202 The Strand, Whakatane, Whakatane

Income you can bank on!

- Impressive commercial office complex
- Multi tenanted / secure split risk asset
- Anchor national tenant ASB Bank
- B Grade / 67% NBS Seismic Rating
- High profile landmark CBD corner site
- Leasehold land with perpetual renewals
- Current annual net rental $133,000 + GST (circa)

Location is the key to this strategic commercial leasehold site which occupies a premium position on The Strand in the heart of the Whakatane CBD and provides a superb opportunity to secure an excellent provincial income earner.

The property is fully leased with a strong mix of six national and local tenants on various lease terms that includes ASB Bank and Bayleys Real Estate and is returning very attractive annual cash flow.

This 573sqm two level commercial building has a B Grade Seismic Rating and is extremely well presented. The land is leased from the Whakatane District Council for a term of 14 years with perpetual rights of renewal of 14 years each.

The property has been in the same family ownership for the past 65 years providing a solid passive investment that has become a landmark property in downtown Whakatane with ASB currently having exclusive naming rights.

Commercial opportunities of this calibre are scarce in the Whakatane market and this must command serious attention from astute investors looking to add a trophy property to their portfolio with the bonus of a generous leasehold yield!