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Life’s a beach at this unique Mount Maunganui property

Lifes a beach at this unique Mount Maunganui property

A high-profile corner site with a large landholding near a popular beach in one of New Zealand’s fastest growing regions will hold great appeal to a range of buyers given the future potential on offer.

209 Valley Road in Mount Maunganui comprises seven one-bedroom units and a three-bedroom house, providing a total floor area of 520sq m on a prominent freehold 1,561sq m section.

The site was formerly a motel, but the seven units and the three-bedroom house are currently leased individually to residential tenants and return approximately $191,000 per year in total gross rental income.

The property is zoned Residential and has the potential to be subdivided into seven to 10 lots, pending resource consent.

Colliers Brokers Simon Clark and Grant White have been exclusively appointed to market the property for sale by deadline private treaty closing at 4pm on Thursday 16 September, unless sold prior.

Clark, Managing Director at Colliers Tauranga, expects this property, which is on the corner of Valley Road and McDowell Street, to draw huge interest given the excellent location that offers nearly 100m of road frontage.

“This is a highly visible site in a unique location that is only 300m from the beautiful Omanu Beach, which is a popular spot, and will serve as a strong drawcard for the new owner,” Clark says.

“Each unit has an individual car park and the access to the property is excellent, providing another level of convenience.”

Data from Infometrics suggests the Bay of Plenty economy has continued to perform incredibly well following the Covid-19 lockdown period in 2020. Infometrics estimates that economic activity in the year to June 2021 is sitting 6.8 per cent higher than a year ago.

This rise compares to a growth rate of 4.2 per cent across the country, showing the Bay of Plenty’s strength. Activity in the year to June 2021 is sitting 5.7 per cent higher than the same period in 2019, showing that despite lockdown inflating current annual growth figures, the Bay of Plenty economy is still in a very strong position.

White, Commercial Sales Broker at Colliers Tauranga, says this property will give buyers the chance to acquire a prime location in one of the country’s key growth regions.

“The opportunities for the new owners of this property are quite broad and will appeal to a multitude of potential buyers and investors looking at residential rental income or developers of medium-to-high density residential housing in this prime beachside location,” White says.

“The first option will be to continue renting out each unit on a long-term basis to enjoy the strong rental returns and look for further capital appreciation in this large site.

“The second potential option for the new owner would be to redevelop the site into seven to 10 high-quality residential terraced or standalone houses while utilising the rental income during planning and applying for all consents before construction starts.”

The 2018 Census data shows that the Bay of Plenty is the second-fastest-growing region in New Zealand. Between 2013 and 2018 the region's population grew 15.2 per cent to 308,499 and was outshone only by Northland, which was up 18.1 per cent.

The number of people living in the wider Western Bay of Plenty increased by just over 7,600, with the district's population reaching 51,321, up 17.5 per cent since 2013.


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Simon Clark

Managing Director

Tauranga

Simon is the managing director of the Colliers Tauranga office. With over 28 years in the industry, he is the most experienced and successful commercial broker in the region. He specialises in the sale of commercial and industrial investments as well as the lease of industrial properties. Throughout his long career, Simon has negotiated the majority of the largest transactions  in his chosen market and has delivered in excess of $1 billion in sales.

Simon works closely with other Colliers branches around New Zealand and in Australia to ensure that local investment listings have the best possible exposure nationally and internationally. He also has an extensive local  network including close relationships with private, corporate, Iwi and syndicator investors who come to him for his vast market knowledge and  to ensure they will find the best investment opportunities.

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Grant White

Commercial Sales

Tauranga

I started working in commercial real estate in 1992 after 20 plus years working in the travel industry. With my experience, I have established myself in motel broking and business/property sales around the Bay of Plenty and Waikato region. This involvement has covered leases, freehold going concerns, freehold investments, setting up new motels, design and build programs. Within nineteen years, I have achieved sales in excess of $100 million. I am also a member of the NZ Institute of Travel and hold a  Level 3 Travel Management Qualification. MNZIT Level 1,2,3

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