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‘One off the shelf’ for property investors

‘One off the shelf’ for property investors as pioneer village’s general store and land goes up for sale

Positioned right in the heart of the historic Puhoi village, is the iconic Puhoi General Store. The store, a stylish four-bedroom home, two further retail spaces and 1,343 square metres of freehold landholding are being offered for sale by tender (unless sold prior) through Bayleys Real Estate, with tenders closing on March 26 2020.

This tenanted investment opportunity includes the land and buildings on a five-year lease arrangement (with a further three five-year rights of renewal). The complete property is on a singular lease generating a net annual of $145,000 plus GST, with rental reviews scheduled every five years.

The established owner-occupier of 18 years is now seeking to sell the property so he can invest into a residential property while retaining the profitable going concern businesses.

The General Store has character bursting from its exposed wooden beams to its polished wooden floors. The shop has everything a local or tourist is looking for - from everyday grocery necessities, beer and wine, Puhoi souvenirs, hot pies, chips and oysters, as well as good coffee and Danish pasties. Patrons can sit out in front or in the courtyard under the large raised verandah with views across to the Puhoi River. Part of the store is also utilised as a real estate office for Mike Pero Limited.

Adjoining the general store is the recently completed modern four-bedroom home. Outdoor dining, large decks and an open plan design provide a space ideal for the entertainer or family.

Currently used by the owner, the home would also be ideal for alternative business opportunities such as a B&B type operation or rental investment. School buses pick-up and drop-off regularly from directly outside, providing transport to the North Shore and Warkworth schools.

Good carparking is a key component to allow for future development. Fortunately, there’s plenty here, from roadside parking outside the store for customers and buses and 16 consented carparks are provided onsite.

Puhoi was originally established in 1868 by immigrants from Bohemia, whose names adorn many of the road signs in the area and whose descendants still call Puhoi home. Since those early days Puhoi has developed into a bustling tourist village, whose attractions also include the legendary Puhoi Pub, Puhoi River Kayak Tours, The Puhoi Cheese Factory & Café and the monthly farmers market.

The land and tenanted buildings at 109 Puhoi Road are being marketed for sale by tender by Bayleys Warkworth salespeople Henry Napier and John Barnett who said: “The block is one of only one two commercial zoned land holdings in the centre of Puhoi. Southern access both from and to the new toll road north and demand from those looking for a lifestyle change, will continue to underpin values in the area now and into the future.”

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