1012m2 - Shop premises plus 4 bed home
Purchase this property and the combined rental income of the bakery and the four bedroom flat could help pay your mortgage off sooner than many other investment properties. The shop sits on the street frontage of Pioneer Highway and is currently being utilised as a bakery. The bakery is currently leased with a rental income of $13,520 plus GST per annum. The shop/bakery is presented in tidy condition and consists of the bakery, the shop at the front of the building, an office, a storage room and toilet facilities. The flat at the back of the bakery features four bedrooms, ensuite, kitchen/dining, a separate lounge and a fenced rear section with a garden shed. There is work required on the flat to bring it up to a modern standard, however the flat is currently rented on a periodic tenancy for $330 per week with a great tenant in place, who would like to stay on. Viewing is strictly by appointment, for an appointment to view, please call me. Rateable Value $330,000.
To be sold by Tender. Tender closes 4.00pm Thursday 27th October 2016 at Property Brokers Office, 236 Broadway Avenue, Palmerston North.