Re­fur­bished Tawa bar now for sale

Kapi-Mana News - - FRONT PAGE - CHLOE WINTER

‘‘The build­ing is cur­rently be­ing con­verted from five shops into a res­tau­rant, bar and a hair­dressers.’’

Tawa’s new­est bar, which comes com­plete with a gar­den area, is up for sale.

The build­ing, on the Main Rd, is cur­rently be­ing con­verted from five shops into a res­tau­rant, bar and a hair­dressers.

When com­plete, the prop­erty that sits on 1012 square me­tres of land, will have 380 square me­tres of hos­pi­tal­ity space plus a 143 sqm gar­den bar, and car park­ing to the back.

The 450 square-me­tre build­ing is next to the Tawa Pub­lic Li­brary and has two re­tail tenants - Tawa Hospo and hair­dresser Sa­lon Savoy.

Bay­leys real es­tate agent Grant Young, who was mar­ket­ing the prop­erty with his col­league Jim Wana, said it com­prised of a sin­gle-storey build­ing of five re­tail shops built in the 1970s.

The cur­rent rate­able value is $1.04 mil­lion.

Work is still on-go­ing at the prop­erty, in­clud­ing re­plac­ing the roof, lay­ing as­phalt in the rear carpark, fin­ish­ing a seis­mic up­grade up to 70 per cent of the new build­ing stan­dard, cre­at­ing the rear gar­den area, new shop fronts, and the cafe and bar fit-out.

Tawa Hospo has a 10 year lease, while Sa­lon Savoy is on a four year lease - both with the right of re­newal.

The prop­erty is 1.5 kilo­me­tres from the mo­tor­way at the Gre­nada North ac­cess to the south.

Main Rd is the ma­jor thor­ough­fare through the Tawa town cen­tre and is sur­rounded by re­tail and in­dus­trial busi­nesses and res­i­den­tial prop­er­ties.

The bar is the lastest in a line of re­cent devel­op­ments in the area in­clud­ing Count­down and Tawa Junc­tion, with Out­let City (for­merly Dress­mart) to the south.

Out­let City was sold in April to Nelson in­vest­ment com­pany Thomp­son Prop­erty Group for in ex­cess of $10m.

The 5500 square me­tre build­ing - which sits on 3.36 hectare site on Main Rd - was sold by Welling­ton com­pany PrimeProp­erty Group.

Orig­i­nally known as Dress­mart, the out­let cen­tre opened in 2002.

It was pur­chased by PrimeProp­erty in 2013, who re­branded it Out­let City in a move to align the cen­tre more with the in­ter­na­tion­ally recog­nised de­scrip­tion of dis­count or fac­tory out­let shop­ping.

Five shops have been con­verted into a bar in Tawa.

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