Landmark RSA ‘mega site’ eyed for redevelopment

The expansive ‘mega site’ that has been home to the Mount Maunganui Returned Services Association for nearly six decades is up for sale ripe for large-scale redevelopment.

The high-profile nearly 6,800-square-metre freehold landholding on Maunganui Road sits in a strategic corner position with triple street frontages spanning over 250 metres.

High Density Residential zoning under the Tauranga City Plan primes the site for a landmark multi-storey residential complex to accommodate a booming population, or an intensive mixed-use development (subject to resource consent).

Demand is supported by strong local amenity and lifestyle appeal in a location central to major employment and retail hubs, recreational facilities, and the Mount’s famed beachfront.

Existing RSA buildings of nearly 2,000 square metres, offered for sale on an “as-is” basis, plus expansive paved on-site parking, present holding income potential for new owners while they progress future plans.

Formed in 1943, the Mount Maunganui RSA has been based in the single-level property since 1968. The organisation is now leaving and offering it to new owners with vacant possession.

The freehold land and buildings at 544 Maunganui Road, Mount Maunganui, are being marketed for sale on behalf of the RSA by family sales team Ryan, Brendon and Lynn Bradley of Bayleys Tauranga. Sale is by way of a tender closing on Thursday 21 May.

Ryan Bradley said the site would be eyed by developers, land bankers and special interest buyers seeking to capitalise on a prominent, large landholding in one of the Bay of Plenty’s most desirable coastal markets.

“This landmark freehold mega site could sustain a master-planned development, and staged delivery, at a scale seldom available in Mount Maunganui.

“Future projects will benefit from the three extensive frontages, including more than 100 metres to arterial Maunganui Road, plus wide frontages to Dee Street and Macville Road. Convenience is heightened by dual vehicle access from the latter two thoroughfares, and pedestrian access from Maunganui Road.

“In the short to medium term, new owners have an option to re-lease the site as-is, possibly splitting it into several tenancies together with the abundant on-site parking, to generate rental income,” said Ryan Bradley.

Brendon Bradley said the property had been developed over the years to provide a sizeable single-level building.

“This contains a reception and office area, lounge with gaming machine and bar facilities, function, dining and sports rooms, kitchen and toilet facilities, plus utility rooms. There is also a small storage building on the eastern side of the site.

“The buildings offer potential to generate an immediate holding income. However, the primary value undoubtedly lies in the underlying landholding and its outstanding redevelopment potential,” he said.

The strategic Mount Maunganui location places the site within minutes of the major employment hubs of Tauranga’s CBD and the Port of Tauranga. Nearby State Highway 2 facilitates easy travel across the city and beyond.

Lynn Bradley said future prospects at the site were underpinned by compelling long-term city growth fundamentals.

“Home to the country’s largest export port by volume, Tauranga is the primary commercial, industrial, and distribution centre for the Bay of Plenty, and one of New Zealand’s strongest-performing local economies.

“It is one of the country’s fastest-growing cities, and that expansion shows no signs of abating.

“Stats NZ estimates that Tauranga’s 2023 population of 159,000 will swell to nearly 250,000 by mid-century, making it New Zealand’s fourth-largest city. This will deliver a huge boost to the labour pool, consumer base, and business demand, along with the need for ever more housing,” Lynn Bradley said.