Cooks Beach restaurant premises on the menu
The land and building housing one of the busiest – and longest continually run – upmarket restaurants on the Coromandel Peninsula have been placed on the market.
The property at Cooks Beach overlooking Mercury Bay houses the popular year-round dining establishment KaiZen at Go Vino as its ground floor tenant, with a three-bedroom residential dwelling situated on the upper level of the premises.
The original Go Vino dining artgallery de´ cor concept was first developed in Hamilton in 2003, branching out several years later from a wine shop into a tapas eatery.
The venue has just rebranded itself as KaiZen at Go Vino, but under the former name of Go Vino the bar and eatery opened its Cooks Beach location, just 100 metres from the beach, in 2007.
Since then, it has become an integral part of the Cooks Beach community with its customer catchment area stretching in all directions across the entire Coromandel Peninsula.
Now the prominent two-storey property at 19 Captain Cook Road, located in the Cooks Beach compact retail strip, is being jointly marketed for sale at auction on July 8 through Bayleys Hamilton and Bayleys Whitianga.
Salespeople Josh Smith and Belinda Sammons said that KaiZen at Go Vino and the three-bedroom residence upstairs occupy approximately 370-sqm of street level retail and first upper floor accommodation space. The commercial portion, encompassing the venue’s dining and bar areas – which include pavement dining at the front and a private enclosed dining courtyard area at the rear - as well as guest bathrooms, the commercial-grade kitchen and foodservice areas, and staff amenities.
Upstairs, the modern private threebedroom apartment offers ocean and park views from its wrap-around deck space.
The two individual portions of the Captain Cook Road property have been occupied by the same tenant, with the business owner living in the apartment upstairs. The building sits on around 546 sqm of freehold land.
The ground floor hospitality space occupied by KaiZen at Go Vino is on a lease running through to later this year with two further three-year rights of renewal – generating annual rental of $25,250 plus GST and operating expenses. Meanwhile, the apartment has been let for $220 a week. This is soon to increase to $500 a week.
Sammons said that the tidy, wellpresented Captain Cook Road address was zoned commercial (8A) in the Thames Coromandel District Council plan and was one of only a few commercially zoned properties within the Cooks Beach locale, including the town’s liquor off-license and the general store.
“With a scarcity of long-term rental accommodation in the Cooks Beach locale, the split tenancy format of 19 Captain Cook Road makes it an attractive proposition for the operator of the foodservice portion of the property to additionally occupy the comfortable living space immediately upstairs,” Sammons said.
“It is two-pronged tenancy format which has operated successfully for some 14-years now as the KaiZen at Go Vino business has year-on-year grown its clientele.”