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Paihia, 22 Selwyn Road

Solid Build, Solid Tenants, Solid Buy

Auction 01 Dec 2017 Unless Sold Prior

Listing Number: KK25526
About this listing
This freehold commercial investment property is located on Selwyn Road in the centre of Paihia, the tourism hub of the Bay of Islands.

The property contains two adjacent buildings that are near identical in appearance and layout. The west building is slightly larger and the ground floor has been split into two tenancy areas. These 2006 built, multi-tenanted buildings compromise a total of 493m² of floor area split over two levels. A right of way separates the buildings as access to the tenant's 17 carparks and the neighbouring property.

Anchor tenants Queenstown Resort College are recognised as one of NZ's premier tourism and hospitality management tertiary education providers and are passionate about being located in the tourism heart of the north. Second anchor tenant Paihia Medical Centre has been here since 2009 servicing the local community.

The building's construction consists of tilt slab concrete and textured fibre cement cladding around the second storey.
The buildings are finished to a high standard with copper spouting and exceptional drainage. The right of way and carpark area is concrete.

Contact your Commercial & Business Specialist to discuss this exciting investment opportunity.
Auction date
Friday 1 Dec 2:00 p.m. (Harcourts Office, 74 Kerikeri Road.)
Unless Sold Prior
Property Information
  • Approx Floor Area: 493 sqm
  • Tenure: Fee Simple
  • Parking: Uncovered: 17
  • Property Type: Office, Retail
  • Approx Floor Area
    • Office Square Metres: 259
    • Retail Square Metres: 234
  • Tenancy: Total rental if more than 1 tenancy $ (+ GST): $139,700 plus GST, Additional Details: Rates: $11,585.07 plus GST Building Insurance: $6,058.25 plus GST
  • Tenancy 1: Area Sqm: 49m² + 15m² of common area, Commencement Date: 2016-12-01T00:00:00.0000000, Expiry Date: 2017-11-30T00:00:00.0000000, Rental net/gross p.a.: $19,200 plus GST + Outgoings, Review Dates: 01/12/2017, Rights of Renewal: 3 of 2 years each, Tenant Name: Tenancy Unit 1A - Classic Holidays Limited, Term (years): 1 year
  • Tenancy 2: Area Sqm: 64m² + 15m² of common area, Commencement Date: 2016-04-01T00:00:00.0000000, Expiry Date: 2018-12-31T00:00:00.0000000, Rental net/gross p.a.: $19,000 plus GST + Outgoings, Review Dates: 01 January 2019 and 2025, Rights of Renewal: 2 of 6 years each, Tenant Name: Tenancy Unit 1B - Queenstown Resort College Limited, Term (years): 21 months
  • Tenancy 3: Area Sqm: 108.8m², Commencement Date: 2009-02-20T00:00:00.0000000, Expiry Date: 2020-02-19T00:00:00.0000000, Rental net/gross p.a.: $46,500 plus GST + Outgoings, Review Dates: Every 30 months from 20 February 2015, Rights of Renewal: 2 of 5 years each, Tenant Name: Tenancy Unit 2 - Lawrence Medical Services Limited, Term (years): 5 years
  • Tenancy 4: Area Sqm: 138.2m², Commencement Date: 2016-01-01T00:00:00.0000000, Expiry Date: 2019-12-31T00:00:00.0000000, Rental net/gross p.a.: $30,000 plus GST + Outgoings, Review Dates: 01 January 2019 and 2025, Rights of Renewal: 2 of 6 years each, Tenant Name: Tenancy Unit 3 - Queenstown Resort College Limited, Term (years): 3 years
  • Tenancy 5: Area Sqm: 118.4m², Commencement Date: 2016-01-01T00:00:00.0000000, Expiry Date: 2019-12-31T00:00:00.0000000, Rental net/gross p.a.: $25,000 plus GST + Outgoings, Review Dates: 01 January 2019 and 2025, Rights of Renewal: 2 of 6 years each, Tenant Name: Tenancy Unit 4 - Queenstown Resort College Limited, Term (years): 3 years

Contact Details

Kerikeri

Bay of Islands Realty Ltd

Licensed REAA 2008

74 Kerikeri Rd
Kerikeri
Office website

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