An extensively renovated commercial building in Mount Maunganui is being offered to the market for sale, giving buyers the opportunity to acquire a large foothold in one of New Zealand’s most sought-after seaside locations.
Sitting at 249 Maunganui Road, the multi-level property has 1,325sq m of floor area on a 1,331sq m freehold site.
Following the recent refurbishment, the building has been configured to accommodate a range of tenancies and can cater to retail, hospitality, and office occupiers.
There is also an exclusive apartment on the top floor with elevated views.
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The subject property’s central location in the heart of the prime retail strip means it is only 1.2km from the main beach at the Mount and is surrounded by a vibrant mix of hospitality and boutique retail premises.
The building includes a lift, rear service lane access, and ample covered and uncovered on-site parking, giving future tenants high levels of convenience.
Just a short stroll from the beach, Pilot Bay, and the popular Mount walking tracks, the location of this property is a major selling point.
The park and cruise ship terminal is also over the road.
The zoning of the property permits a building height of 22m, meaning there is future growth potential.
Colliers Tauranga Brokers Simon Clark and Duncan Woodhouse have been exclusively appointed to market the property for sale via auction to be held at the Hotel Mercure (formerly Armitage) on 28 Brown Street, Tauranga at 11am on Thursday 4 June, unless sold prior.
The ground level spans approximately 425sq m and offers a premium position with prominent street frontage.
This open plan retail area can be split into multiple tenancies and will benefit from steady levels of local foot traffic.
Level 1 offers office suites ranging from 100sq m to 200sq m with flexibility for large spaces if required.
Level 2 features a single office of 112sq m and would be perfect for a boutique operation or professional workspace.
Clark, Managing Director at Colliers Tauranga, says the wait is over for buyers who have been seeking a chance to purchase a commercial asset in Mount Maunganui.
“We have a motivated vendor that is keen to see this property change hands. Given it is sitting vacant it is available for immediate occupation meaning the new owner can act quickly,” Clark says.
“Properties in this area of Mount Maunganui are scarcely available, particularly with such a large freehold site and substantial building, making this one of the most compelling purchasing opportunities we will bring to the open market this year.
“Following the recent works, it now presents as an A-grade asset and warrants serious consideration from buyers.”
Maunganui Road offers accessible connections to State Highway 2, Tauranga city, and the busy Hewletts Road.
Woodhouse, Commercial Sales Broker at Colliers Tauranga, says buyers can purchase an asset that offers immediate flexibility and considerable long-term upside.
“The high rise zoning presents future possibilities for the new owner to intensify the usage of the site and enhance its overall value, capitalising on its premier address,” Woodhouse says.
“The new owner could occupy either the apartment or a commercial tenancy and lease various parts of the building to generate rental income or lease the entire asset.”
- Supplied by Colliers
