Keen interest expected in Hawkes Bay buildings

An aerial view of 73 and 75 Austin St (outlined in red). Photo / Supplied

Two commercial properties in Napier will be auctioned by Bayleys early next month and tenants are now being sought for a new building to arise from the ashes of one of Hawkes Bay's biggest industrial fires.

Comprising two adjoining freehold titles, 73 and 75 Austin St in Onekawa will be offered firstly on September 11 as one lot and if bidding interest does not support this, then they will be put up for auction separately.

Marketed by John Looney and Eoin Carty of Bayleys Napier, the freehold offerings are located at the top end of Austin St which is an arterial traffic route within the Onekawa industrial area allowing for easy access to the SH2 expressway.

The combined property is currently leased to Schneider Electric (NZ) Limited which will occupy the premises until March 31, 2010, allowing a new owner a short-term rental stream while consolidating future usage plans for the buildings.

Situated on 1085sq m of flat land, 73 Austin St comprises a 455sq m office and workshop building with air-conditioned, carpeted and partitioned offices along with a training room on the lower level. Mezzanine boardroom facilities and staff amenities occupy a further 143sq m and a 285sq m workshop to the rear could be converted into further offices.

"This property could be suitable for a church group, a training facility or professional offices like an accountant's premises," Looney says. "There are a number of professional offices in this area attracted by reasonable rents, availability of ground-floor space and good parking. It is a practical location for a small business and would appeal to someone wishing to secure their own building."

Next door at 75 Austin St, the 1087sq m site supports a workshop and warehouse space with a total floor area of 442sq m and potential to improve and extend the existing building.

"The large front parking area could lend itself to the building of a showroom but it is currently a tidy unit that would suit an owner-occupier," Looney says.

"Properties in Onekawa are generally reasonably well-held and these two buildings are interesting because they offer a variety of usage options. With a strong infrastructure in this area to support local businesses, Onekawa is thriving and we are expecting strong interest in these properties."

Rollo Vavasour of Bayleys Napier says he is keen to hear from prospective tenants interested in high-specification premises to be constructed at 700 Omahu Rd where a fire in 2006 destroyed a building.

Construction of a new storage facility for the Hawkes Bay District Health Board is due to start in a few months on the site and Vavasour has negotiated a design-and-build lease on behalf of the property's owners, Guardian Trust Company Limited. The building will have a footprint of 1200sq m and include a mezzanine level and air-conditioned offices.

To the front of the site facing Omahu Rd will be a further building of between 600sq m and 1200sq m that Vavasour is seeking to lease.

"Guardian Trust envisages an upmarket building with provision for a showroom, offices and on-site parking. In recent years, we have seen a gradual 'gentrification' of Omahu Rd with a trend towards more high-profile tenants and this new building could appeal to a home decor/design business, trade showroom or retail tenant looking for conveniently located premises," says Vavasour.

"An early inquiry on this new-build opportunity would allow for a tenant's requirements to be incorporated into the design stages and we expect broad interest given the proposed quality of the building and the location."