The land and building housing a popular two-storey al-fresco drinking and dining establishment on the Tauranga Harbour foreshore have been placed on the market for sale.
The 134sq m property at 53 The Strand in Central Tauranga contains the well-established hospitality operations of casual dining venue Brooklyn in a 264.3 square metre building.
Brooklyn's hospitality operations feature a dining component in 142 square metres of the upper level with a prominent glass balustrade-enclosed deck sitting over the pavement below, and the venue's bar occupying some 122 square metres on the ground floor – enabling Brooklyn to run pavement table service.
Brooklyn bar and restaurant is on a lease running through to 2028 with a further six-year right of renewal, generating annual rental of $67,500 and the tenant paying all outgoings. The commercial rent for 53 The Strand is set to increase to $75,500 when the property sells and a new owner takes possession.
The property is now being jointly marketed for sale at auction at 1pm on October 30th through Lloyd Davidson of Bayleys Tauranga and Philip Hunt of Ray White Commercial Tauranga. Davidson said the freehold land was zoned city centre under Tauranga City Council's spatial plan, which allowed for buildings up to 16-metres high – equating to what could be a street level retail premises with four storeys above.