A striking multi-tenanted retail property anchored by national fashion chain Hallensteins is for sale on a prominent corner site in the centre of Hastings.
Strategically positioned at the intersection of Heretaunga St West and Market St South, the modern, single-level building is split into five fully-leased tenancies with a diverse mix of tenants.
The Central Commercial zoned property comprises an 844.4sq m building on a 1161sq m freehold site with five tenant car parks to the rear.
Colliers International is marketing the property at 200 Heretaunga St West which is for sale by deadline private treaty closing at 4pm on Wednesday February 27, unless it sells earlier.
Broker Danny Blair says it presents an excellent opportunity to secure a multi-tenanted investment property on a high-profile corner site in the heart of Hastings.
"This distinctive retail property earns $225,200 in net annual rent from five tenants signed to leases of between four to nine years.
The property was developed in 1994 with an eye-catching post-modernist design that pays homage to the Spanish Mission style popular throughout the Hawke's Bay during the heyday of Art Deco.
Known as Pacific Boulevard, the building's distinctive design features a curving cream-coloured corner facade, terracotta roof tiles and bold geometric tiling between the modern glazed shopfronts.
A sculptural roofline, accentuated by angular parapets and green copper gutters, provides acontrast to the streamlined Art Deco streetlights that bookmark the corner streetscape.
"Anchor tenant Hallensteins is a well-known national retailer that specialises in men's fashion, clothing, footwear and accessories.
"Founded in 1873, it is part of listed company Hallenstein Glasson Holdings Limited, which also includes popular female clothing chain Glassons.
"The building's other tenants include Australasian fashion chain Just Jeans, local restaurant Thai Orchard, national health and disability services provider Kapo Maori, and the offices of National MP Lawrence Yule."
Positioned within Hastings' main retail area, it is surrounded by established neighbouring tenants including Spark, AMI, Hannahs, Farmers and Life Pharmacy.