An opportunity to acquire a strategically located commercial building in the heart of Tauranga’s revitalising city centre offers investors a prime chance to add value and reap the rewards of local redevelopment.
The three-level property totalling 1,486sqm (more or less) at 146A Durham Street – near the Waikato University’s Tauranga campus - is in the City Centre Business Zone, with a seismic assessment of 100 percent of New Building Standard (NBS).
Bayleys Tauranga salesperson Brendon Bradley says it is offered with vacant possession, representing a blank canvas for investors eager to unlock its potential by refurbishing the existing structure for multi-tenant occupation or exploring mixed-use development opportunities.
“The location is undoubtedly the star of the show – as the premises are situated within Tauranga’s sought-after education hub, with high visibility and exposure to passing foot traffic, which is an attractive feature for future leasing prospects.
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“Durham Street has become a focal point for development and investment as part of Tauranga City’s broader urban regeneration plans. With its expansive frontage, the subject property is positioned to benefit from a projected increase in student, professional, and business activity.”
Bradley is marketing the property for sale by deadline, closing at 4:00 pm on Thursday, 31st October (unless sold prior) with Bayleys colleagues Lynn Bradley and Ryan Bradley.
The property, located near the intersection with Elizabeth Street, gains dual access via a service lane on its eastern boundary with stacked car parking on-site.
Bayleys Tauranga salespeople Ryan and Lynn Bradley say it features self-contained commercial accommodation capable of sustaining independent tenants for a split-risk investment opportunity.
“The building’s large floor area and flexible layout, coupled with a prime location, make it a compelling proposition for buyers looking to breathe new life into the property. There is potential to modernise and refurbish the space, offering the chance to reposition it as a premier office or mixed-use facility in an evolving urban environment.”
Consented plans to upgrade the front façade of the building together with renders of the proposed finish are available to prospective purchasers.
The basement level provides nearly 370sqm of partitioned offices and amenities, plus an internally accessible garage with roller doors. The ground floor features a 477sqm (more or less) mix of partitioned and open-plan offices and 484sqm (more or less) of first-floor office space.
“All levels gain access from front and rear stairwells and an internal lift. The building’s ground floor features extensive glazing, allowing abundant natural light. This level also opens into a central courtyard - an attractive feature that can be utilised for breaks and client interactions. Basement car parking and storage add further value to the asset.”
The brokers say that the location on Durham Street stands to significantly benefit from recent investment into the immediate area as part of the Te Manawataki O Te Papa-Heartbeat of Te Papa civic precinct revitalisation.
“This includes new public spaces, improved infrastructure, and a shift towards higher-density urban living, making the premises ideal candidates for refurbishment or conversion into a multi-use facility that can cater to the growing demand for flexible office space or alternative uses.
“This property ticks all the boxes for investors keyed into future growth prospects, with vacant possession meaning it is available for immediate use or redevelopment, giving a new owner the flexibility to adapt the space to suit a range of purposes. As the city centre continues its transformation, opportunities like this – combining a prime location, solid connections, and add-value potential – are an increasingly enticing investment prospect,” they say.
- Supplied by Bayleys
