11 Waimangaro Road, Paihia, Far North

Diverse solid investment - Bay of Islands

Located at 11 Waimangaro Road in Opua, within the Bay of Islands, this property spans two freehold titles, totalling 4,337sqm (more or less) of land. It features a spacious two-storey building covering 660sqm (approximately), encompassing a tavern, a bottle store, a two-bedroom apartment, and on-site accommodation for the manager.

The current tenant has just commenced a fresh 10-year lease, with the option for four additional five-year renewals, ensuring long-term stability for the new owner. Current income of $88,367.09pa + GST and outgoings.

Key features:
• Floor area: 660sqm (approximately)
• Land area: 4,337sqm (more or less)
• Road frontage to State Highway 11: 123m (more or less)
• Commercial Zone under the Far North District Plan
• Ample car parking

With ample room for development or repositioning due to the property's low site coverage, it offers added appeal for prospective buyers.

This property presents the potential for future development or repositioning, making it an enticing prospect for savvy investors. Explore the charm of Opua, known as the 'Gateway to the Bay of Islands', with its scenic beauty and sailing opportunities.

For more information, please do not hesitate to contact the SOLE AGENTS