Hastings character building

The building at 120 Queen St East, Hastings, houses offices and a small gym. Photo / Supplied

Investors and owner-occupiers are being offered the opportunity to secure a freehold character building in a prime central Hastings location.

Colliers International's broker Danny Blair is marketing 120 Queen St East, Hastings, for sale by negotiation or for lease.

Blair says the property offers $147,202 in net annual holding income until September, making it ideal for owner-occupiers and add-value investors.

"The property is extremely well located in the heart of Hastings CBD, with a number of key amenities close by.

"The building itself is in keeping with neighbouring Napier's world-class Art Deco style, offering a well maintained exterior and a tidy interior fit out.

"The property has a total of 20 onsite carparks, ensuring full accessibility for all staff."

Built in 1907, the two-level 980sq m building occupies a 1263sq m site.

The ground floor comprises a mix of offices and an area set up as a small gym.

The first floor has partitioned offices that offer a functional space with various options for professional use.

"Superbly located amongst a variety of national retailers and banks, this property is just two blocks from the Clock Tower and Civic Square," Blair says.

"The irregularly shaped site means it has access points at the building entrance on Queen Street East and the driveway at Ave Road East, where parking can also be accessed."

The building has an initial seismic assessment in excess of 67 per cent of the New Building Standard, making it fit for occupation.

Tenant Cape Physiotherapy provides holding income until its eight-year lease expires on September 2. The lease contains one right of renewal of four years.

The company shares its reception area with Acupuncture Heretaunga, which offers an on-site acupuncturist.