Shop Front Licence/2 Marine Parade, Mt Maunganui, Tauranga & Surrounds

Hands-off Mount Maunganui investment

• A unique and affordable chance to secure a street-front terrace licence
• Occupied by some of Mount Maunganui's best beachside eateries and bars
• Superb investment opportunity in a highly sought-after coastal location

On offer is the shop frontage licence over a covered tile paved terrace area at the base of Tower One of the Oceanside Resort and Twin Towers complex - a recently fully refurbished landmark building positioned at the corner of Marine Parade and Adams Avenue at the northern end of the Mount Maunganui peninsula. Together with six ground-level shops, Tower One contains 10 levels of apartments plus basement car parking.

Sub-licences of approximately 28 to 30 square metres each have been granted to business owners of five of the six shops for terrace areas at the front of each unit, with a total occupied area of some 172 square metres. Each sub-licence generates annual net rental returns of between $6,860 and $10,200 plus GST, with built-in fee reviews every two years.

The covered terraces provide al-fresco seating and hospitality areas enjoyed by patrons of Deckchair Beachfront Café (occupying two shops), Sundowner Beachfront Bar and the Daily Dose Café and Bar, along with ice-cream store Monte Gelato. The popularity of these establishments is driven by their pivotal location at the base of iconic Mauao/Mount Maunganui and overlooking the internationally renowned Mount surf beach.

This is the ultimate hands-off investment where you simply clip the ticket from a captive market!

Asking Price $795,000 plus GST (if any).