A high-quality, government-leased office asset in one of Tauranga’s most established commercial precincts presents a rare opportunity for investors seeking hands-off returns, future income growth, and long-term security.

Bayleys Tauranga commercial broker Brendon Bradley is marketing the 926sqm (more or less) freehold site at 293 Fraser Street for sale by deadline, closing at 4:00pm on Thursday, 3rd July 2025 (unless sold prior), alongside colleagues Ryan and Lynn Bradley.

The modern two-level commercial building spans 736sqm (more or less) and is fully leased to Oranga Tamariki – Ministry for Children – providing a net annual income of $285,538 plus GST and outgoings.

Brendon Bradley says the property exemplifies a set-and-forget investment, with a new six-year lease in place from 1 April 2025, two further rights of renewal, and annual CPI rent reviews.

“With strong fundamentals and a nationally significant tenant, this asset offers exceptional peace of mind in an evolving market,” he says. “Investors are increasingly drawn to properties offering resilient cashflow, and government covenants remain among the most desirable for secure, passive income.”

The property was fully redeveloped in 2021, delivering a modern, fit-for-purpose workspace. Originally built in the 1970s as a high-stud commercial warehouse, the building was significantly refurbished to include a new first-floor addition, premium finishes, and an upgraded fit-out aligned with contemporary standards.

Bayleys Tauranga commercial broker Ryan Bradley says that internally, the building features a large, open-plan workspace, multiple meeting rooms, themed breakout areas, a staff café with rear deck, modern amenities, and generous utility zones.

“This design blends functionality with visual appeal to create a workplace that enhances collaboration and wellbeing, in line with broader office trends.

“Importantly, the building has been seismically strengthened to a A-grade, future-proofing the asset in compliance with modern safety expectations.

“Tenants increasingly favour quality, upgraded office space that supports staff wellbeing and operational efficiency,” Ryan Bradley says. “The significant investment in this building’s transformation ensures its long-term appeal to high-calibre occupiers.”

The brokers say the building is strategically positioned at the rear of the site, with 18 designated car parks provided at the front – an increasingly valuable feature in Tauranga’s fast-growing city fringe.

Zoned Commercial, the site benefits from proximity to arterial roads and is just minutes from the Tauranga CBD.

Nearby, the Fraser Cove Shopping Centre provides an established amenity base, with major retailers including The Warehouse, Woolworths, and Chemist Warehouse.

Educational institutions and healthcare facilities such as Tauranga Intermediate, Tauranga Boys College and Tauranga Hospital also contribute to the strength of this mixed-use catchment.

“This is a future-focused investment, backed by a nationally critical tenant, and located in a growth corridor where demand for quality leased assets continues to rise,” Ryan Bradley says.

“With embedded rental growth and continuity of income to potentially 2039, this offering will appeal to private investors, family trusts and institutional buyers alike.”