Acquire a high-performing commercial asset strategically positioned for long-term growth in the heart of the revitalized Rotorua CBD. Dominating the high-traffic corner of Fenton and Hinemoa Streets, this fully tenanted, multi-use building offers secure income and significant future uplift potential. This former bank building presents a strong corner profile and high-quality construction. It offers a total floor area of 1,550m² across a substantial 1,589m² landholding.
Generating a net rental income of $224,776 per annum + GST, the income is secured by three independent, established tenants spanning the media, education, and dining sectors, providing excellent split-risk diversification. Situated in the heart of Rotorua's commercial district, the location is primed for accelerated growth. The forthcoming High/District Court development, earmarked directly across Hinemoa Street, is set to significantly increase foot traffic and demand for supporting professional and commercial services in the immediate vicinity. The asset features a high-standard interior fit-out reflective of its history as a banking facility. A supporting Detailed Seismic Assessment (DSA) confirms a 75% New Building Standard (NBS) rating. The building's design allows all three tenancies to be independently accessed from both the front (Fenton/Hinemoa Streets) and the rear. Tenants benefit from dedicated on-site parking at the rear, supplemented by generous customer parking available on both Fenton and Hinemoa Streets.
Features:
- Land area: 1,589m²
- Floor area: 1,550m² (approx.)
- Current net rental: $224,776 + GST
- Split risk 3 tenants
- Long lease terms
- 75% NBS rating
- Ample private parking
- Corner profile
More information: https://www.colliers.co.nz/p-NZL67037756
