Business HQ at 308 Queen St East, Hastings, is a major local commercial hub. Photo / Supplied
Business HQ at 308 Queen St East, Hastings, is a major local commercial hub. Photo / Supplied
By Colin Taylor
Business HQ, a large inner-city Hastings property, leased to a number of leading Hawkes Bay professional firms, is on the market.
"This sale represents an ideal opportunity for an astute investor," says Danny Blair of Colliers International, who is marketing 308 Queen St East, in the heartof the Hastings CBD, for sale by negotiation. "Business HQ ticks all the boxes in terms of location, quality of build and strong tenants."
Blair says Business HQ is a major local commercial hub occupying a prime land area of 5046sq m on the corner of Hastings St and Queen Street East.
"It provides international-grade office space for local and national companies predominantly from the business sector," he says. The total rental income sits at $481,700 per annum, with fresh long leases in place.
The building's exterior was designed by well-known local architectural firm Paris Magdalinos Architects. Business HQ comprises 1425sq m of new building and 925sq m of extensively renovated and redeveloped space, which meets building code regulations and 100 per cent of earthquake safety standards.
Fronting 100m of Queen Street East, covered walkways provide convenient access to all tenants from the ample on-site and off-street parking in the area, Blair says.
"The building has been designed with large windows that provide generous natural sunlight; along with gardens and communal outdoor recreational areas tailored for client entertainment and functions."
The property provides international-grade office space for nine professional tenants. Photo / Supplied
Business HQ's nine tenants are: Strata Group, VO2 Hawke's Bay Limited, Moore Stephens Markhams, Moore Stephens Hawke's Bay Audit, Jacksons Engineering Advisers, Logan Stone, Fern Ridge Produce, Createus Group and Resource Development Consultants.
"Being situated on the eastern side of the CBD, Business HQ has excellent access to all areas of Hastings, Havelock North and the expressway to Napier," Blair says.
"Surrounding buildings of the development include high-profile national tenants such as Harvey Norman, New World, Kmart and five banks.
"The Hawke's Bay economy continues to remain buoyant and with confidence in the region at an all-time high, an investment in the region is a good strategic move."
