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Bay of Plenty
- Split risk investment with two tenants providing strong income/cash flow
- 453sqm commercial site / 475sqm building / C Grade Seismic Rating
- City Centre zoned for future multilevel redevelopment up to 49 metres
- Annual net rental of $108,000 + GST & Outgoings
This fully tenanted freehold investment presents the perfect time to purchase in the Tauranga CBD. Situated at the top of the rise on the eastern side of Devonport Road, the site offers position, profile and significant potential to capitalise on the expected growth of a large inner city apartment population.
One of the city's character buildings featuring its original front facade, the premises are occupied by two retail tenants on new three year leases with further rights of renewal. However both include redevelopment clauses that provide future options for either developers and/or passive investors alike.
Enjoy the existing rental income or plan a new multilevel mixed use development to redefine this location with your landmark. Great opportunity to be a part of the renaissance activity currently underway in the CBD and reap the rewards of a much more vibrant and dynamic Tauranga City Centre!
|Location:||Bayleys Auction Rooms|
|Time:||Wednesday 7th August - 1:00PM|