Property Overview
6 Main Road is a multi-tenanted investment opportunity on Katikati's main retail strip, opposite one of the town's busiest intersections and directly on State Highway 2 — the corridor carrying traffic between Tauranga and Waihi.
Four established tenancies spread the income across an Italian restaurant and takeaway, an Indian grocery, a barbershop and a charity op shop. That diversity is the point: no single tenant carries the building, which materially reduces the risk to an investor. Three have Main Road frontage, and the fourth is reached down the arcade access. Lease expiries run from 2031 to 2037, and the passing net income is NZ$101,301 per annum plus GST and 100% of outgoings.
The building runs over two levels: retail at street level, basement storage below, and a rear carpark reached from Kotahi Lane. It was built in the 1960s, with the rear extension and basement added around 2005. The basement is only partly taken up under the current leases, which leaves room to add income without disturbing the retail tenancies.
Provincial Bay of Plenty towns have been performing strongly relative to the city centres, and Katikati's role as the service centre between Tauranga and Waihi underpins that.
Floor and land areas are approximate and taken from the marketing material. Prospective purchasers should make their own enquiries.
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Property Highlights
- Four tenancies — three with Main Road frontage
- Fully leased, income in place
- State Highway 2 frontage
- Provincial Bay of Plenty town
- Rear carpark off Kotahi Lane
- Basement storage, partly unused
- Two levels, extended around 2005