Prime Taupō Asset Delivers Trophy Investment

One of Taupō’s most prominent town centre buildings is for sale offering a trophy investment with income from six retail tenants and a professional office lease.

The expansive, extensively refurbished two-storey property enjoys standout exposure to vehicle and foot traffic at the corner of Te Heuheu and Ruapehu streets.

Trading from street-front tenancies are global surfing retailer Rip Curl and national-chain traders YOU Travel and Sporstfuel, along with a nail salon, a phone repair and accessories shop, and destination Taupō fashion stockist EDNA.

A full-floor office upstairs is occupied by Strettons, a chartered accountancy firm founded in Taupō over 70 years ago.

The tenants occupy the premises on various lease terms with final expiries ranging from 2030 to 2051.

The fully leased approximately 1,470-square-metre building with five covered car parks generates a diversified total net rental of $426,678 plus outgoings and GST per annum.

It is underpinned by nearly 1,000 square metres of freehold land in the heart of Taupō’s Town Centre zone.

The property at 44 Te Heuheu Street is being offered for sale priced at $7,150,000 plus GST (if any), through Gary Harwood and Lisa Christensen of Bayleys Taupō.

Harwood said a comprehensive upgrade and modernisation in 2022 made it one of central Taupō’s most attractive buildings.

“This transformed the original 1970s structure with significant exterior recladding, upgraded ventilation, plus new double-glazed windows and a full internal relining of the first-floor office – positioning the asset as a modern and high-performing CBD building,” he said.

The property has an Initial Evaluation Procedure seismic rating of 67 percent of new building standard.

“Further enhancing its long-term appeal, a rooftop solar system was installed in 2024 to support the first-floor tenancy, improving energy efficiency and reducing operating costs while aligning with growing ESG (environmental and social governance) expectations,” said Harwood.

Christensen said the building’s standout street presence was bolstered by some 70 metres of frontage to two key thoroughfares.

“Accessibility is reinforced by an easily walkable town centre and public parking along Te Heuheu and Ruapehu streets, as well as a service lane down the building’s western side.

“Te Heuheu Street is one of the town’s primary retail and office destinations, while Ruapehu Street is one of the main internal routes connecting the southern end of the CBD and lakefront with Spa Road to the north, generating significant vehicle and pedestrian traffic.

“This assures businesses in this building of an extremely high-profile presence, supporting long-term tenant demand,” Christensen said.