Listing Description
Listed: Fri, 13 Mar
Investment opportunity. Prime CBD corner site
2 Barraud Street, Dannevirke, Tararua, Manawatu / Whanganui
Details
| Attribute | Value |
|---|---|
| Property use | Hotel/Leisure |
| Capital value (CV) | $405,000 |
| Agency reference | DC224567 |
Description
Motivated vendor. Genuine sale required. The Saigon Hotel is a well-known landmark property positioned in the heart of Dannevirke’s CBD. Occupying a prominent corner site on the main street (SH2), the property benefits from excellent exposure and strong pedestrian flow, with a key thoroughfare linking directly to nearby businesses including New World. This substantial commercial property generates a reliable income stream from established tenants, while still offering significant potential for future development or refurbishment. Currently operating within the building are a busy Thai restaurant and bar, a sports bar and gaming lounge, along with a large accommodation complex located on the upper level. Property Highlights
- Land Area: 1,092m2 (approx)
- Floor Area: 1,390m2 (approx)
- Zoning: Commercial Management
- Current Income: $65,000 gross + GST per annum The property enjoys strong visibility with high vehicle counts, steady foot traffic, and convenient nearby parking. Value-Add Opportunities
- Refurbish and modernise the existing building
- Develop currently under-utilised areas for additional income
- Secure a strategic long-term CBD landholding Opportunities to acquire a property of this scale and profile in Dannevirke commercial centre are rare.
