A fully tenanted commercial asset in the heart of Mount Maunganui’s bustling retail and hospitality precinct presents a ‘shore bet’ for investors seeking secure, split-risk returns in a blue-chip coastal location.

Bayleys Tauranga brokers Brendon Bradley and Lynn Bradley, together with Duncan Woodhouse from Colliers Tauranga, are marketing the property at 197 Maunganui Road for sale by deadline, closing at 4:00 pm on Thursday, 13th March 2025 (unless sold prior).

Brendon Bradley says that the 1,877sqm (more or less) freehold site stands out in one of New Zealand’s premier beachside locations, offering instant income and long-term growth in a tightly held market.

“Generating a net annual income of $434,318 plus GST and outgoings, the property presents an attractive yield in a market where quality tenanted investments remain in high demand. The mix of long-term lease agreements, built-in rent reviews, and renewal rights offers investors stability and potential for future rental growth.

“Anchored by a diverse mix of six established retailers and a first-floor office tenancy, the property delivers strong rental covenants and a secure split-risk income stream from occupants, including global beachwear giant Tommy Bahama and leading home builder Platinum Homes.”

The dual-access property features a two-level building with a total lettable area of approximately 1,043sqm and an A-grade seismic assessment.

A large rear car park, accessible via Shadelands Lane, further enhances the appeal, providing 42 dedicated spaces for tenants and customers. “Investors may explore the possibility of utilising the airspace above the car park to add further value,” Lynn Bradley says.

“For investors playing the long game, the potential is enhanced by its Commercial Business zoning and growth promise as a multi-level redevelopment, which could incorporate a blend of ground-floor retail, upper-level offices and residential apartments,” she says.

The brokers highlight the property’s rewarding location, positioned moments from Mount Maunganui’s renowned surf beach, scenic Pilot Bay, and the busy Mount Wharf, where cruise ships dock throughout the year.

“Consistent foot traffic from locals and a seasonal influx of national and international tourists reinforce its status as a prime commercial hub and sought-after tenant destination,” Duncan Woodhouse explains.

“The surrounding area is home to a diverse mix of boutique retailers, hospitality venues and service providers, enhancing the desirability of the location for tenants and investors. “The property’s strategic position at the gateway to Mount Maunganui’s ‘Golden Mile’ - which has arguably become New Zealand’s elite boutique retail hub - ensures high visibility and sustained demand for retail space.

“Being one of the few premium investment opportunities to come to market in Mount Maunganui in over four decades, the property presents a generational asset with long-term capital appreciation potential.

“Its high-profile location, secure income stream, and scope to add value via future development make it a standout opportunity for investors seeking to leverage demand fundamentals to anchor their portfolio with a premium commercial acquisition.”