An opportunity to purchase a corner site on one of Taupo’s busiest arterial roads.
137 Spa Road is a freehold site on the corner of Spa Road and Kaimanawa Street, directly opposite Taupo-nui-a-Tia College. On the c,860m² site is a c.130m² house currently leased on a month-by-month tenancy at approximately $500 per week ($26,000 pa) plus GST.
The site’s location and size makes it attractive for a redevelopment to benefit from its special zoning, which is Spa Road Mixed Use Environment. This zoning is to enable the transition of the area from its traditional residential character to a range of business uses, recognising Spa Road as a Regional Arterial Route. The Rules and Standards for this zone allow, among other things, for a maximum building coverage of 50% of the site, and a maximum plot ratio of 100%, thereby substantially exceeding the coverage ratios of the adjoining Residential Environment zone.
Spa Road has undergone a considerable transition over the past 10 years, with recent developments trending towards commercial, rather than residential use. This very high-profile site provides an outstanding opportunity to add to the changing Spa Road landscape, while enjoying a useful rental income in the interim.
Businesses in the vicinity include Ingham Taupo – Kia | Mitsubishi, Honda Store Taupo | Suzuki, Tomo’s Saws & Mowers | Embra Restaurant | Hyundai Taupo | The Merchant | Salvation Army Store | BedsRus.
This property offers an opportunity to acquire a strategic freehold site with attractive holding income.
Call Hugh on 021 901 390 or Michael on 027 826 2750 for more information.
Features:
• 860m2 land area
• 130m2 home currently leased
• Directly opposite Taupo-nui-a-Tia College
• A 2 minute drive to Taupo’s town centre
• Current rental income c.$500 per week.
• Spa Road Mixed Use Environment zone.
More information: https://www.colliers.co.nz/p-NZL67037087
