389 and 391 High Street, Dannevirke, Tararua

Provincial gem - lease until 2044

• $156,521 + GST net annual rental plus 100% outgoings
• 2019 lease with rights of renewal to 2044
• 70% NBS rating
• Quality tenants
• Long standing provincial business and landmark

This landmark property which accommodates the Hotel Mangatera and Bottle-O liquor store have been servicing the Dannevirke township and the Manawatu region for decades. Both tenants have a history of trading strongly and are profitable businesses. The Hotel Mangatera has been on this site since the late 1800s with the hotel being completely rebuilt in the late 1950s.

Located on State Highway 2 on the eastern entrance into Dannevirke and comprising two adjoining titles of 4,433sqm of land in total. The Hotel Mangatera has a rustic charm and the property and buildings have been maintained to the highest of standards and in excellent condition. The barn-style bottle store was constructed in the late 1980s.

This opportunity for the sale of land and buildings (only) will appeal to those investors looking for a secure bottom-drawer investment.