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Bay of Islands

40 Marsden Road, Paihia

Tender

4:00pm, Wednesday 5 June 2019

Property ID BOI11123


bed

7

bath

7

floor

800 sq m

land

1467 sq m


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Much Admired Iconic Landmark Property

The current owners of over 35 years have decided to follow another path and with the restaurant tenant's term of lease at an end have decided this is the best time to move on.

The commercial zoning allows for a wide range of activities and also allows the property to be purchased by non-residents. The perfect property to land bank.

Currently there is the restaurant space in the colonial building in front with the owners three bedroom apartment above it and behind is a second four bedroom residence currently being used for holiday rental accommodation.

The property has its own unique category in the district plan. The height restriction could allow for a multi-level building at the rear - great for apartments. The land behind is council reserve so going high will not obstruct others.

However, the property could also be returned to its former glory and make a brilliant all residential property.

The property is being sold by Tender (if not sold prior) with Tenders closing 4.00pm, Wednesday 5th June 2019.

A comprehensive Information Pack is available on request.

www.paihiabayofislands.co.nz

Chester Rendell

Chester Rendell

Bay of Islands

Cell Phone+64 21 964 873

Emailchester.rendell@nzsir.com

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