Prime Position, Great Tenants
Situated in a prime location along the main street of Wairoa, in Northern Hawkes Bay, the Gemmells building housed a mini department store for 40 years, with Canton Takeaways, also in the same building, tenanting next door for the last 20 years. Canton hold a long lease, and once the Gemmells decided it was time to retire, new tenants moved in next door to Canton, also happy to sign up for a long lease. The building has been well maintained, with the rear extension and a full re-roof completed in more recent years.
There is excellent rear access and parking for both businesses - the building has five reserved car parks to the rear and there is plenty of public parking to the rear and front of the building .
Nearby businesses include Westpac Bank, Chards Hairdressing, Richies Superette, Richies Cafe, the Laundromat, as well as Take Note and Hammer Hardware.
This high traffic, high profile building should be a investment with a rate of return of 8.79%, at a purchase price of $230,000. The current leases return $26,160 plus GST per annum.
Preliminary Building Reports have been completed.
Current District Rates are $8439.00 payable by the tenants
Rating Valuation is $230,000 as at 2015.