33 Main Street, Blenheim

Strategically located on SH1 Main Street with a second road frontage on Park Terrace, only 200m from New World supermarket and 500m from Blenheim Central Post Office, this 1,012 sqm plot of prime industrial land will always be valuable. Currently, Koanui Lodge provides compliant accommodation for up to 44 seasonal workers and last financial year resulted in an EBITDA of 10 percent of the asking price. Recently a resource consent has been granted for a development delivering a total of 80 beds. Established buildings on the site include the original converted villa, a newer two-storey purpose-built accommodation block and a separate managers flat. With a healthy return on investment, potential for development and ability to be contract managed, this property is a valuable addition to any portfolio.