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Paeroa bar and restaurant premises for sale
Media
Release
10.6.2019
Paeroa bar and restaurant premises for sale
The and land and building housing a popular cafe, restaurant and bar reknown as one of Paeroa's premier tenants is for sale.
Located in the heart of Paeroa at 131 Normanby Road, one3one restaurant, bar and cafe is on a site that was redeveloped in 2013 and now has a seismic rating of 100 percent under the initial evaluation procedure (IEP).
The 630square metre building on a 775square metre freehold site, which is subject to survey, is being marketed for sale at auction at noon on June 27 through Bayleys Hamilton.
Salespeople Josh Smith and Daniel Keane said tenant GBJ Group had a long lease of running through August 2025, and two further six-year rights of renewal expiring in 2037 and generating annual rent of $85,999 plus GST.
Mr Smith said the site has a commercial 8B zoning and the business owners had kept many of the property's original features and added others such as the walls from an old villa. The copper used for the bar was gathered from old water cylinders around the district.
“One3one is a popular eatery and bar catering to travellers, locals, sporting groups, clubs and professionals as a central meeting point supported with 18 gaming machines,” he said.
The site is rich in history from the original 1895 foundations for one of the first taverns established in Paeroa to its modern rebuild in 2013.
“The place oozes stories from its first hardy gold miners, Kauri bushman and pioneering farmer patrons, to today's travellers, sports teams, groups and locals,” Mr Smith said.
The original old Fathers Tavern was two storeys high, but due to changes in licensing rules it was reduced to a single storey in 1975 when extensive structural work was completed.
Six years ago when the current owners bought the property after years of “neglect” they embarked on a restoration journey to return the property to one of Paeroa' s prominent eateries and bar, Mr Smith said.
“After an extensive rebuild and throughout the refit the owners kept in mind the history of the building salvaging floor boards, light fittings and doors to keep some of the original heritage,” he said.
“When entering though the reclaimed doors people are struck by the prominent copper topped bar adorned with recycled rimu paneling centrally located and accessible from three sides. To the left is the bar with recycled rimu leaners and stools, a big screen projector for live sports games or meetings with casual dining.”
The restaurant on the right hand side has both tables and booths for a more formal dining experience. There is a gas-heated outdoor courtyard to the side of the restaurant with leaners offering an alternative to the indoor environment.
An informal lounge area to the front of the kitchen service area has been created as a spot for gathering before meals, informal coffees and casual meetings that is used by many travellers as a comfortable coffee stop with wifi provided.
Mr Smith said a well-presented gaming machine room with 18 machines was located on the rear left hand side. A large kitchen was located to the rear of the building with access to the office and chiller. Adjoining the kitchen was additional storage, a chiller and staff bathroom.
There is access to the driveway for delivery of goods minimising trade deliveries in the public area. A full security camera and alarm system is in place in all areas with sensors in the ceiling cavity and excellent outdoor security lighting. Climate control is by four heat pumps with an electric fire in the main restaurant.
Keeping the old with new when the property was rebuilt, it was re-clad and new aluminium joinery installed giving a modern feeling to an old gem, Mr Smith said.
“The corner site is ideal for its prominent tenant and the property has everything an astute buyer needs,” he said.
Paeroa was the 2012 winner of the New Zealand Community of the Year award. The town is ‘world-famous’ in around the country for its L&P bottle landmark, where many visitors stop for a photographic snap on their travels.
Bayleys Real Estate
New Zealand
Bayleys is New Zealand's largest full-service real estate company. We offer expertise in the marketing and sale of a wide range of property, including residential real estate, farms and lifestyle blocks, and commercial and industrial property. This includes tourism and business sales such as hotels and motels. We also cover the real estate markets in Fiji and other Pacific Islands.
Bayleys also provides a complete property and facilities service including property management and valuations teams focused on achieving both Owner and Tenant satisfaction.
No other real estate company can match our breadth of coverage across all market sectors throughout New Zealand.
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