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Healthy Returns - Exceptional Future Potential

Paihia, 16 Williams Road

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Sold
Sold
Listing Number: KK24448
About this listing

SOLD - This listing was sold in April 2019.

Situated within an easy two-minute walk of the busy main centre of Paihia, this multi-tenanted commercially zoned property, offers sound passive returns and excellent landbank potential. The flat, 1,733 square metre triangular site is bounded on two sides by road, with multiple access points. Two strong leases are in place and rental returns are healthy, but the future development potential is exceptional.

Paihia, a thriving waterfront town relying heavily on tourism, is the perfect setting for motel expansion and this 1970s-built example with Council approved plans for additional units, is an easy way to get a foothold in the market. The low building profile also lends itself to second story development. The bonus is an additional building, currently leased as a dentistry, with a view to long-term rental commitment.

An opportunity such as this doesn't come along often, and my vendors are committed to moving forward. Viewing is recommended.

Price plus GST (if any).
Property Information
  • Approx Floor Area: 316 sqm
  • Land Size: 1733 sqm
  • Tenure: Fee Simple
  • Property Type: Other (Motel and Dentist as tenants), Tenanted Investment
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