• Split risk- commercial and residential

• Circa $40,000 net holding income +GST/OPEX
• Opportunity to lift seismic rating
• Commercial tenancy expiring 1 March 2023

Prominently positioned in the heart of Paeroa, 78 Normanby Road offers a substantial footprint with access form both Normanby Road and Willoughby Street. The property is currently occupied on the ground floor by a hardware store with their lease expiring March 1st 2023 giving the new owner the opportunity to start with a blank canvas. The five bedroom apartment on the first floor has recently been refurbished offering a glimpse in to the future of the property. A preliminary IEP report is available for review. The holding income of the commercial tenant until 2023 would allow time for an add value investor to explore strengthening options. Additionally there is an opportunity of potentially splitting into multiple tenancies making use of the dual street entrances.

Quality properties in Paeroa are commanding substantially better commercial rental rates than what 78 Normanby Road is currently retuning. The town is experiencing excellent growth with major housing developments happening and a large scale retirement village underway.

Land Area 577sqm (more or less)

Floor Area 520sqm (more or less)