Richmond Property With Distinctive Flavour

For immediate use – April 8 2008

Richmond Property With Distinctive Flavour

A Richmond property which is home to two businesses much loved by Christchurch foodies is on the market.

Bahn Thai Restaurant Limited and Ma and Pa’s Bakery are successful businesses with a dedicated following of primarily local patronage.

Marketing agent Glen Steele of Simes says both businesses are well-established and there to stay.

“Bahn Thai has been there for about 20 years and was one of the first Thai restaurants in Christchurch,” he says.

“Ma and Pa’s Bakery is a popular bakery which has also opened a small courtyard at the back, so people can sit and eat their treats with a cup of coffee.

“The property at 319 Stanmore Road is being sold as a fully leased investment, zero rated as a going concern.

Both tenants are one month into five-year leases, with right of renewal after that.”

Mr Steele says this property is a very sound investment – it’s fully leased to established long-term tenants who pay all the standard building outgoings. He says the building is modern and requires little maintenance, so is an
easily managed investment.

The property is for sale, with tenants, for $699,000.

ENDS –

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