Outstanding Development Opportunity
150, Marsden Road, Paihia, Far North
- Proposed Usage
- Floor Area
- 600.00 m²
- Land Area
- 1000.00 m²
- Auction Date
- 14:00 - Feb 20, 2019
- Property ID
PLEASE NOTE: Auction has been postponed to 20th February 2019.
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..