Slice of Town Basin for sale

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This prime piece of Whangarei land (outlined in red) is ripe for development.
This prime piece of Whangarei land (outlined in red) is ripe for development.

A prime slice of Whangarei Town Basin land that is ripe for development is for sale.

The 1934sq m site - officially at 93-95 Walton St and 68-72 John St - borders Dent St and has access from Walton and John Sts.

It houses Anytime Fitness Gym, Body Fuel Cafe and a warehouse, and has a rating value of $2,170,000 - but is expected to go for more than that.

"We're hoping for as much as possible, however, any offer will be considered," said real estate agent Cam Paterson, from Barfoot and Thompson in Auckland, who is selling the property.

The U-shaped site is in nine separate lots, though given its size it would be ideal for a large-scale development, Mr Paterson said.

He said with plans to build the Hundertwasser Art Centre with the Wairau Maori Art Gallery directly across the road, the site was prime for development.

The land is for sale by tender, which closes on August 10 unless sold prior, and currently raises a combined $105,219.20 in rent per annum from three tenants, two of which have "flexible tenure", with the third - the cafe - having a redevelopment clause in its tenancy agreement.

"Overall [it's a] well-positioned opportunity in the heart of Whangarei," Mr Paterson said.

The property is zoned Business 1, which is for providing retail, office and accommodation use, with buildings up to 20m tall allowed, making it suitable for a large hotel with retail below.

The information memorandum says the immediate surrounds are a collection of retail, hospitality and office buildings, with the site just 50m from the waterfront.

"This area is a hospitality belt, popular with tourists and locals alike. While [the Hundertwasser development] is still in the initial stages, if completed the development will create more interest and tourism into the area, which will be a boon for the town, especially the immediate vicinity."

- Northern Advocate

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