How now, cash cow?
11, & 11a Shakespeare Road, Napier South, Napier
- Proposed Usage
- Floor Area
- 1265.00 m²
- Land Area
- 991.00 m²
- Property ID
Enquire about this property
It’s not every day an investment property comes to market which meets the criteria of being rich in character whilst offering the fundamentals of a sound investment – that’s what makes 11 Shakespeare Road unique. For sale we have 2 buildings on three titles, being sold jointly as a single package. The main buildings were originally the Empire Hotel, later the Cabana Hotel, and are now leased to the Toad Hall backpackers. They were built pre-Napier-Earthquake and restored in 1932 as the first Hotel post-EQ. The Cabana Bar is now occupying the single storey dwellings next door on a lease of $30,000 per annum. Both occupants have recently signed new 10 year leases.
Zoned Fringe Commercial, this property occupies a high profile corner site right on the edge of Napier’s CBD, close to the waterfront. The leases provide excellent cashflow with built-in growth mechanisms. The property also have several angles for developing and extracting upside. Our motivated vendor is selling this property with ample opportunities available to the new owner – don’t delay your enquiry.
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