Commercial property investors’ eyes are on Taupo as a destination retail, hospitality and commercial complex goes up for sale on one of the town’s largest CBD sites.
Suncourt Plaza on Tamamutu Street is home to a vibrant mix of 21 national and long-term local tenants.
Businesses on-site include multiple restaurants and cafes, hair and beauty salons, a Spark store, and retailers selling gifts, clothing, jewellery and produce. Two chartered accountancy practices are in occupation in offices to the rear.
The fully leased property generates a total net rental income of approximately $675,716 plus outgoings and GST.
Suncourt Plaza, located at 19 Tamamutu Street, Taupo, is being offered for sale through Gary Harwood and Lisa Christensen of Bayleys Taupo.
The property will be sold by way of a tender closing on Wednesday 20 September, unless it is sold prior.
Harwood said Suncourt Plaza was one of the largest single commercial holdings in Taupo’s CBD, with approximately 2,278 square metres of lettable space on nearly 3,000 square metres of freehold land. The site contains parking spaces for 18 vehicles.
The front portion is single storey, with a two-storey structure at the rear which houses the office tenancies on the upper level.
“The complex’s size and diverse mix of multiple tenants creates a vibrant atmosphere, making Suncourt Plaza a destination in its own right.
“From a commercial property investment perspective, this colourful combination of tenants spanning hospitality, retail and professional services provides flexibility, security and considerable diversification of income streams,” said Harwood.
An attractive covered area allocated to some tenancies provides the flexibility of year-round outdoor use, adding to the lively vibe of the whole complex, he said.
Christensen said the property and its business tenants benefited from a location on the sunny side of the street with extensive frontage to Tamamutu Street.
“Multiple access points from Tamamutu Street and the neighbouring Starlight Arcade facilitate easy movement of customers and visitors onto and around Suncourt Plaza and the plaza also offers a public toilet block and user-friendly bike stands.
“A walkway through the property to Starlight Arcade creates pedestrian access to Horomatangi Street, linking Suncourt Plaza to one of Taupo’s primary retail areas. There is also a service lane providing access to the rear of the property,” said Christensen.
The Suncourt Plaza site is zoned as part of the Taupo Town Centre Pedestrian Precinct by Taupo District Council.
“This is a popular location, with Torpedo7 next door, Noel Leeming across the road and AA, ANZ bank and Gordons Outdoor Equipment nearby in the same street,” Christensen said.