The land and buildings of a prominent mixed-use offering in the Bay of Islands are available for purchase, giving buyers the opportunity to acquire a significant stake in one of New Zealand’s most recognisable tourist destinations.
The property at 1 Williams Road and 68 Marsden Road, Paihia, is known as Paihia Lanes and sits on a premier corner site directly opposite the commercial wharf.
Spread across two freehold titles, this retail and hospitality complex is prominently positioned in the heart of the town’s tourism, dining, and entertainment precinct.
Prospective purchasers have the opportunity to buy one or both titles.
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The property has 14 individual tenancies that range from approximately 10sq m to 258sq m, giving the new owner a diversified income stream.
The location's appeal is reflected in strong tenant demand, long-term occupancy patterns, and historically low vacancy levels.
The asset, which has a total net lettable area of 1,010sq m, returns $793,232 plus GST in net annual rental income and has a weighted average lease term of five years, providing consistent cashflow and a long-term income stream.
Paihia is approximately three hours north of Auckland.
Colliers Directors Megan McGregor, Josh Coburn, and Blair Peterken have been exclusively appointed to market the property for sale and are taking expressions of interest closing at 3pm on Thursday 10 December, unless sold prior.
There are seven individual tenancies in each freehold title and the net annual rental income from 68 Marsden Road is $397,673 plus GST, while 1 Williams Road returns $395,559 plus GST.
There is a range of hospitality, retail, and tourism-related occupants across the property, with well-known local providers and international brands such as Rip Curl.
McGregor, Director at Colliers Whangarei, says purchasing opportunities like this one are notably scarce, with commercial assets in Paihia rarely coming to the open market.
“This is a landmark commercial holding that benefits from exceptional visibility, high foot traffic numbers, and a commanding waterfront presence in one of the country’s most picturesque visitor destinations,” McGregor says.
“The diversified income stream will draw the attention of buyers, and the property sits at the gateway to the Bay of Islands, which attracts thousands of visitors every year.
“The property provides strong rental growth provisions across the occupants.”
Paihia is approximately 2.3km from the Waitangi Treaty Grounds, while Russell can be reached via the passenger ferry.
The subject property is located near a range of key local amenities, including schools, tourist accommodation, a major bus stop, and the ferry terminal.
Coburn, Director of Site Sales & Capital Markets at Colliers, says Paihia is a popular coastal destination known for its vibrant mix of hospitality, retail, and recreational amenities.
“The property enjoys excellent accessibility and exposure in a highly visible waterfront location,” Coburn says.
“The Bay of Islands is well established as a sought-after destination for tourists, and there were 1.75 million total guest nights recorded in the Northland region in the year to December 2025, according to data from Infometrics.”
Peterken, Director of Capital Markets at Colliers, says when considering all of the key factors, Paihia Lanes represents a strategic investment opportunity that will catch the eye of buyers.
“With its attractive combination of location, steady rental stream, and future income growth, this asset is one that purchasers will be drawn to,” Peterken says.
“Given buyers can acquire one title or both, there is flexibility on offer.”
- Supplied by Colliers
