Tauranga industrial site for sale

A large Tauranga industrial property with five wide-ranging tenants is up for sale, offering buyers an attractive diversified income plus future redevelopment potential.

The Maleme Street site lies in the heart of the Greerton industrial stronghold, known for its perennially low vacancy rates and high rental demand.

The versatile building contains eight tenancies with a combined floor area of over 1,800 square metres. These are fully leased to five diverse businesses – encompassing a truck and machinery supplier, a kitchen remodelling firm, a maker of wool products, and an auto air conditioning and transport refrigeration specialist.

Anchor tenant NZ Surplus Trucks, a Tauranga-based trader of used trucks and heavy equipment throughout New Zealand, occupies three tenancies spanning more than 725 square metres.

The property generates a combined net rental return from the five tenants of $219,099 plus outgoings and GST per annum.

The approximately 1,878-square-metre building is underpinned by a freehold landholding of some 4,642 square metres with onsite parking for 40-plus vehicles.

This property at 61 Maleme Street, Greerton, Tauranga, is being offered for sale through Rory Brown and James Ross of Bayleys Tauranga. It will be sold by deadline private treaty closing on Thursday 11 December, unless sold prior.

“The diversified income from multiple tenants will appeal strongly to buyers seeking a stable, hands-off investment,” Brown said.

“With the recent reduction in the OCR and a softening in bank deposit returns, the current environment presents an opportune time for investors to allocate capital into quality commercial property assets.

“There are also attractive possibilities for new owners to land bank or to plan for future redevelopment to unlock the site’s full potential, while benefitting from a substantial holding income,” Brown said.

The site’s Industry zoning under the Tauranga City Plan generally allows buildings up to a height of 16 metres, accommodating a variety of uses ranging from industrial activities to trade and yard-based supplies, and ancillary retail and offices.

Brown said the existing building layout provides excellent functionality for a diverse tenant mix.

“Drive-round accessibility enables maximum use of the site and makes it particularly well-suited to a range of light industrial and logistics businesses. The property and business tenants enjoy a good profile thanks to more than 50 metres of frontage to Maleme Street,” he said.

Ross said the high-demand location was another key selling point.

“Greerton is one of the first established industrial/light industrial areas in Tauranga. Surrounded by established national and international occupiers, this location attracts a strong mix of occupiers, supporting consistently high occupant demand and low vacancy – underpinned by Tauranga’s ongoing expansion as a logistics and manufacturing hub.

“Maleme Street connects to major arterial routes, including State Highway 29 (and 29A). This provides seamless links to the Port of Tauranga and Mount Maunganui, along with State Highway 36 to Rotorua, and to the wider ‘Golden Triangle’ linking Tauranga, Hamilton and Auckland.

“This excellent access offers ongoing appeal for logistics, trade and service-based tenants. Tauranga’s position within the Golden Triangle freight network underpins long-term industrial growth and investor confidence,” Ross said.