A rare freehold commercial development site for sale in the centre of fast-growing Whakatāne is expected to attract wide interest from developers, occupiers and investors.
Positioned in the heart of the town centre, handy to vital amenities and arterial routes, the site was formerly home to a building housing the Beacon Printing and Publishing Company, publisher of the Bay of Plenty Beacon (now Whakatāne Beacon).
Now mostly vacant land, the more than 2,800-square-metre site’s scale, business-friendly zoning and a remaining building present a range of future options to buyers.
The corner site offers outstanding profile with extensive triple frontage to the main retail strip on The Strand, plus Wairere Street and Clifton Road. This assures prominent exposure to significant vehicle and foot traffic.
The property is now being tipped for possible development with accommodation, retail or office space catering to an acknowledged lack of A-grade commercial premises in the town.
An existing building on part of the site is leased to well-known local boating and outdoors supply store Sea Marine, generating a gross rental return of $59,198 plus GST per annum. The store is an agent for leading marine brands and a supplier of products and services for Mercury and Honda.
The property at 47-53 The Strand and 2 Wairere Street, Whakatāne, is being marketed for sale through Larissa Reid of Bayleys Whakatāne.
The site is being sold by way of a tender closing on Wednesday 28 June, unless it is sold earlier.
Reid said some 2,820 square metres of land was on offer across seven freehold titles.
The property sits within the Business Centre zone under the Whakatāne District Plan, with existing business activities deemed permitted activities within this zone.
“Positioned on the town’s main retail strip, and a short walk from Whakatāne’s riverside walkway, the site’s possibilities are underpinned by its desirable town centre location,” Reid said.
The immediate surroundings are home to a concentration of hotels, restaurants and bars, along with offices and retailers. Major local employer Bay of Plenty Regional Council’s headquarters and the Whakatāne i-SITE Visitor Information Centre are a short distance away.
Reid said the property’s buyer appeal would be bolstered by growing recognition of Whakatāne’s attractiveness as a place to invest and do business.
“With a population of around 20,000, Whakatāne is the major service and administrative hub for the Eastern Bay of Plenty. It sits in the heart of a diverse and buoyant regional economy, with strengths in tourism, dairy, forestry and horticulture.
“The town is well served with excellent air, rail and road links, and lies less than 100 kilometres from Rotorua and Tauranga and within easy reach of half of New Zealand’s population,” said Reid.