Kihini
Here is your opportunity to be the next owner of this prominent main street building in the centre of the main street of Smithton. The solid brick 1930's building was constructed as a bank with a generous four bedroom residence at the rear. The shopfront is leased by Spinks Property Services and has occupied by the business since 1988. Commercial lease in place with options until 2030.
Income Spinks Property Services $2003 per month (incl GST) $21,840 p.a. net. The initial 3-year lease commenced 22/5/15 with a further 5 x 3-year options. 1% annual rent increases.
House $290 per week $15,080 p.a.
Total $36,920
Expenses
Council rates $3157
Land Tax $584
Taswater $1140
Management fees $1500
Insurance $2454
Minus SPS share $2440 (50% rates, Taswater and land tax)
Total $6395
Net rental $30,525 per annum.
Wāhi Tiriti | Tawhiti | Tau Rūma Moe | Tau Rūma Horoi | Rohe Whare | Wā Hokona | Utu Hokona | Pūtake Raraunga | |
|---|---|---|---|---|---|---|---|---|
 | 0.59 km | 3 | 1 | -m2 | 2025 01 19 | - | Council approved | |
 | 0.58 km | 4 | 1 | -m2 | 2024 12 09 | $480,000 | Council approved | |
 | 0.35 km | 4 | 1 | -m2 | 2024 12 03 | $525,000 | Council approved | |
 | 0.41 km | 2 | 1 | -m2 | 2024 11 24 | $317,500 | Council approved | |
 | 0.32 km | 3 | 2 | -m2 | 2024 10 31 | $250,000 | Council approved |