Renaissance of Tauranga CBD
A refurbished A-grade commercial property in Tauranga’s CBD is the latest privately-funded development to hit the market for lease in a wave of regeneration for New Zealand’s fastest-growing region.
Developed by Pukaingataru B18, in conjunction with architects Ngata Tapsell and BECA, the refurbishment offers six modern tenancies available for lease, suited for office, retail or light hospitality use.
Bayleys Tauranga leasing broker Lynn Bradley says the project is a visionary undertaking by Pukaingataru B18, an established and progressive Ahu Whenua Trust with investments in the Bay of Plenty and beyond.
Named Pūtahi Teia in honour of the trust’s late, longserving chair Teia Williams, the development signals the intention of entities such as this to extend their influence beyond primary industry asset classes.
“The project is indicative of a renaissance currently under way in Tauranga’s CBD, where multiple projects are either proposed or proceeding, contributing to growth across the region,” Bradley says.
“Sustained local investment and the transformation of Tauranga’s CBD points to a continuation of appetite for commercial development, and when underpinned by sound urban planning principles and long-term strategy, businesses will thrive.
“The progression of privately-funded developments such as Pūtahi Teia is helping to deliver a more vibrant and dynamic city centre which attracts new business, helping Tauranga to retain its place as the fastest-growing New Zealand region,” she says.
Bradley is marketing Pūtahi Teia for lease by negotiation with Bayleys Tauranga colleague Brendon Bradley.
Completion is expected in the second quarter of 2024.
“Every aspect of the building aspires to be an exemplar of best practice, with the evolving needs of the modern workplace a central design driver, sustainability front of mind, and deep cultural underpinnings supported by the local hapū, Ngāi Tamarāwaho,” Lynn Bradley says.
Six tenancies are proposed for the site, with occupancy spread over two levels and units ranging from
105-239sq m to suit retail, office or hospitality use. The total available rental area of 959sq m could be utilised as one tenancy with alternative options to split as required.
The landlord proposes an initial lease term of six-plus years from the commencement date and rights of renewal by negotiation.
The building has four secure covered carparks with electric charging facilities and the owners are open to securing additional carparking facilities for tenants offsite. Bicycle and equipment storage is also available, with end-of-trip facilities provided.