A substantial commercial and recreational landholding hub in one of New Zealand’s most popular coastal townships is on the market.
The block in Whangamata on the Coromandel Peninsula comprises four equally sized individual land titles of 713-square metres – combing to sustain a flat site of 2,852-square metres of freehold land near the town centre.
The rectangular-shaped site is currently configured to sustain three separate activities – one of which is empty, and the other which only operates for one week a year.
One side of the location houses the Whanga Putter 18-hole mini golf course which includes trick shot holes with astroturf grass on a concrete base set amidst bushy vegetation.
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The Whanga Putter leisure business is currently running its golfing operations from the astroturf greens on a short-term rental agreement - with the potential of either continuing on, or exiting, at short notice.
The middle of the property contains a vacant two-storey commercial office or retail premises previously tenanted by the Whangamata franchise of national builder Jennian Homes. The standard-shaped concrete block building has been empty since earlier this year when Jennian Homes moved to another site in town.
The third portion of the block remains vacant for most of the year – however, the site is utilised as a corporate-themed hospitality venue by automotive retailer Repco as the main sponsor of the famed Whangamata Beach Hop car festival.
During the annual five-day celebration of classic cars, caravans, and motorbikes, the site is occupied by a large hospitality marquee serving food and beverages, and is surrounded by dozens of wooden picnic tables and guest socialising areas.
The block of land located at 624-630 Port Road, along with its buildings, and business infrastructure is now being jointly marketed for sale by negotiation through Bayleys Whangamata and Bayleys Tauranga.
Salespeople Josh Smith, Chris Bayley and Lloyd Davidson said the front of the property enjoyed approximately 64-square metres of frontage onto the busy Port Road, which is Whangamata’s main street, while the rear of the property had the added benefit of being a service lane.
“The property is situated close to Whangamata’s most prominent roundabout – which is familiar to locals and visitors as a key location for the annual Repco Beach Hop parade,” Smith said. “Repco hosts events on the site for customers and suppliers – turning it into a high-profile hospitality zone.
“Whangamata’s reputation as one of New Zealand’s premier beach towns keeps people coming back. The town’s location, fringing the ‘Golden Triangle’ of Auckland, Hamilton, and Tauranga, gives it ready access to the country’s largest concentrated population catchment.”
Smith said the mini golf facility, and the vacant commercial building when tenanted would deliver a dual stream holding income to any new owner. Redevelopment plans have already been discussed with Thames District Council.
Smith said the most likely development configurations for the Port Road block would be either a mixed-use retail and private accommodation structure with shops at street level and residential apartments above, or a mid-range commercial accommodation provider operating a boutique style hotel similar in style to the Quest accommodation chain.
“The location overlooking Whangamata’s main street would obviously be a high-demand location during summer – and particularly during Beach Hop week. The service lane at rear of the site would clearly allow for premium and secure guest parking,” he said.
The long-term prosperity of Whangamata and its surrounds is highlighted in the Thames-Coromandel Population Projections 2018-2051 report prepared by economics analysis firm Infometrics for Thames Coromandel District Council.
Infometrics’ demographic analysis and population forecast noted: “A steady population is projected in Whangamata and Thames. Population growth in Whangamata is largely constrained by development capacity.”
Smith said the development potential for 624-630 Port Road would go some way to creating the necessary urban infrastructure to underpin the town’s long-term viability.
Smith said that while the Coromandel region has endured some unprecedented challenges as a result of the destructive weather events of earlier this year, Whangamata’s local economy has remained generally resilient as the result of roading access remaining open.
“While Whangamata’s economic activity is undeniably down on previous summers, the town is well poised to recover quickly. The showcase crowd pulling Beach Hop and other tourism events – such as the upcoming Wild Women’s Weekend in May featuring golfing, entertainment, and physical wellness activities – underpin a strong domestic visitor sector,” he said.
- Article supplied by Bayleys
