Ngatea
21 River Road, Ngatea, Hauraki
Auction
(unless sold prior)
A hidden gem
ā¢Multi tenanted, split risk
ā¢Returning circa $65,000+GST/OPEX
ā¢Above 33% IEP
ā¢Potential upside to leases
Once the site of the iconic and well-known Wilderness Gems in Ngatea, 21 River road has undergone significant changes throughout its history from its early beginnings as a dairy and butter factory, a stint as a precious stones and gems treasure trove to the low risk multi tenanted investment it is today.
The substantial 1,400sqm (more or less) building is home to an array of tenants, anchored by national icons St Johns and New Zealand Post and supported by an additional three commercial tenants with a residential tenancy at the rear returning a combined circa $65,000+GST/OPEX.
Set on one of the largest commercially zoned land packages in the central Hauraki town of Ngatea, the 4,384sqm (more or less) holding provides ample on-site parking for the multiple tenancies as well as offering potential for a range of future options.
