Outstanding Development Opportunity

150, Marsden Road, Paihia, Far North

Auction

Proposed Usage
Retail
Description:
Property ID
1c3mdqr

Over 1,000sqm of prime waterfront land situated on a corner site right on the promenade of Marsden Road and Davis Crescent. At present the site has a building with five separate tenants returning a holding income of $92,000pa. Providing an excellent holding yield while you determine your future. Each of the tenancies has a demolition clause in the lease. The potential is to develop either a mixed use retail and residential or motel use. The site has two road frontages with Marsden Road frontage to the waterfront and the Davis Crescent frontage is across to a scenic reserve so an ideal location for a residential or tourism development.

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Paihia Area