A substantial block of under-utilised commercially zoned land in the middle of Whitianga has been placed on the market.
The corner site property in the Coromandel Peninsula town consists of an approximately 2,861-square metre landholding, with a modest three-bedroom home in the middle of the property.
Located on the corner of Mary and Campbell streets, the property is immediately adjacent to the Mercury Bay Club hospitality venue which uses some of the property for patron parking.
It is surrounded on other sides by retail and light industrial premises including a supermarket, hardware and homeware stores, and several motor vehicle repair and maintenance garages.
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The versatile site is just a few hundred metres off the town’s main shopping strip along Albert Street, while boat launching amenities onto the estuary and Whitianga Marina are located at the end of Campbell Street.
The freehold flat land and residential dwelling at 27 Campbell Street in Whitianga are for sale through deadline with Bayleys Whitianga, with offers closing on August 20.
Salesperson Josh Smith said that with its commercial zoning, the address offered a huge range of redevelopment options, underpinned by the ability for any new owner to draw holding income from the comfortable residential home on site while development plans were lodged with the council.
“The rectangular-shaped site offers so much – being in Whitianga’s central business district, receiving solid vehicle and foot traffic exposure along Campbell Street, and having minimal structures currently in place,” said Smith.
“It has already been suggested that subject to council approvals, the site could easily sustain a low-rise multi-level mixed-use style premises encompassing boutique retail units at street level, with the likes of a three or four-star commercial accommodation provider operating suites on the floors above.
"The location’s proximity to Whitianga’s hospitality outlets along the estuary foreshore make it a prime venue for guests staying in town.
"Alternative commercial uses for the site could also include a purpose-built, terraced style, light industrial hub of tradie tenant units around 200 square metres in size.
"Commercial land is scarce in the town centre precinct, so subdividing the Campbell Street site into smaller parcels would certainly fill that demand gap.”
The Campbell Street/Mary Street location sits on the edge of Whitianga’s pedestrian core zone which allows for 80 percent site coverage and a build height of up to 12 metres and contains some of the town’s most visually appealing commercial and mixed-used properties.
Over the past decade, Whitianga has grown to become New Zealand’s foremost big game fishing destination – with bountiful billfish found off its shores, and anglers coming from within the country and abroad to partake in the recreational activity.
Demographic data in Thames Coromandel District Council’s 2018-2028 Long Term Plan showcases Whitianga’s prominence in the region – spotlighting that Whitianga is one of two towns in the province to experience the biggest growth in the number of homes being built. The other township is Tairua.
“The projected dwelling and rating unit growth rate (for Whitianga) is higher than population projections due to the on-going growth in holiday homes. Mercury Bay (which includes Whitianga) is projected to experience the greatest growth in population,” the statistics-based council report noted.
“The number of houses is projected to increase across all parts of the district over the next 30 years - with an increase of around 3,580 new houses between 2018 and 2048. Much of the projected growth in the number of houses is expected to occur in the Peninsula’s popular holiday settlements – Tairua and Whitianga.”
Smith said that with Whitianga’s population continuing to grow steadily, there was also a parallel need for growing the district’s commercial property infrastructure – particularly to support the residential construction sector amongst builders, electricians, plumbers, plasterers/tiler, and painters, all of which could utilise the tradie style units mooted for 27 Campbell Street.
- Supplied by Bayleys
