Positioned in the heart of Whakatane's town centre, 12-16 Peace Street presents a substantial income-generating commercial asset. Set on a generous 1,643sqm (more or less) leasehold site, the property is improved by a building of approximately 1,113sqm, offering prominent street frontage, excellent visibility and adjacent public parking. The property is within walking distance of Whakatane town centre, providing convenient access to all local amenities.
This established investment is anchored by two proven tenants: PGG Wrightson, occupying approximately 75% of the building, and Jayne's Wool & Fabric, occupying the remaining 25%. Both tenants are secured on long-term lease agreements, generating a combined net income of $111,789 +GST, providing reliable holding income and strong investment security. The property is held under a Whakatane Harbour ground lease on 14-year perpetual rights or renewal, with the next review in December 2038, giving long-term tenure certainty.
With its central location, strong tenancy profile, secure income and excellent accessibility, this property represents a strategic commercial investment in a tightly held market.
- Prime town centre location with high visibility and strong street frontage
- Substantial site of 1,643sqm (more or less) with a well-utilised 1,113sqm building
- Secure, long-term tenants: PGG Wrightson Limited (75%) and Jayne's Wool & Fabric 2018 Limited (25%).
- Proven income stream of $111,789 +GST net, offering immediate return
- Ground lease in place to Whakatane District Council until December 2038, on 14-year perpetual rights of renewal
- Excellent accessibility with onsite, adjacent and nearby public parking.
A standout opportunity for investors seeking a strategic commercial asset in Whakatane.
