Positioned in the heart of the CBD, this prime freehold development opportunity occupies a substantial 1,012sqm site. For over two decades, the property has traded successfully as Cactus Jacks Backpackers and short-term accommodation, a well-known local landmark. With a total floor area of approximately 855.5sqm and valuable Commercial/CBD zoning, this property offers excellent potential for redevelopment or repositioning. The current owners are now ready to pass the torch to the next generation of visionary developers and investors.
Existing Improvements & Income
- Total building area: 855.5sqm across multiple accommodation wings
- Current operation: Social housing and short-term accommodation business
- 24 single and double rooms, managers accommodation, and extensive communal facilities
- Operating geothermal bore (no current permit in place with Bay of Plenty Regional Council)
Development Highlights
- Freehold CBD land – 1,012sqm (more or less)
- Flexible zoning enabling multiple redevelopment pathways
- Geothermal resource potential (subject to consent)
- Existing income stream from operating accommodation business
- Ideal for build-to-rent, boutique hotel, residential apartments, or commercial office development
