243 Waipapa Road, Kerikeri, Far North

Good tenant and high returns

This property has now sold. Welcome to an exceptional tenanted investment opportunity in Kerikeri, in the stunning Bay of Islands. Stacked with many features, this manageable property is just under 5km from Kerikeri Township and captures a healthy rental income of $61,500, per annum. The tenant in place is a professional chef training school with courses booked well into 2018. The lease terms are favourable too, showing long term occupancy and peace of mind for a landlord. The current lease commenced in April 2017, it has two rights of renewal for three years each with a final expiry of April 2026.

It's no secret that tourism and hospitality are the hotbeds of Kerikeri. The region is well respected for its wide variety of produce and fresh seafood. A secure tenant, running an established business within a growth industry, certainly adds to the buying appeal.

Land and location are a further tick in the box, with 5,012sqm of prime Kerikeri land on sought-after Waipapa Road. Surrounding shops, businesses are all within easy reach. There is onsite parking for up to 100 vehicles, and mature landscaping gives the property a picturesque quality. The main building has embraced a cooking school environment perfectly - with all kitchen equipment and associated chattels belonging to the tenant.

At 400sqm the well-maintained building feels considerably larger due to its central, covered in courtyard. There is a generous sized conference room, reception area, staffroom, his/her bathroom facilities, plus a separate office.

For the full information pack and to view this exciting commercial holding, give David a call today.