Hastings Farmers building for sale

The Farmers building in Hastings CBD

The Farmers building in Hastings is going up for sale, road cone on top and all.

The corner site at 244 Heretaunga St West is occupied by the department store, which holds a long-term lease that runs until 2032.

The property includes a lettable area of 6689sq m across two storeys and returns about $1.47 million in annual rent, according to real estate agency Colliers.

"Demand for commercial assets in Hawke's Bay has risen in recent years and this property presents a remarkable opportunity to acquire one of the premium sites in Hastings," Colliers director Danny Blair said.

The prime site in Hastings.

"The property will provide the new owner with long-term security due to the strong tenant covenant and favourable lease terms with the anchor tenant.

"This property is one of the most notable to hit the market in Hawke's Bay in years."

TSB is also a tenant of the building on the ground floor.

Colliers did not disclose the asking price for the property.

The property is for sale by deadline private treaty closing at 4pm on Wednesday, September 29, unless sold prior.

The building was constructed in 2011 with part of the former facade of the Roach's Building retained.