The property at 2 Seymour St, Paeroa, is 'world famous in New Zealand'. Photo / Supplied
The property at 2 Seymour St, Paeroa, is 'world famous in New Zealand'. Photo / Supplied
The land and buildings housing one of the most instantly recognisable cafes in New Zealand — featuring a six-metre tall soft drink bottle monument outside its front doors – has been placed on the market for sale.
The L&P (Lemon and Paeroa) Cafe Bar and Brasserie building in the Waikatotownship of Paeroa is located on the town's main arterial route, Seymour St, which is also State Highway Two — linking the southern base of the Bombay Hills and Tauranga.
The freehold property at 2 Seymour St is being marketed for sale at auction at 1pm on June 27, through Bayleys Tauranga. The property features in Bayleys' latest Total Property portfolio magazine out this weekend.
Bayleys Tauranga salespeople Jo Stewart and Brendon Bradley say the property's 444sq m building sits on 2546sq m of land — providing vast amounts of parking spaces for cafe customers' vehicles.
"The landmark property with its large replica six-metre L&P bottle dominating the landscape occupies a high-profile corner site at the northern entrance to Paeroa township," Stewart says.
"The single-storey building has two tenancies — with the anchor tenant being the iconic L&P Café Bar and Brasserie which underwent a stylish and stunning refurbishment in 2015.
"The refurbishment included a new kitchen and cafe dining room fit-out and facilities, which are all owned by the landlord.
"The adjacent tenancy is a retail or office premises which is vacant."
L&P Cafe Bar and Brasserie is one of two tenancies on the property. Photo / Supplied
Cafe operator Cloud 9 Group Ltd has a three-year lease, with a further three-year right of renewal — that generates net rent of $53,352 plus GST. The adjacent vacant space has an estimated annual rent-generating capacity of $19,000 plus GST per annum.
Bradley says the there is sufficient car parking capacity on-site to easily accommodate any new complement of staff who would be working in the currently vacant space within the building.
