1088-1090 Papamoa Beach Road, Papamoa, Tauranga, Bay Of Plenty

This rare opportunity is located in one of the fastest-growing regions in the Bay of Plenty, this beachside stunner presents an opportunity that seldom comes to market. Set on Freehold 372m² of commercial-zoned land, the property features a 220m² (approx.) building configured into two tenancies, secured with a lease term through to 2030 with further Rights of Renewal through to 2035. This offers valuable split-risk security with reliable income from day one, along with a minimum 5% annual rental growth.   Positioned in the heart of Papamoa’s thriving commercial precincts, the site is sure to impress. Buyers will immediately recognise the potential to add value, with clear future redevelopment opportunities in this highly sought-after coastal location.   Don’t miss your chance to secure a slice of this booming beachside hub, opportunities like this are rare.   Contact Dan or Rich to arrange a viewing today.

Features:

• Freehold title
• Huge road profile
• Commercial zoned
• Rear service lane access
• Freehold land area 372m²
• Building area 220m² (approx.)
• Fixed annual rental growth
• Current net rental of $57,813.97

For Sale by Auction at 11am, Thursday 19th February at the Armitage Hotel, Tauranga (unless sold prior)

More information: https://www.colliers.co.nz/p-NZL67037701