20 Mountainview Road, Culverden, Hurunui, Canterbury

You want to own a pretty cool building, well this is it. The building use to originally house the Amuri Mounted Rifles regiment. These were the lads from the surrounding district that were deployed to WW1 on horseback. As time went on the building has been used as a dance hall for the local lads and ladies to dance the night away, to then being a movie theatre, and then the front part being the local tearooms.

Now days the front part of the building is leased to a hairdressers, the middle part of the building is leased to an arts and craft business, while the two bedroom flat is also rented out.

Leases: Hairdressers $290/Week + GST + Outgoings ( Yearly $15,080 )

Arts and Crafts Business $300/Week + GST + Outgoings ( Yearly $15,600 )

2 Bedroom Flat $300/Week ( Yearly $15,600 )

Total Yearly Income $46,280

The longest it’s taken us to rent the two bedroom officers quarters flat was 6 hours. There is a real shortage of rental accommodation in Culverden. Also a lot of people rent in Culverden, but work in Hanmer due to the shortage of rental properties in Hanmer. Housing in Hanmer is predominately holiday homes that owners make more money renting them out as holiday homes than rental properties. The two commercial businesses present in the building have strong patronage and enjoy foot traffic from the main street and corresponding Red Post Café next door.

The current leases have a right of renewal of another three years from May 2029, and May 2030 respectively, while the two bedroom flat has just been extended for another year ending in April 2025.

The building has a rating of 69% NBS so no problem getting insurance as it currently has.

Section is 883sqm

The building is located really well on the main street of Culverden SH7, opposite the carpark that everyone uses to pull off the main road to use the amenities.

Asking Price of $550,000 + GST if any.

Anymore information required just drop Jono Taylor a call on 021 253 6689.