A destination retail development, inner-city apartment complex or landmark mixed-use project are among possibilities mooted for a prime Whanganui site now up for sale.
The nearly 1.6-hectare landholding fronting Taupo Quay sits a few minutes walk from the city centre, on the southern edge of an established retail precinct housing numerous big-brand stores.
Currently home to a collection of older buildings which have in recent years housed various automotive/machinery related businesses and other users, the site is being offered for sale with vacant possession.
“The overwhelming attraction of this landholding is as a prime development site, whose flexible commercial zoning lends itself to a myriad of possibilities – underpinned by a strategic location in the heart of Whanganui,” said Bayleys salesperson John Bartley.
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“It could have the makings of a large-format retail project, or other destination retail development.
"This could form a natural southward extension of a riverside retail precinct that’s already home to the likes of Bunnings, The Warehouse, a Woolworths supermarket, and the Trafalgar Square Shopping Centre.
“Alternatively, developers with an eye to the city’s housing shortage could consider bringing an apartment development to the heart of Whanganui, perhaps with retail at ground level.
“The land for sale spans four titles, adding further to flexibility and the potential to pursue and combine these and other options, subject to any required planning approvals,” Bartley said.
The freehold property at 144 and 152 Taupo Quay, and 159 Ridgway Street, Whanganui, is being marketed for sale by Bartley and colleague Amie Rowan of Bayleys Whanganui.
The site will be sold by way of a tender closing on Wednesday 10 July, unless it is sold earlier.
The approximately 15,879-square-metre landholding currently contains multiple buildings with a combined floor area of some 5,826 square metres, along with 36 car parks.
Zoned Commercial (8B) under the Whanganui District Plan, the land forms part of the city’s outer commercial zone.
Rowan said permitted activities at this location included retail, commercial and residential uses, along with industrial activities, or the likes of community or educational facilities.
“This prime multi-use site is ready for a forward-thinking developer to create something special in central Whanganui. The flat, strategically located land with extensive frontage to Taupo Quay is ideal for developers or investors seeking a potentially high-return project.
“The location offers the height of convenience being a short walk from the Victoria Avenue main-street retail and hospitality strip, a few hundred metres from the Trafalgar Square Shopping Centre, and just across the road from the Whanganui River and its walkways.
“Proximity to rail links as well as State Highway 3 and State Highway 4 assures future users of seamless logistics and transportation,” Rowan said.
- Supplied by Bayleys
