Popular Napier landmark The Old Mill is on the market for the first time in more than four decades.
The nearly 120-year-old facility has been an important stable in the region's economic and hospitality scene over that time as both a wool mill and in recent years a functions and events venue.
Anne Vink has owned the mill for more than 45 years having bought it with her late husband Frits in 1973.
Now she says the time has come to pass on the torch and hopes a new young person or couple can take on the challenge of The Old Mill.
"I'm 70 now and just thought it was time to move on and let someone else younger take on the challenge and beauty of this mill and grounds."
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The mill was started in 1900 and was seen as a great economic opportunity for the region.
It produced woollen bales which would then be used for clothing, carpet and other products.
When the 1931 earthquake struck, one of the buildings collapsed and after the Wahine Storm hit in 1968 damage forced production to close down for a few years.
When the Vinks bought the facility in 1973 they carried on the tradition for 18 years.
In 1991 it was decided a change was needed and they introduced the Hawke's Bay Arms Museum, which Frits set up in a basement area of the mill.
"It was something the two of us were into and seemed to be very popular when we did run it, but one night Frits had a nightmare of something going horribly wrong so he closed it and we went on to the next thing," Vink said.
The pair set up the mill as a functions venue in 1996. Vink has carried on with it since Frits died a few years ago, but says the time's right to step away.
The building is also classed as a heritage site which for Vink took her a while to get her head around.
"I went to Wellington to get it classified as a heritage building and was sort of intimidated because the building there is old and well preserved and beautiful, but the woman I was dealing with said it's not about the looks of the building but how the site and the people have changed and developed the community around it."
Vink said that inspired her to continue the tradition and the history of the mill and plans to open a museum at her property further up the road from the mill and the history of wool in Hawke's Bay.
The Old Mill is located on one of the few remaining large, developable landholdings in the Hospital Hill area.
Comprising 2.76ha of residential land with a function centre, four tenancies, a courtyard garden, large arena and an area of native bush, there is also an estimated 2.25ha of undeveloped land, including the arena. The Napier Hill character zoned land could potentially accommodate 18 residential lots averaging 1500sq m, or 30 semi-detached townhouses on a shared site.
The property is to be sold by tender sale closing 4pm, Thursday, November 28.
Vink said all wedding bookings made at the site will not be affected with some more than two years away.