63 Totara Street, Mt Maunganui, Tauranga & Surrounds

Strategic landbank location!

- 1,399sqm (more or less) industrial zoned site
- High profile position on major arterial route
- Sought after Mt Maunganui business hub
- Future potential to redevelop up to 16 metres
- Outstanding short term landbank holding
- Current net holding income of $72,806 pa + GST
- Location where demand constantly exceeds supply

Rare opportunity to secure a prime industrial site superbly positioned on one of the busiest streets in Mount Maunganui, being adjacent to the Totara Street Business Park and within close proximity to the Mount commercial precinct. The Port Of Tauranga operations are directly opposite the site.

Totara street is the main arterial road from the Tauranga Harbour Bridge to the Mount Maunganui town centre and consequently the property has excellent exposure to a high traffic count. The Tauranga city centre is within 5.5 kilometres to the south west.

Currently tenanted by vehicle hire company Rite Price Rentals the property provides an attractive holding income prior to the final expiry of their lease in November 2022. Improvements include a small administration office, sealed display yard and security fencing.

Situated in the tightly held Totara Street industrial hub in the highly sought after coastal investment location of Mount Maunganui, this is an outstanding land bank proposition for a new owner to reap the rewards of the future redevelopment potential the site has to offer.