Amid escalating house prices, a residential, holiday and caravan complex at Waihi Beach in the Western Bay of Plenty offers coastal living at an entry level price.
The property encompassing a home and established business has been placed on the market for sale.
One of only two accommodation types of its kind in the area, the Beach Life Village complex incorporates long and short-term residential housing options with cottages and caravan facilities to cover a range of needs for locals and visitors to the popular destination. Waihi Beach is located on the doorstep of the internationally renowned Hauraki Rail Trail, 12km east of Waihi and 60km north of Tauranga.
In addition to income streams, the property also features an owner’s residence, allowing a potential new owner to reap the potential rewards of this lifestyle property situated just 400 metres from a 10 kilometre stretch of beach.
The property has been placed on the market for sale with Bayleys Tauranga salespeople Brendon and Lynn Bradley through a tender process closing on August 14. The complex has a Capital Valuation of $1.065 million.
Located at 127 Emerton Road in the Island View area, Beach Life Village is strategically situated at the southern entrance to Waihi Beach, close to a range of basic goods and services including convenience stores and cafes. In the summer the population swells to more than 16,000 when holidaymakers flock to the area, according to Census figures.
Bayleys salesperson Brendon Bradley who is marketing the property, said the property combined the best of both worlds - lifestyle and income.
There are nine studio and one-bedroom cottages onsite - four of which have already been sold and a further five on the market that are currently available for short or long term rental.
A seven-bay parking area accommodates campervans and caravans, with underground power connections. A utility/amenities building provides two-car garaging, work bench and storage areas. The northern section of the building includes a residents’ kitchen, laundry, storage space and two guest bathrooms.
“The business model is based on the sale of a number of cottage units with the sites then being leased on an annual land licence-to-occupy basis, plus residential cottage rentals and long term caravan site licences to occupy, which includes full use of the village amenities and facilities. This is a one of only two such accommodation businesses in the area that combines all these offerings. ”
Mr Bradley said the location and amenities of the complex made it a popular accommodation choice with customers and an appealing investment for an astute buyer.