Seismically strengthened, excellent anchor tenant

131-139, Hastings Street, City Centre, Napier

By Negotiation

Proposed Usage
Floor Area
817.00 m²
Land Area
253.00 m²
Property ID

- Iconic Art Deco building in prime, upper CBD location
- Strengthened to 80% (or greater) NBS
- Strong anchor tenant in recently refurbished ground floor
- Current net passing rental of approximately $92,481 p.a.
- Further development potential and rental upside
Originally built in 1929 'Bennett's' was the first building in New Zealand to be designed with a floating foundation. Recently strengthened to a high NBS this iconic Art Deco property spans four levels including basement) and features a mixture of tenancies. IAG Ltd (T/A AMI) have undertaken a significant refurbishment of the ground floor in 2017 with the current term of lease running to 2021 and final expiry in 2037. Two further tenancies occupy the basement and the top floor with the vacant first floor of approximately 216sqm offering plenty of add value opportunity to the savvy investor or owner/occupier.

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City Centre Area