Strategic Tauranga Central City Motel Site
60, Harington Street, City Centre, Tauranga
- Proposed Usage
- Hotel & Leisure
- Floor Area
- 1160.00 m²
- Property ID
Asking price plus GST (if any).
INTERNATIONAL TENDERS CLOSE 4PM, THURSDAY 5TH APRIL 2018, 247 CAMERON ROAD, TAURANGA (unless sold prior)
- Substantial single title comprising a 2755m2 City Centre zoned block.
- Strategic high profile site in a highly sought-after investment location.
- Four road frontages including major thoroughfare Cameron Road.
- Huge future potential for multi level redevelopment up to 49 metres.
- Vacant possession options on settlement date of the property from 1st August 2018.
- Options to retain existing uses and land bank with attractive cash flow.
- Close proximity to CBD, waterfront and main arterial routes.
- Rare opportunity to purchase a premium Tauranga CBD position.
The property comprises a 20 unit motel complex, currently trading as Durham Motor Inn. The lease for the motel expires 29th July 2018 which provides numerous options and potential for a new owner. In addition the property includes a vacant commercial office premises with good off-street parking facilities.
Location is the key to this outstanding Tauranga Commercial block that occupies a premium city position with four road frontages to Cameron Road, Harington Street, Durham Street and Hamilton Street. The site offers excellent future redevelopment options that includes a maximum building height of up to 49m above the Moturiki Datum in this City Centre zoned location.
The property is also within close proximity to the Tauranga City Council's 'Heart of the city' redevelopment programme which includes a new civic administration building, surrounding open space and a proposed hotel with conference facilities in the city centre. Durham Street is set to form a vibrant part of the city centre with education at its core and an estimated $6.1m streetscape upgrade.
Astute investors and developers will most certainly recognise the strong attributes this prime property presents with the opportunity to reap the rewards of the current and proposed CBD redevelopment that is revitalizing the Tauranga City Centre. Seldom do commercial blocks of this calibre come to the Tauranga market in such a superb location!