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The property consists of a larger 1.1440 hectare Business Neighborhood Center zoned land situated in the heart of Parakai in North West Auckland. The property is held in three separate titles.
Development on the property includes a diverse range of buildings including a restaurant/bar, wholesale liquor outlet, thermal complex, retail premises, accommodation building of 13 Flats, 9 cabins, 3 Caravans with Gross rental income over $300K per annum.
The property also has an Auckland Council water permit (No 9012) for the daily abstraction of 95 cubic metres of thermal water.
The property is forming part of the Parakai township, Parakai is a township developed primarily around its hot mineral springs/water supply.
The property has huge upside value with water rights and bottling plants, plus availability of land for further development, great cash flow income for holding.