Coveted 1930s’ era building in Whakatāne for sale

A substantial commercial holding on Whakatāne’s most iconic CBD corner has come to the market, offering investors genuine scale and a resilient, multi‑stream income profile.

The property at 79 The Strand occupies approximately 2,687sqm of freehold land at the intersection with George Street. Anchored by the Art Deco‑style Whakatāne Hotel, and home to several other hospitality and service businesses, it has prominent dual street frontage and benefits from high vehicle and pedestrian flow.

The corner site has hosted a succession of hotels since the 1880s, each expanded or rebuilt as the town grew. The current building, a standout example of Art Deco architecture, was designed by Auckland architect Robert B. Young and constructed in 1939 by Hancock & Co at a cost of 30,000 pounds. It has endured as both a defining feature of the downtown streetscape and a long‑standing part of Whakatāne’s social fabric.

The building offers approximately 2,220sqm of floor area across five tenancies. The upper level accommodates the Whakatāne Hotel, while the ground floor is home to The Craic Irish bar/restaurant and gaming facility, the Boiler Room function venue, the Cobb & Co restaurant/bar and gaming lounge, a barbershop, a health products store, and a beauty clinic. A separate ground‑floor wing provides additional hotel accommodation, opening directly onto a paved courtyard. A shed, which is not covered in the existing leases, could be utilised by the new owner, or rented out.

The property returns a total net annual income of $273,315 plus GST, with all five leases including rights of renewal. BEN Private Limited, which operates the Whakatāne Hotel, The Craic, and the Boiler Room, has a final expiry of October 2043 if all renewals are exercised. Everlume Limited, trading as Cobb & Co, has the same potential final expiry.

The Barbers and Nature Zone health store have potential final expiries in 2034, while Body and Soul beauty clinic’s lease could run through to 2032, all subject to renewal rights being exercised.

The property will be auctioned on Tuesday 19th May, unless sold prior, and is being marketed by Larissa Reid, Bayleys Whakatāne, along with colleagues Brendon Bradley and Lynn Bradley of Bayleys Tauranga.

Whakatāne local, Reid says the Whakatāne Hotel property represents a rare large-scale investment opportunity within one of the Eastern Bay of Plenty’s most established and tightly-held CBD locations.

“This recognised landmark delivers dependable long‑term income and is the type of asset that anchors a serious portfolio. Privately held since 2005, the property has been meticulously maintained, with the vendors now realigning their investments after more than two decades of careful stewardship.

“Diversified revenue streams create a balanced, split‑risk income profile that reinforces the asset’s resilience, while the prominent corner site offers scale, visibility and future flexibility, positioning it as a genuinely strategic holding.”

The Art Deco–influenced building has a grand presence inside and out, blending the character of its era with the functionality expected of a modern commercial asset.

“The Whakatāne Hotel has been a consistent provider of accommodation for generations and markets itself as having comfortable rooms and classic charm,” says Reid.

“It offers single, twin, double rooms and bunkrooms with shared bathroom facilities, plus twin and queen ensuited rooms at an accessible price point and in a central location. The Craic and Boiler Room hosts live music events and functions, and Cobb & Co has been a fixture on the local hospitality scene in this building since 2009.”

“With its distinctive architecture and striking presence, this building provides one of the town’s most attractive and lively commercial environments.”