Flaxmere Village Shopping Centre still unsold

Despite "significant interest" and a number of tender offers, the shopping centre remains unsold. Photo / Warren Buckland

Flaxmere Village Shopping Centre remains unsold after two months on the market.

Agent Philip Searle, from Property Brokers Gisborne, said a "significant number" of genuine inquiries were received since it was placed on the market in July but none that were satisfactory for the vendor.

The property has a current rateable value of $5.6 million.

Searle said they were currently working with other potential purchasers.

The entire 2.17ha property includes 25 tenancies and 162 parking spaces. It has been owned for 12 years by the Hong Kong-based Sung Family Trust.

Current tenancies include a dairy, pharmacy, health clinic and bakery anchored by the largest shop, New World Flaxmere.

There is opportunity for further development and rental growth in the complex.

An undeveloped area next to the liquor store has been identified by potential purchasers as a space for further development.

An area of about 1100sq m near the public library, which has been leased to Hastings District Council at a peppercorn rental, has been developed by the council as a village green. It maintains it on an ongoing basis until it may be required for further development.

Previously, Hastings District Council had said it was "assessing its options" when asked if it would be looking at purchasing the property.

A council spokesperson said there had been no council decision on it.