746 Great King Street, North Dunedin, Dunedin

OASIS IN NORTH DUNEDIN

This is a seldom available offering. Modern property with a long term commercial lease in the heart of the university precinct.
The business operator of The Baaa has traded very successfully for the past ten years. It is a popular hospitality venue for students and travellers alike. The Baaa Sports Bar and Grill offers a pleasant environment for entertainment. The sports theme provides an ambience for the premises with sporting memorabilia, large screen televisions streaming sport, a TAB and a gaming room. This all sits well with the first class pub food available and the appealing bar arrangement. The recipe is obviously on the mark for the target market.
Hospitality venues in the university precinct are a valuable commodity. The existing use rights that The Baaa enjoy allow this alcohol related business to continue in a market where new entrants are actively discouraged by the University and the DCC. Very comforting for a property owner.
Located on the corner of Great King and Howe Streets the property is central in the commercially zoned Neighbourhood Convenience Centre as per the 2GP. It is on State Highway 1 which has very high traffic movements. It is also central to the student residential area and Dunedin's main motel precinct of George Street.
Many motels operate a charge back system with The Baaa for the guests.
The new ten year lease with renewals is an expression of confidence by the landlord and tenant as to the suitability of the property and its current use.
The building is well configured for the bar operation. It is light and airy with an attractive fit out. There is a rear entry off Howe Street providing for convenient back of the house operations. There is an office and a staff amenity area upstairs.
This all represents an appealing investment in a popular area.