A very unique land investment opportunity with a 7 year +7 Year lease in place with a net rental income of $474,000.00 + GST + Outgoings pa from a large rest home facility with future potential for development of this large 3,231sqm corner site within a stone's throw of the CBD Tauranga. The very substantial buildings have been well maintained and have an A-Grade seismic rating for real peace of mind. These buildings are leased on a long-term basis to a very experienced operator who has managed facilities like this for decades.

There is also the option under the terms of the lease to redevelop the whole property much earlier. Such a large strategic land holding rarely comes available especially with such strong positive cash returns but also allowing the option to realise it's true development value in the near future. With the Tauranga City Council reviewing building heights on the Te Papa Peninsula this property is sure to be in the discussion and with the reported redevelopment of the Tauranga Courthouse directly across the road there is huge potential in this property as future Commercial/Residential development.

Adjacent land could also be purchased to make this an even larger proposition

For further information call Bayleys now