This landmark property occupies a prominent corner site in Whakatane’s CBD, providing exceptional exposure and a strategic location for its tenants. An additional title on Pyne Street, also within the CBD zoning, complements the main site by offering valuable on-site parking and potential for future development. The four-level building is fully leased to three tenants and has a strong history of occupancy. Its premium location, combined with on-site parking, ensures long-term flexibility. Surrounding properties are predominantly occupied by government and medical services, further enhancing the area’s appeal.
The property boasts an 80% NBS rating following recent seismic strengthening, and the internal lift has been replaced. The current owners have maintained the building to a high standard, supported by quality tenants who share the same level of care. Future development opportunities exist on the main site, while the additional Pyne Street title offers scope for development or resale. With CBD zoning allowing a wide range of activities and high site coverage, this property presents exceptional potential for growth and diversification.
Features:
- Building area: 3,420m²
- Land area: 2,036m² + 669m²
- Current net rental: $718,169.30 + GST
- Landmark buildings
- NBS rating of 80% (upgraded in 2015)
- Multiple strong tenants
- Development opportunity
- 2 titles
More information: https://www.colliers.co.nz/p-NZL67035580
