1429 Main North Road, Waikuku, Waimakariri

Income and upsides on 1.34 hectares

Deadline Sale (unless sold prior)
2pm, Thur 7 Mar 2024
3 Deans Ave, Chch

Negotiable over $1,250,000 + Plus GST (if any)

Offering an income from existing tenancies plus spare land and access to State Highway One, this investment property deserves another look.

Known as "The Old School Collective" formerly the site of Waikuku School, the site has become a popular and well regarded destination for locals, visitors and travellers alike. Comprising currently, of eight individual tenants with commercial leases in place to 2037.

One upside is the space for additional tenants meaning more income for the land owner. This property will appeal to first time commercial investors or owner operators looking for a local base. The land at the rear could be developed further into storage units, subdivided into sections (planning permission dependent) or used to park equipment which needs easy access to State Highway One. Ideal as a contractors or sub-contractors yard. This property will always have the appeal of the attractive holding income from the diverse leases in place.

• High visibility with over 12,000 traffic movements daily (sourced from nzta website)
• Zoned Residential 4B (large lot residential)
• 80% NBS rating
• 1.34 hectares of land, 849sqm buildings more or less of available space
• Current net income of approximately $115,305 plus GST plus outgoings, with scope for further growth
• Close proximity to the expanding townships of Rangiora, Woodend and Pegasus

If you are looking for a secure investment or are looking for an outlet for your own business alongside a passive income, The Old School Collective is worth exploring. This unique investment is simply poised for further exciting growth, a rare and exciting proposition. So please call now for more information and to arrange a viewing.