Retail convenience in Greerton

A fully leased retail investment in one of Tauranga’s most tightly held suburban precincts is on the market, offering dependable split-risk income in a location defined by long-term ownership and sustained commercial confidence.

The 715sqm freehold corner site at 157 Chadwick Road, Greerton, is zoned commercial and occupies a prominent position. The single-level retail building of approximately 548sqm has dual street frontage and benefits from consistent daily foot and vehicle traffic.

The property includes six on-site car parks accessed via a rear service lane, and an additional council parking lot located directly behind the building is heavily used which boosts foot-traffic past the property. The quality building presents well, reflecting its long-term commercial use and consistent care by the current owners over their long-term ownership.

Three longstanding tenants are in place, each with strong brand recognition and proven trading histories. Pizza Hut has operated from the site since 2003, Matthews Vision Care is part of New Zealand’s largest independently-owned optometry group, and The Salvation Army’s Greerton Family Store has been a fixture in the community since 2010.

Together they provide a secure and diversified income stream of $131,900 per annum plus GST and outgoings, with the leases having rights of renewal and two-yearly market rent reviews.

Tyler Barry of Bayleys Tauranga is marketing the property for sale by auction on 1pm Wednesday 9th September, unless sold prior, on behalf of a local owner.

Greerton continues to benefit from sustained population growth, strong local patronage and a diverse mix of retailers, making it a compelling location for long term investment, says Barry.

“Tenant stability is front of mind for buyers, and the occupiers at this site have shown consistent commitment to the suburb.

“Greerton Village is a pedestrian-friendly shopping environment that is loyally supported by the surrounding residential catchment.

“There’s a real sense of community here, with the recent Greerton Village Mural Festival transforming a number of buildings and local sites, and the forthcoming Cherry Blossom Festival attracting wide attention.”

Situated at the southern gateway to Tauranga and just six kilometres from the city centre, Greerton is a well-established suburban hub. Its connectivity to key transport links, including Cameron Road and the wider Tauranga roading network, reinforces the suburb’s accessibility and ongoing commercial strength.

“This high-profile corner site right in the centre of Greerton will suit local and out-of-town buyers looking for hands-off passive investment, stable returns, and future growth prospects in a suburb that is tightly held and has low vacany rates,” explains Barry.

“With Tauranga sitting inside the Golden Triangle, the city’s sustained economic expansion continues to support investor confidence in suburban retail locations like Greerton.”