A well-located Tauranga CBD building that has been totally transformed through an extensive and carefully curated renovation, blending retro glam character with a modern commercial design that elevates it to one of the city centre’s most compelling assets, is now for sale.
41 Elizabeth Street occupies a prime 564sqm freehold site directly opposite the landmark 38 Elizabeth development, which incorporates the Farmers building and the residential Elizabeth Towers, positioning the property at the heart of one of Tauranga’s most significant areas of urban transformation.
The two-level building comprises 852sqm of net lettable area across two levels, supported by eight covered onsite car parks, and carries an A-Grade seismic rating of 90 percent NBS.
Owned by a local developer who recognised the opportunity to revitalise the structure and deliver something exceptional, the building is now a contemporary commercial showpiece with a distinctive architectural identity.
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Clad in variegated green porcelain brick shaped tile and finished with frameless curved glass to the corner, the design by Architecture F+D=A has been executed through a full refurbishment and interior fitout by Marra Construction.
The building’s flexible layout now supports a mix of open-plan and partitioned office spaces, high natural light, premium amenities and a rear deck with glass balustrade.
Anchored by three national tenants, with the leases facilitated by Bayleys, the investment fundamentals are strong.
Engineering consultancy Vitruvius occupies the first floor, Heartland Bank holds the street-level tenancy, and law firm Meredith Connell occupies the private rear tenancy.
Together they return total annual net income of $427,216 plus GST and outgoings, with all leases having market and CPI-linked rent reviews, and rights of renewal with final expiries ranging from 2035-2042.
The property is for sale by deadline private treaty closing 4pm Thursday 22nd October, unless sold prior, through Lynn Bradley, Brendon Bradley, and Ryan Bradley of Bayleys Tauranga.
The comprehensive refurbishment programme has elevated the building into an exclusive commercial environment that combines personality with performance, says Lynn Bradley.
“It delivers a highly sophisticated business setting that feels both modern and character-rich with the design intent visible throughout.
“The curved glass corner and the green tile cladding give the building a unique identity that stands out in the CBD and the interior fitout has been equally considered.
“Every level has been designed to support leading businesses with light, functionality and a sense of professionalism.”
As Tauranga continues to evolve and major investment reshapes the wider precinct, this position has become one of the most strategic in the city, says Brendon Bradley.
“Elizabeth Street is the darling of the CBD with a vibrancy that continues to grow. Being directly opposite the new Farmers complex places this property in what is arguably the city’s premier box seat position.
“The return of corporates and institutions to the CBD is strengthening its role as the region’s commercial and civic hub. Recent and current projects include the Tauranga City Council offices, Craigs Investment Partners on Devonport Road, The Northern Quarter on The Strand, Panorama Towers on Hamilton Street and the new Tauranga Courthouse on McLean Street.
“This property’s architectural character, modernised functionality and secure tenancy profile positions the asset at the top of Tauranga’s metropolitan offerings.”
- Supplied by Bayleys
