When the new Ōtaki to North of Levin (Ō2NL) Expressway is completed, not only will travel to Wellington and around the lower North Island be more streamlined, but Levin will reclaim its main street, giving the town a unique opportunity to rethink its retail and business centre.

Expected to open by the end of 2029, the 24km Ō2NL project aims to improve safety, reliability, and efficiency for traffic in the broader area, and is expected to spur population and urban growth, employment, and economic activity in Levin and its surrounds.

The Horowhenua District Council has embarked on the Levin Town Centre Strategy, which will see Oxford Street, the current State Highway 1 thoroughfare, upgraded. It also intends to improve east-west links across the town and redevelop key civic spaces like the War Memorial Hall and Village Green, along with creating a new Village Square, which will reimagine the town’s heart. A new integrated health facility is also under construction in the town.

Johnny Curtis and Simon Baker of Bayleys Wellington Commercial are marketing 292 Oxford Street, a refurbished and seismically-strengthened investment asset they say is a prime opportunity for astute investors seeking long-term returns off the back of infrastructural and town centre improvements.

The 205sqm single-level property, with two well-configured retail/office tenancies, is positioned at the front of a 405sqm Commercial-zoned site, with a rear yard utilised for carparking, with access via a rear laneway.

It is fully leased to established occupiers and returns a net annual income of $79,272 plus GST.

The anchor tenant, a proven national hairdressing franchise, is secured on a long-term lease with six years remaining and additional rights of renewal. This tenancy spans the full width of the building’s street frontage and is accessed directly from Oxford Street, providing high visibility and exposure to pedestrian and vehicular traffic. The second tenant is a community group that occupies office space to the rear of the building, with separate access.

Tenders close for the property on Wednesday 24th September.

Curtis says the tenancy mix delivers a robust covenant and underpins a reliable, low-risk cash flow.

“It’s a low-maintenance and compliant building which safeguards its future value, and is in a prime location on Oxford Street, which will be refocused as the heart of Levin once new roading initiatives are completed.

“Oxford Street will no longer carry heavy through-traffic and will become a true main street, with a town centre that’s safer, easier to navigate on foot, and better for local shopping and business activity.

“Levin is romping ahead and starting to transcend its sleepy rural service town origins, and from a commercial stance we see considerable opportunity to invest in its future as it morphs from a pass-through town to a real regional hub.”

The wider Horowhenua district’s population is 37,000, with Levin, the biggest town, contributing around 20,000 of that. Forecasts say the district will grow to circa-54,000 by 2044.

As housing affordability bites in main centres, towns like Levin are attracting families and first-home buyers and the town’s residential housing stock is set to expand, says Butler.

“An area referred to by council as Levin North West 1 is now being assessed for a Proposed Plan Change which would reclassify 22ha of land currently zoned Deferred Residential to Residential, which could add 400–500 new houses to the town’s inventory.

“Meanwhile, a 50-hectare industrial block near the Tararua Road interchange is being opened for new businesses as population growth demands additional commercial, industrial, and professional footprint.”