Bunnings Warehouse building in Hastings up for sale

The site in central Hastings which has now gone up for sale. Photo / Supplied

The Bunnings Warehouse building and property in central Hastings is for sale.

The DIY and hardware megastore has a lease on the property for another four years, with an option to continue leasing the site for a further five years after that.

The owner of the property has decided to sell and the prime site is being marketed by Colliers.

Colliers Hawke’s Bay director Danny Blair said it was a great investment opportunity.

“Bunnings is one of the most recognisable brands across the New Zealand retail landscape and are long-term occupants at the site.

“With future rental growth locked in through the current lease, this represents an outstanding offering for buyers who have the opportunity to secure a top-quality asset with an established occupant.”

The site is known as 207 and 301 Market St North which includes an area of about 9000sq m.

As well as the Bunnings building, there are about 100 car parks on the site.

Colliers says the annual rental income from the current lease agreement with Bunnings is $521,551 plus GST.