For first time in more than 40 years, a large prominent land holding on Cameron Road, Tauranga CBD has come to market. The Cameron Road property consists of three adjoining land titles and is fully tenanted.
The property sits beside Central Tauranga’s fire station on one of the main arterial routes in to and out of the city centre. Car dealerships have been operating from parts of the address since the early 1970s – then predominantly by the current property owners, the Cranston family.
The high-profile rectangular shaped block of land at 199/207/213 Cameron Road is being sold as one lot. Combined, the three sites total 2,192 square metres of freehold land zoned city centre under Tauranga City Council’s spatial plan.
The Cameron Road block is being marketed for sale at auction at 1pm on October 24 through Bayleys Tauranga. Salespeople Lloyd Davidson and Laura Taylor said the site would most likely be bought by a developer with a vision to capitalise on creating a more efficient use of the property by building up.
“While the site has served Tauranga well as a car yard dealership over the decades, selling thousands of cars to its residents in the process, simple anthropological evolution means that its life in its present form is likely to come to an end. It has far greater potential as a reconfigured space,” said Mr Davidson.
“The city centre zoning for 199 – 213 Cameron Road allows for a 19 metre high structure – equating to what could be street level units with four storeys above.
“Under that framework, potential redevelopment of the greater site could allow for multiple options – such as retail or commercial premises at street level with commercial offices or apartments above, or most likely a mixed-use model containing commercial units on the ground floor and residential dwellings above.
“The rear of the property is accessible by way of a service lane owned by Tauranga City Council.”
Ms Taylor said the current lease terms run through till the end of August 2020.
“These leases would provide a holding income for any new owner while relevant and appropriate resource consents are sought,” Ms Taylor said.
“Any development up would of course open up substantial views over the city and environs for those dwellings on the upper levels – from Motuopae Inlet on the western side and Mount Maunganui to the North, around to Tauranga inner harbour from the eastern aspect.”
Ms Taylor said that with Waikato University’s Windermere campus under construction on an adjacent block, along with a limited amount of student accommodation, there was a potential for some higher-end student residences to be included in any plans for the Cameron Road site.