428 Main North Road, Bay View, Napier

Triple treat

• Three income streams - two commercial and one residential
• Waitomo Fuel provide 60% of rent on long-term lease
• Profile site on busy State Highway 2
• Modern high specification pump and tank infrastructure
This property is located in a strategic position just north of Napier in proximity to Hawke's Bay Airport and the State highway 2 turn-off to Taupo. It is ideally placed to take advantage of the significant government-funded roading recovery programme, mainly focused north of Napier.
Principal tenant Waitomo Fuel has a 25-year lease term (including renewals) and favorable CPI and market rent reviews.
In addition there is an industrial workshop and four-bedroom dwelling which have potential rental upside. The property can be purchased purely as an investment or could provide a home and income.
All the pump and fuel infrastructure has been installed by the tenant at significant expense and a large portion of the land has been improved with concrete hard stand.