A recently redeveloped high-spec industrial building in Hastings is being offered to the market for sale and will appeal to prospective purchasers looking for a passive investment opportunity with a steady rental stream.
Located at 29 James Rochfort Place in Hastings, the building spans 3,145sq m and sits on a 15,378sq m freehold site.
This outstanding property also features a highly functional yard that provides ease of movement for vehicles and 48 on-site car parks, offering convenience for team members, clients, and suppliers.
Underpinning the investment is a brand-new 10-year lease to Archant, a 100 per cent New Zealand-owned family business, returning an annual income of $840,000 plus GST.
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Archant is a market leader in decorative surfaces and product innovation and is renowned for bringing cutting-edge design to New Zealand interiors. Their diverse product range caters to residential and commercial projects, offering exceptional quality and versatility.
Strategically positioned just off Omahu Road, this prime location ensures seamless connectivity to the Hawke s Bay Expressway and key transport routes, reinforcing its appeal as a premier industrial asset.
Colliers Hawke's Bay Director Danny Blair has been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Thursday 27 March, unless sold prior.
The recent work was completed to an impeccable standard and the results are striking. The new warehouse will offer increased storage capacity, enabling faster order processing, improved stock availability, and streamlined logistics transformation.
The extensive upgrades also include brand-new office space, a modern facade, enhanced car parking, and a landscaped outdoor area, all executed to the highest specification.
The floor area is comprised of a 290sq m ground floor office, 293sq m first floor office, and a 2,562sq m warehouse. The excess yard spans approximately 9,000sq m.
Blair says purchasing opportunities of this calibre are exceptionally rare given the combination of a state-of-the-art building and a strong tenant covenant, all in a blue-chip location.
"This is an investment that demands serious consideration and the occupants have made their intentions clear with the 10-year lease that will begin on settlement. There are also two further rights of renewal for five years each," Blair says.
"There are attractive lease terms in place with 2 per cent fixed annual increases and a market review every five years and on renewal, ensuring built-in rental growth that will be highly appealing for investors."
Omahu Road is the main arterial route into Hastings from the west and carries a moderate volume of vehicle traffic past the subject property.
A large number of industrial premises are located at the western end of the road, including cool stores, packhouses, and processing facilities, which all contribute to the pastoral, horticultural, and viticulture sectors that are key pillars of the local economy.
The subject property is just under 8km from the CBD of Hastings, while the Hawke s Bay Airport is 23.7km away. Napier s port is also accessible and can be reached in approximately 30 minutes.
"This is a low maintenance investment opportunity that is not to be missed and represents the chance to acquire a premium asset in a keenly sought location," Blair says.
- Supplied by Colliers
