Eat Streat building sells to out-of-town investor

This Eat Streat building with six tenants has just been sold. Photo/supplied

A building on Eat Streat that houses six high-profile tenants has been sold.

The building at the lake-end corner of Eat Streat has six tenants, including Lady Janes Ice Cream Parlour, Meatery, Ambrosia Restaurant and Bar, Sobar, Atticus Finch and the Ministry of Social Development.

Colliers International agent Mathew Gibbard said there was strong interest in the building given its sought-after location.

He said three contracts were presented and the eventual buyer was a farming family from Whakatane.

Mr Gibbard said the building, which has a land area of 1012sq m, was bound by the six lease agreements and the family were happy to keep running the building as a commercial investment.

He wouldn't disclose how much it sold for.

Meanwhile, the land and buildings housing a neighbourhood block of shops including a beauty salon, a Chinese takeaway restaurant and an online recycled high-end clothing boutique has gone on the market.

The land and buildings housing three Glenholme shops, separated above in red outline, are on the market. Photo/supplied

The freehold property at 193 Ranolf St in Glenholme contains a 170sq m building on 348sq m of land and houses Extreme Beauty, Uncle Lee's Takeaways and Borrow a Dress Boutique.

Combined, the three tenancies generate an annual income of $28,103 plus GST.

The land and buildings will be auctioned through Bayleys Rotorua on July 20.

Saleswoman Brei Gudsell said Glenholme's retail strip was consistently busy.

She said with three separate retail tenancies, the Glenholme block - which had been owned by the same family for the past 40 years - offered a split-risk investment opportunity.