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Listed over 5 years ago

ID#432652

CBD

Tauranga City
Auction
0
0
523
(5,629.52 sq.ft.)
2,192
(23,594.47 sq.ft.)

A Cameron Road trophy

* Please note our Vendors instructions, this property will not be sold prior to Auction.

- Land area: Collective 2,192m2 (approximately) freehold sites held over three titles

- Tenancy: Two tenants returning a net of $190,715.84 (plus GST per annum)

- Zoning: Zoned 'City Centre'

- Opportunity: Ideal for mixed-use redevelopment

This is a rare opportunity to purchase a collective property of scale (three titles) located on Tauranga's 'Golden Mile', Cameron Road, which offers good returns, and a wide range of redevelopment opportunities.

The subject properties are held over three adjoining freehold titles, totalling approximately 2,192m2 of land Zoned 'City Centre'. Situated on the northern side of Cameron Road between Spring Street and Elizabeth Street. The site benefits from its location to major business centres, proximity to current and projected Tauranga CBD Developments, and convenient access to major arterial routes.

The properties are currently fully occupied by two tenants, with the addition of a service lane at the rear of 199-207 Cameron Road owned by the Tauranga City Council, which is leased to the tenant via the property owner. Accordingly, the properties are achieving a total net income of $190,715.84 (plus GST per annum) with vacant possession of the properties from 31st August 2020, unleashing the development potential of the sites.

Tauranga is an area currently enjoying substantial growth and development with large scale projects including the new multi-million-dollar University Campus, expected to open in 2019 coinciding with Student Accommodation; The Farmers Trading Company major redevelopment featuring a mix of Commercial Retail and Residential Apartments, and the new Quest hotel / apartment complex currently under construction.

Given its location, the substantial population growth and the rapidly escalating development of education and service sectors the redevelopment potential could range from mixed use Commercial / apartments to office, retail, or a high-quality hotel or student accommodation. With the current site provisions already providing for a 19 metre building height platform (as per the Tauranga City Plan).

An ideal opportunity to plan your future redevelopment whilst still enjoying passing income.

Keywords

Location

  • Inner City

Property Type

  • Investment

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Agent

Lloyd Davidson

Success Realty Ltd MREINZ

Licensed Real Estate Salesperson (REAA 2008), Member of the REINZ

Lloyd Davidson is a long time Tauranga resident and businessman who brings 35+ years of commercial knowledge, along with transparency, communication and client care that are integral to his philosophy, to the real estate sector when joining Bayleys.

Lloyd is part of Bayleys strong commercial team, based in the Tauranga Central Business District, with a portfolio encompassing commercial and industrial properties throughout the greater Bay of Plenty. His clients benefit from the professional networking links within the Bayleys commercial specialists positioned throughout New Zealand, adding a wealth of experience, knowledge and opportunity to his strong foundation.

Lloyd and Maree Davidson have two adult children and consider themselves fortunate to live in a region where business thrives in line with increasing population and improving infrastructure.

For a commercial real estate professional who backs up his service and advice with relevant business experience call Lloyd Davidson.

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ID#432652

CBD

Tauranga City
Auction
proudly marketed by
Lloyd Davidson
Success Realty Ltd MREINZ
Lloyd
021 949 099
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