20 The Esplanade, Whitianga, Thames-Coromandel

Whitianga waterfront opportunity

This fantastic opportunity will not last long!
This substantial property offers long term investors the perfect acquisition, with the ability to reside in the spacious apartment upstairs whilst earning an income from the lease of the cafe/restaurant below.
The ground level is currently leased, operating as a cafe/restaurant. This space includes a large commercial kitchen, bar, wood fired pizza oven, plus indoor and alfresco dining spaces - a popular choice of dining with views to impress. Two street frontages and arguably the best site in town.
The upper level with unobstructed views over Mercury Bay has a separate entrance - three large double bedrooms plus office, two bathrooms, modern kitchen with scullery and spacious open plan living with high raking ceilings leading out to a supersized sun-soaked deck where you will love to sit and watch the beautiful bay before you.
Whitianga is a popular destination for holiday makers flocking to the area all year round. Don't miss out on this great opportunity.
Property Details
Land Area868sqm (more or less)
Floor Area - Upper Level228sqm apartment and 42sqm deck = 270sqm total (more or less)
Floor Area - Lower Level240sqm (more or less)
ZoningWaterfront
Tenancy Details:
Name of TenantKufe Co Limited
Term of LeaseOne (1) year
Commencement Date1st August 2020
Review Date1st day of August 2021, 2023, 2025, 2027 and 2029
Rights of Renewal Five (5) rights of renewal of two (2) years each
Net Rental $45,000 plus GST and outgoings
Full tenancy details are available on request
The property is for sale plus GST if any.
Auction: (unless sold prior) 11am, Thu 27 May 2021, 96 Ulster Street, Hamilton