A prominent commercial property in the heart of Taupō’s town centre has been listed for sale, presenting an attractive investment opportunity with established retail and office tenants. The two-storey building, located at 44 Te Heuheu Street on the corner with Ruapehu Street, spans approximately 1,470 square metres and sits on nearly 1,000 square metres of freehold land within the town centre zone.
Currently fully leased, the property generates an annual net rental income of $426,678 plus GST and outgoings. It houses six retail tenants on the ground level, including well-known brands such as global surfing retailer Rip Curl, national chains YOU Travel and Sportsfuel, alongside a nail salon, a phone repair and accessories shop, and local fashion retailer EDNA. The upper floor accommodates Strettons, a chartered accountancy firm with a history of over 70 years in Taupō.
The tenants hold leases with staggered expiry dates ranging from 2030 to 2051, ensuring a diversified and stable income stream for the owner. The building also offers five covered car parks and benefits from substantial exposure to both vehicle and pedestrian traffic due to its prominent corner location.
The property underwent a comprehensive refurbishment in 2022, transforming the original 1970s structure into a modern commercial asset. Upgrades included exterior recladding, installation of new double-glazed windows, improved ventilation systems, and full internal relining of the first-floor office. This renovation has enhanced the building’s functionality and appeal as a contemporary central business district (CBD) property.
Additionally, the building holds a seismic rating of 67% of new building standards based on its Initial Evaluation Procedure assessment. In 2024, a rooftop solar system was installed to support the first-floor tenancy, helping to improve energy efficiency and reduce operational costs. This addition aligns with growing environmental, social, and governance (ESG) considerations increasingly valued by investors and tenants.
Bayleys Taupō agents Gary Harwood and Lisa Christensen are handling the sale, with an asking price set at $7.15 million plus GST, if applicable. Harwood highlighted the recent upgrades as key in positioning the property as one of central Taupō’s most desirable commercial buildings. Christensen noted the building’s prime street frontage of approximately 70 metres across two major thoroughfares—Te Heuheu and Ruapehu streets—provides excellent accessibility and visibility. She added that the location benefits from a walkable town centre environment, public parking options, and a service lane, all contributing to a high-profile presence attractive to businesses and investors alike.
The combination of strong tenant demand, long lease terms, recent capital improvements, and strategic location underpins the building’s potential as a long-term trophy investment within Taupō’s CBD.