High-pro­file Paeroa site for sale

Waihi Leader - - News -

A Paeroa land­mark, the L&P cafe´ build­ing, is up for sale.

The land and build­ings fea­tur­ing a sixme­tre tall soft drink bot­tle mon­u­ment out­side its front doors has been placed on the mar­ket for sale.

The L&P (Lemon and Paeroa) Cafe´ Bar and Brasserie build­ing in the Waikato town­ship of Paeroa is lo­cated on the town’s main ar­te­rial route, Sey­mour Street, which is also State High­way Two – link­ing the south­ern base of the Bom­bay Hills and Tau­ranga.

The prop­erty at 2 Sey­mour Street is be­ing mar­keted for sale at auction at 1pm on June 27 through Bay­leys Tau­ranga.

Sales­peo­ple Jo Ste­wart and Bren­don Bradley said the prop­erty’s 444 square me­tre build­ing was on 2546 square me­tres of land – pro­vid­ing vast amounts of park­ing spa­ces for cafe cus­tomers’ ve­hi­cles.

“The land­mark prop­erty with its large replica six-me­tre L&P bot­tle dom­i­nat­ing the land­scape oc­cu­pies a high-pro­file cor­ner site at the north­ern en­trance to Paeroa town­ship,” Jo says.

“The sin­gle­storey build­ing has two ten­an­cies – with the an­chor ten­ant be­ing the iconic L&P Cafe´ Bar and Brasserie which un­der­went a stylish and stun­ning re­fur­bish­ment in 2015.

“The re­fur­bish­ment in­cluded a new kitchen and cafe´ din­ing room fit-out and fa­cil­i­ties – which are all owned by the land­lord.

“The ad­ja­cent ten­ancy is a re­tail or of­fice premises which is cur­rently va­cant.”

Cafe´ op­er­a­tor Cloud 9 Group Ltd is cur­rently on a three-year lease in the premises, with a fur­ther three-year right of re­newal – gen­er­at­ing a net rental of $53,352 plus GST.

The ad­ja­cent va­cant space has an es­ti­mated an­nual rental-gen­er­at­ing capacity of $19,000 plus GST per an­num.

Bren­don Bradley said there was suf­fi­cient car park­ing capacity on-site to eas­ily ac­com­mo­date any new com­ple­ment of staff who would be work­ing in the cur­rently va­cant space within the build­ing.

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