Split risk tenanted investment

1232, Arawa Street, Rotorua, Rotorua

By Negotiation

Proposed Usage
Development Site
Floor Area
882.00 m²
Description:
Property ID
1c060k9

Asking price plus GST (if any).
- Freehold title of 913sqm
- Two separate tenancies
- Extensively refurbished in 2016/17
- Established businesses as tenants
- Currently returning $80,600 net +GST per annum

Located on busy Arawa Street in central Rotorua nearby dining precinct Eat Streat, the Rotorua Hospital, and newly established Lakesyde offices - professional tenants are in the neighbourhood. Recently the approx. 882sqm buildings have undergone extensive modernisation and strengthening, attracting new tenants APL Property in July 2017, who have secured their offices for four years with a right of renewal, which is in addition to established bar, Kiwi Spirit who offer meals and have a license to operate 18 gambling machines on the premises and are two years into a six-year initial term to October 2021. This property is a good long term holding for the savvy investor.

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Rotorua Area