An 89-year-old building which survived the 1931 Napier earthquake, has a new lease on life, after it was sold to new owners for a cool $8 million.
After it was listed for sale by Bayleys Napier, Napier's former Central Post Office on the corner of Dickens and Hastings Sts was sold to an un-named new owner.
The 1929-built building was put for sale by former owner Paraparaumu-based company Waste of Space Aviation had a Napier City Council rateable value of $6.6m in September 2017.
Although it survived the destructive 1931 earthquake, the heritage-listed Art Deco building was deemed earthquake-prone in 2011. Its then anchor tenants, NZ Post and Kiwibank, moved out to allow for the strengthening upgrade work to be undertaken.
Following an extensive three-year strengthening, refurbishing and remodelling programme completed early in 2014, the building has been steadily re-tenanted over the ensuing years.