3 Hillcrest Street, Tirau, South Waikato

Secure Passive Income & Growth

3 Hillcrest is a contemporary, low maintenance property built to modern standards. A tenanted retail investment with some vacancy for upside potential, located in the attractive Tirau Town Centre. Representing a 7% return.

Tirau Town Centre Zone is intended to maintain Tirau main street as a high-quality boutique retail centre, catering for both destination shopping and the needs of passing travelers. Some core commercial services are also provided to meet the needs of residents. The zone intends to retain the existing attributes of Tirau to ensure it remains a pleasant place for people to stop and wander from shop to shop.

These attributes are based on a streetscape consisting of mainly small single-storey shops (rather than nationwide corporate chains), a range of boutique retail stores presenting an attractive built form to the street, with space and scope for entertainment and street activities along the paved and grassed frontages of the main thoroughfare. The distinctive corrugated iron signage, the unusual buildings, and the quality of retail premises are important parts of the success of Tirau as a boutique retail centre. Activities on the side streets support and complement those on Tiraus Main Street, with activities such as craftperson studios and visitor accommodation. Tirau is well known for the Sheep and Dog buildings centred on the Main Road.

The main street of Tirau is also State Highway 1 and performs a key role in the transportation network of the district and wider region. To recognise this, some specific provisions dealing with car parking and vehicle access have been formulated for the zone, to ensure that a vibrant town centre can successfully co-exist with the need to ensure a safe and efficient state highway

Net Income $52,000 pa + GST & Outgoings

Floor area of 440sqm (approximately)
Land area of 801sqm (more or less)