Retail Offering in the Heart of Whakatāne

A well-performing fully tenanted commercial property close to Whakatāne’s main retail strip is for sale, offering investors the opportunity to secure a foothold in the Eastern Bay of Plenty region.

Comprising adjoining light industrial-style buildings with strong profile to passing traffic and ample parking, 12-16 Peace Street is home to agribusiness PGG Wrightson Limited and craft retailer Jayne’s.

Offering agricultural products, retail, and rural real estate services, PGG Wrightson occupies the 852sqm eastern building with the main warehouse used as a predominantly open-plan retail showroom, along with storage areas, ground floor and mezzanine level offices, plus staff amenities.

There is drive-through access from Peace Street, and three roller doors to the warehouse provide access to the security-fenced rear yard.

The approximately 290sqm western building serves as an open-plan retail showroom for fabric and wool retailer, Jayne’s, and it has a storage room with roller door access to the rear yard, toilets, workroom and staffroom.

The circa-1,643sqm site is underpinned by a Whakatāne Harbour ground lease on 14-year perpetual rights of renewal, with the next review in December 2038, giving long-term tenure certainty.

The property generates a combined net income of $111,789 plus GST, with PGG Wrightson Limited’s lease having a final expiry of March 2032 if lease renewal is exercised, and Jayne’s Wool and Fabric in occupation through until 31 January 2028.

The property is for sale through Larissa Reid of Bayleys Whakatāne, with tenders closing Thursday, 21st May 2026, unless sold prior.

With its central location, strong tenancy profile, and streamlined accessibility, Reid says this property represents a strategic commercial investment in a tightly held market.

“Whakatāne’s town centre is thriving, and tenanted investment properties are sought after by both local investors and those from out-of-town looking to diversify their investment portfolios.

“Given that the district is founded on the primary sectors, with dairy, sheep and beef farming, and horticulture major contributors to the local economy, this well-located and affordably priced commercial property anchored by agribusiness PGG Wrightson will have strong appeal.”

The subject property is within easy walking distance of Whakatāne town centre, providing convenient access to all local amenities.

“Whakatāne is the major service and administrative centre for the Eastern Bay of Plenty, with a broader Whakatāne District catchment of around 38,000 people and an urban population of circa-17,000.

“The desirable lifestyle credentials draw people here, and tourism is an important growth industry, with the population in parts of the district trebling in summer.”

The latest Infometrics Quarterly Economic Monitor showed that tourism expenditure in the Whakatāne District rose 6.9 percent in the year to December 2025, far outstripping the national average of 1.1 percent, and the 0.3 percent increase seen across the wider Bay of Plenty.

“People are actively choosing to visit Whakatāne, and there’s been a concerted effort and investment in events and marketing to attract people here,” says Reid.

“Investors looking for opportunities in a growth market will appreciate the intrinsic value of commercial assets in the town, with returns better than money in the bank.”