In central Napier, an Art Deco-era building with two street addresses and two distinct architectural styles has been placed on the market.
Built in stages between 1932 and 1940, the rectangular-shaped property, known asC.E.Rogers & Co, has addresses at both 190 Emerson St and 108 Tennyson St, says Bayleys Napier salesperson Sam MacDonald who is marketing the dual-frontage premises, featured in Bayleys' latest Total Property magazine.
The heritage-registered building, sitting on 505sq m of freehold land, is zoned under Napier Council's plans as Inner City Commercial-Art Deco Quarter and is being sold by a deadline treaty process which closes at 4pm on June 28.
The 810sq m dual building — which has been owned by the same family for more than 30 years — is laid out as follows:
• The Emerson St portion was built in the Spanish Mission architectural style, with low-pitched semi-circular red clay tile roofing, arched windows, a smooth plaster finish and mock-Roman pillar ornamentation on the exterior. While founded in Spain, the Spanish Colonial Revival style was made popular in California between 1915 and 1931. However, the style's influence spread globally through many of the movies produced by the Hollywood movie studios during the period. And in this era Napier had one of the highest movie-watching populations in New Zealand … including the town's architects from the firm Finch & Westerholm, who were inspired by building styles they saw on the big screens.
• The Tennyson St aspect of the building was constructed in a Neo Norman style dating back to the Romanesque revival period of the 1800s. This is a style showcasing solid walls topped by low-rise mock battlements and solid door structures designed to resemble castle doors. The original Norman style traces its roots back to the French region of Normandy in the 11th and 12th centuries. MacDonald says today the dual-frontage premises, which sits upon on 505sq m of freehold land, can sustain either two or three separate commercial tenancies, though at present two of these spaces are vacant.
At present, fashion retailer Supre Fashion is the sole tenant, occupying the ground floor at 190 Emerson St. Supre rents about 300sq m, with a lease running through until 2020 and a five-year right of renewal. MacDonald says this tenancy generates rent of $90,000 per annum, its location being enhanced by the fact that Emerson St is one of the city's main retail boulevards.
"The C.E.Rogers & Co building is one of the most unique in Napier. Not only does it have dual street addresses right in the heart of the CBD, but in a wonderful way the contrasting architectural styles book-end either side of the property," MacDonald says.
"Development potential for the greater property is huge," he says.
"The upper level of the Emerson St portion could be converted into a very cool open-plan commercial office premises. But with a surplus of commercial office floorplates in the city centre at present, a more likely use would be remodelling the space into residential use for what could be a very upmarket three or four bedroom 200 square metre apartment with the potential to have its own rooftop garden.
"The vacant Tennyson St portion of the building — because of its immediate closeness to the municipal theatre — is prime for the establishment of an upmarket brasserie-style bar, which could piggyback of the plethora of musical, cultural, drama and dance shows being held at the venue.
"Other hospitality establishments in Napier, such as The Station Bar & Bistro and Emporium Eatery & Bar at the Art Deco Masonic Hotel, use their association with the theatre to drive customer traffic.
"However, neither of these can match the location of 108 Tennyson St, which is right across the road from the theatre."
MacDonald describes the 200sq m unit which is now used for storage as 'a blank canvas'. "It has a beautiful mezzanine loft space above the ground floor."
Engineering reports show the Emerson St portion of the building has a 100 per cent rating under New Building Standards (NBS), while the Tennyson Street portion has a 72 per cent rating under New Building Standards.
The two separate sections of the building are now divided by a portal-framed inter-tenancy wall, covering up what was previously an open plan accessway route.
"The bones of the Tennyson St unit are quite sound, while the framing, beams and trusses are in a straightforward and uncomplicated configuration. It would be relatively easy to create a visionary new ambience or style within the space," MacDonald points out.
"Within that redesign scope could be the opening up of the current narrow staircase into a grander flight of stairs linking the two levels. Opening up the mezzanine floor would really make this a feature of the property."