A landmark property on a prominent corner in the heart of Taupō’s CBD has been repositioned as one of the region’s premier investment opportunities, following significant refurbishment, sustainability enhancements, and the security of a fully leased tenancy profile, Bayleys brokers say.

Bayleys Taupō commercial and industrial sales specialist Gary Harwood, together with colleague Lisa Christensen, is marketing the freehold property at 44 Te Heuheu Street for sale by negotiation.

Occupying a strategic 999sqm site at the intersection with Ruapehu Street, the two-level building provides 1,471sqm (more or less) of net lettable area and five on-site car parks.

The property returns a net annual income of $422,061 plus GST and outgoings from seven established tenants. Lease terms underpinned by a mix of national brands and local operators, with staggered expiries and renewal options providing both security of cashflow and future rental growth through a combination of market rent reviews and CPI adjustments.

Harwood says the mix of national operators and strong local businesses offers a genuine split-risk profile, providing a cornerstone investment that has been materially strengthened in recent years.

“Comprehensive upgrades completed in 2022 saw most of the exterior reclad, new double-glazed windows installed, a CO₂-monitored ventilation system fitted across all first-floor offices, and the first-floor interior fully relined.

“The effect has been transformative - both in terms of tenant appeal and the long-term maintenance outlook.

“Adding further resilience, a 37.7kW commercial solar system was commissioned in December 2024 to supplement the electricity use for the first-floor tenancy. This not only improves operational efficiency and lowers running costs but positions the asset in line with growing ESG (Environmental, Social, and Governance) requirements from quality corporate occupants.”

The ground floor comprises six commercial tenancies anchored by well-known consumer brands, including clothing retailers Rip Curl and October Reign, while long-established accountancy firm Stretton & Co occupies the first floor.

Bayleys Taupō commercial sales and leasing specialist Lisa Christensen says the combination of tenant quality, modernisation, and market momentum sets the property apart.

“Taupō’s commercial market remains tightly held, with investors seeking assets that deliver secure income today while aligning with long-term trends. The refurbishment programme has delivered arguably the region’s most attractive CBD property, and the introduction of solar is a progressive feature that strengthens tenant retention and broadens appeal to ESG-driven occupiers.

“Prime corner exposure to two of Taupō’s busiest streets ensures excellent visibility and accessibility for tenants, while its Town Centre zoning supports ongoing demand in the years ahead,” she adds.

“With investor confidence returning and economic fundamentals strengthening, regional centres like Taupō present compelling opportunities.

“Supported by a robust year-round tourism sector, strong population growth projections, resilient commodity performance, and substantial recent investment in infrastructure, this asset offers a rare chance to acquire a fully leased landmark that delivers secure, immediate returns alongside enduring long-term upside.”