For sale by Deadline Private Treaty closing 4:00pm, Thursday 25 February 2021 (unless sold prior) at 129 Hurstmere Road, Takapuna.
Strong tenanted investment in Silverdale, showing an excellent return!
The Northern Union Tavern has become an icon in the Silverdale area. The building is an imposing one sited on a high profile roundabout at the gateway to the new Silverdale business district.
At approximately 206m² plus large outdoor areas, the tavern is a stylish and popular meeting spot for locals and visitors. The elevated decks give excellent indoor/outdoor flow, and the bar and dining areas enjoy an inviting and comfortable atmosphere. There is ample parking in the area; onsite the parking is communal with 11 car parks to service the tavern.
The lease which commenced in June 2014 is held by experienced operators. The term is 10 years and there are rights of renewal and built-in growth with a mix of CPI and market rent reviews.
The location has grown in popularity in recent years with extensive residential and commercial development. Silverdale has evolved into the commercial hub of the Hibiscus Coast and the Northern Rodney region, catering to the district's fast-growing population. The commercial development has been substantial with most of the big names moving to the area. The Millwater area continues to grow at an alarming rate, ensuring excellent tenant demand and strong patronage well into the future.
In summary, an exciting and secure investment with little competition in the area. The vendor has other plans and wants this sold.
KEY FEATURES: • Strong tenanted investment • Returning $126,613.80 per annum plus GST and outgoings • Purpose-built tavern with little competition in the area • High profile position • Strong growth location • Will be sold - call for further information