s airspace, keeping the existing building while developing apartments or offices above the carpark area.
197 Maunganui Road will exceed your expectations. Mount Maunganui’s boutique retail and hospitality heart awaits.