Solid Tenants in Place

Wairoa is a provincial town in northern Hawkes Bay. The town is getting lots of investor attention at the moment, touted to be a small town to watch, with rising rents, increasing property values and a steady influx of out of town buyers relocating to the area for the affordable real estate and the pleasant climate. Geographically, the district boasts the pristine fresh waters of Lake Waikaremoana, and the spectacular Mahia Peninsula, an aquatic paradise, and also home to Launch Complex 1, the worlds only private orbital launch range.

The news of potential industrial and commercial ventures suggest that there will be increased employment in the area, which correlates to a healthier local economy. As the town grows, and more people relocate to the area from out of town, we are new businesses spring up and an increase in the population.

100 Marine Parade is a 500 square metre commercial building situated in a prime location along the main street of Wairoa. Previously Gemmels, a busy family owned department store for 40 years, the building now has two happy tenants in place.

The busy Canton Takeaways has been operating out of the site for around 22 years, and Angela has no intention of hanging up her apron any time soon. A locally owned retail business operates in the larger part of the building, now in its fifth year of operation. There is dedicated parking to the rear of the building, and public parking to the rear and front of the building. The river runs along Marine Parade, and it's a gorgeous view out over the river and reserve. Nearby businesses attract plenty of custom and foot traffic.

With an annual return of $26,160 (excluding), the figures stack up well. Tenants pay all outgoings.

Call Kimberley on 027 355 4464 to discuss.

Plus GST (if any).