A high-profile commercial asset in the heart of Taupō’s CBD is delivering secure, long-term returns, with a fully leased tenancy profile and sustainability-driven enhancements, including an extensive solar energy system, boosting both environmental and financial performance, Bayleys brokers say.

Bayleys Taupō Commercial and Industrial Sales specialist Gary Harwood is marketing the freehold property at 44 Te Heuheu Street for sale by tender, closing at 12:00 pm on Wednesday, 12th March 2025 (unless sold prior), alongside colleague Lisa Christensen.

Harwood says the two-storey building sits on a strategic 999sqm (more or less) freehold corner site with five car parks, enjoying prime exposure at the intersection with Ruapehu Street – a high-traffic location in one of Taupō’s premier commercial hubs.

“The property features a diverse tenancy mix, with seven established tenants occupying a total area of approximately 1,464sqm. Backed by a strong mix of national and local tenants, ensuring stable and diversified cashflow from the six ground-floor retail spaces and an office tenancy on the first floor, a net return of circa $413,779 plus GST and outgoings represents a compelling yield in a tightly held market where high-quality assets are scarce.”

“Anchored by Stretton & Co – a long-established accountancy firm and complemented by leading retail brands like Rip Curl and October Reign, this asset benefits from a robust mix of professional and consumer-driven tenants.”

The building has undergone a significant refurbishment, completed in 2022 with upgrades enhancing both its aesthetic appeal and operational efficiency.

“A recent capital injection has modernised the asset ensuring minimal near-term maintenance costs while enhancing tenant appeal. This refurbishment included a major exterior reclad to most of the building, plus installation of double-glazed windows, a CO2-monitored ventilation system, and comprehensive interior improvements to the first floor.

“Adding further appeal, the recently installed 37.7kW solar energy system not only reduces operational costs but aligns with corporate ESG (environmental, social, governance) mandates – an increasing priority for premium commercial tenants.”

With a seismic rating of 67 percent, the building meets modern compliance standards while presenting future upside for investors with long-term vision.

Bayleys Taupō Commercial and Industrial Sales and Leasing specialist Lisa Christensen says that the property’s strategic location within the Taupō Town Centre Pedestrian Precinct (TTCPP) ensures strong tenant demand and long-term viability.

“Te Heuheu Street is one of Taupō’s premier retail and office hubs, while Ruapehu Street serves as a key arterial route linking the lakefront with the northern end of the town centre. This positioning ensures high visibility and accessibility, making it a sought-after location for businesses looking to capitalise on the area’s steady commercial activity, tourism appeal, and population projections that show a 77 percent rise between now and 2060.

“With its prime location, proven tenant mix, recent capital investment, and energy efficiency upgrades, 44 Te Heuheu Street offers an exceptional opportunity to acquire a landmark asset and foothold in one of New Zealand’s most desirable regional economies, with secure income today and long-term upside.”