Bayleys' Napier salesperson Sam MacDonald describes a major structural strengthening and modernisation programme.
"The interior is redecorated along Art Deco lines, with leadlight windows and period doorways installed; high-stud walls retaining stark white lines and polished concrete flooring.
"The refurbishment added new electrical wiring and lighting; new plumbing; a fire alarm system; an electronic key-tag entry system; air conditioning units and a new roof. The rear deck area at the back of the upper level is upgraded.
"The end result is one of Napier's best presented Art Deco commercial properties, seamlessly combining the flamboyant character of the 1930s with the design sophistication of today.
"The outdoor deck area shared by the tenants on the upper level for example brings a taste of 'big city' chic to the location — and is used almost daily as an al-fresco dining room, or for drinks and socialising after work."
The property generates annual rent of more than $137,000 from six commercial tenancies:
• Peppers Hair and Beauty Boutique occupying 55sq m, on a lease running through to 2023 with two further three-year rights of renewal, generating rent of $24,000 plus GST per annum.
• Jellybean Brewing Supplies, occupying 58sq m, on a lease running through to 2023, with two further three-year rights of renewal, generating rent of $16,970 plus GST pa.
• Corporate branding design and marketing company Media Mint, occupying 107sq m on a lease running through to 2023 with three further three-year rights of renewal, generating rental of $30,000 plus GST pa.
• An asset management company occupying 55sq m, on a lease running through to 2021 with three further three-year rights of renewal, generating rent of $24,000 plus GST pa.
• Massage parlour Club Rendezvous occupying 125sq m, on a lease running through to 2020 with two further two-year rights of renewal, generating rent of $30,515 plus GST pa.
• E-bike retailer Vallkree occupying 16sq m, on a lease running through to 2020 with two further two-year rights of renewal, generating rent of $12,000 plus GST pa.
Dalton St is in the heart of Napier, a short walk from two Napier City Council operated car parks.