79-85 Horomatangi Street, Taupo, Taupo

Strong income stream with development potential

Tender closing 12pm, Wednesday 16 March 2022 (unless sold prior)
44 Roberts Street, Taupo
• Approximately 150 metres from Taupo CBD
• Three level building fully leased as office space, plus 750sqm bare land on two separate freehold titles
• Preliminary plans available for extension of the third level of the office building
• IEP rating 85% NBS
• Net income of $161,666.00 p.a. plus GST, for 79-83 Horomatangi Street only (the tenanted building)
• Zoning is Taupo Town Centre Retail Expansion Precinct
An extremely rare opportunity to secure an excellent fully tenanted investment with 750sqm (more or less) of bare land adjoining the property on a separate freehold title, which is currently committed as car parking for the existing tenants until end June 2024 if given appropriate notice, as outlined in lease agreements.
There is also a commitment from the current owners to install a lift, scheduled to arrive in May 2022, to service all three levels with provision in the lease agreements with the two first level tenants for an increase in rent once the lift work has code compliance increasing the net rental to $169,632.60 p.a. plus GST.
With growth of the Taupo CBD restricted to the north and west by the Waikato River, and to the south by Lake Taupo the only direction for the town centre to expand is to the east where these two properties are situated.
Very rarely do properties of this nature become available in Taupo, offering a strong income stream and future development potential with the very scarce supply of bare land in these locations.
The Taupo Town Centre Retail Expansion Precinct zoning allows a variety of options for the use of the existing building and development of the bare land site adding value as a prized long term investment and development opportunity for the astute investor.
Call us today to discuss this exceptional investment option.