Majestic Opportunity in Putaruru
|79 Princess Street
|Asking price $570,000
This is a magnificent building on a substantial property in South Waikato.
The story goes that the building was built in the early 1950’s for the Queen
of England to stay on her visit to New Zealand for her coronation tour.
The Queen did not end up staying in the hotel although a room was
created for her and is still called the Queens room to this day.
The property is split into 2 tenancies with one being the public bar (which
has 18 gaming machines that earn the tenant a great income) and the
other being the restaurant accommodation and function rooms.
The rental is very achievable and the operator has extensive experience
which he is using to grow the business.
The building is on a large piece of land that has an abundance of parking.
Rental ($55k pa):
1. $25,000 + GST
Lease term of 6 years from 02.2017
2. $30,000 + GST
Lease term 3 years from 11.2016
Net return on asking price: 9.6%
Call Luke now on 021 441 988 for all the details.