Passive Investment Property

Not only is this extremely well located, 30-acre property a brilliant horse set up, but it also brings in an approximately $209,000.00 gross income (7% return) for the current absentee owner. Not operating at its full capacity with plenty of opportunity to add value. Situated within12 ks from Palmerston North and easy commute to Feilding Ohakea and Whanganui. This exciting opportunity will not only cater for the horse loving family, but will suit investors. No water issues here with 12 X 25,000 + litres water tanks and bore water to the farm troughs. The many superb features are a horse owners dream. Included is a horse walker, round breaking in pen, 16 covered tie up's, washdown area, rug room. The main block consists of 6 tie ups with 6 stables, wash down area, welcoming office, staff kitchen, shower and two toilets, feed room, tack room and above is a very comfortable 3 bedroom apartment with expansive views of the property. Two horse arenas are well located to this main block making everything flow smoothly. 29 paddocks plus 36 yards. A gorgeous modern home, with 3 bedrooms, master with an ensuite in a private setting compliments this property. A saddlery operates above the third modern, building. This could be changed back to a 5 bedroom home with internal access and three car garaging. A 2-bedroom stand-alone house at the rear of the property, is a bonus. Not currently promoted are 8 plug in camping sites with an ablution block including two separate disabled toilets and showers, a kitchen and laundry. Wonderful large sheds that would accommodate a couple of horse trucks or camper van. Many other excellent features too many to list. This property provides facilities for popular horse clinics. Been so close to Palmerston North it is a perfect property for the passionate horse owner to pop out in the lunch hour to take a cover off etc. or a horse racing venture. Do not delay putting this property on your list as it could lend itself to other enterprises. Perhaps calf raising or landbank and reap the benefits from the passive income, as current excellent tenants in all four houses and manager happy to stay on.