This unique, high-profile city fringe location presents an exceptional opportunity for office owner occupiers or developers.
You can acquire a large freehold portion of land, complete with a substantial office building and with a short term rental income to give you time to plan what you want to do.
There is also the option to purchase the adjoining 40 Brown Street to give you real scale. The new owner can choose to occupy or lease these character office spaces with ample onsite car parking, benefiting from the longer term capital growth of the underlying land. Alternatively, you can take immediate advantage of the new City Living zoning which allows high density housing up to a height of 20m and plan a new development on the site.
Make the most of this premium location which offers stunning views as you build up on the site but also boosts peaceful parklike surroundings framed by the majestic Pohutukawa trees on the road frontage.
To view 40 Brown Street: colliers.co.nz/p-NZL67031811
Features:
* Substantial freehold site: 974m²
* Floor area: 318m²
* Net rental: $112,990 p.a + GST (if any)
* Lease expires December 2025
* City living mixed use zone under the Tauranga city plan - 20m height allowed
* Prime CBD fringe location
* Adjoining 40 Brown Street available also
* Ample onsite car parking
* Suitable conversion back to residential
* High profile site
