A fully leased cafe with upstairs apartment is for sale in Mount Maunganui’s landmark new Salt residential development.
Located on busy Girven Road, Kawakawa Cafe occupies a prime road front position at the gateway to Salt’s 71 recently completed apartments and townhouses.
The cafe is on new 10-year lease to an experienced operator who runs another successful eatery nearby.
The lease includes the upstairs apartment, which means a prudent investor will only have to manage one tenant to enjoy $64,000 plus GST in net annual rental income.
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Grant White, Director of Colliers Tauranga, says it is an opportunity to secure a modern retail investment with an edge.
“Salt is one of Mount Maunganui’s most successful residential developments, having all but sold out prior to its completion last year.
“The property for sale comprises a 73sq m ground floor cafe, 68sq m of exclusive outdoor dining space and an 81sq m first-floor apartment.
“The cafe has a contemporary but timeless design that creates a welcoming space for Salt’s residents, as well as customers from the large surrounding neighbourhood.
“The outdoor areas have been designed to catch the morning sun and are well sheltered from the prevailing wind, providing for use all year around.
“The cosy upstairs apartment provides a light, airy living space and a 10sq m balcony facing the morning sun.
“With one tenant occupying both the cafe and apartment, and boasting low-maintenance modern construction, this a hassle-free long-term investment proposition.”
Colliers Tauranga has been exclusively appointed to market the property at 73 Girven Road, Mount Maunganui, for sale by auction at 11am on Thursday 18 February, unless it sells earlier.
Simon Clark, Managing Director of Colliers Tauranga, says the superb location is key to the property’s appeal.
“The road frontage to Girven Road provides excellent exposure to more than 15,000 cars passing daily.
“The location is also a short walk to the Bayfair Shopping Centre as well as the Ocean Beach at the other end of Girven Road.
“There is plenty of parking available, with the use of eight off-street car parks for ease of access for customers.”
Mount Maunganui is one of the most sought-after destinations in the Bay of Plenty, which is New Zealand’s second-fastest growing region. The region’s population grew 15.2 per cent in the five years to 2018, while Tauranga/Mount Maunganui’s population grew 19.1 per cent to 136,713.
