- $144,800 net annual rent (with CPI + 1% annual rental growth)
Located on the corner of Coast Boulevard and Papamoa Beach Road (next to the beach), this modern high spec building is leased to Ralm Group 3 Limited, trading as The Good Home, a buying group with 13 Gastropub hospitality offerings nationwide.
The building has been purposely fitted out for the restaurant and bar (but can be repurposed for many future uses) which is complimented with a spacious outside courtyard and 14 onsite car parks.
This property is situated in a commercial zone that offers multiple permitted uses in future developments such as retail, offices, and residential accommodation.
The property currently has a very good holding income and with future CPI increases + 1% per annum (calculated biannually) showing strong rental growth. In addition, the property is at the present time under market rent compared to other local properties currently being leased. This year (2022) based on the current and projected CPI increases, the new owner will have the continued strong rental growth and then a market rent correction in 2024 which again is projected to show strong growth.
This is an excellent opportunity to secure a passive investment showing rental growth.
Contact the sole agent, Duncan today to discuss.
Ref #: 20780710
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