Positioned within Napier’s established Clive Square precinct, Focal House presents a diversified commercial investment opportunity with strong underlying income and further rental and development upside.
Occupying a high-profile dual-corner position just minutes from the heart of Napier’s CBD, the 1,280m² two-storey property comprises 10 separate retail and office tenancies, providing investors with a broad spread of income across multiple occupiers.
The property is anchored by TAB on the ground floor and is substantially leased, with further value-add potential through a number of below-market rentals. The Owner has also committed to covering the income from the small vacant office areas until they are leased, providing additional security to the incoming purchaser.
Further upside is available through newly prepared concept plans to redevelop the first floor into eight inner-city apartments, creating an attractive longer-term opportunity to reposition part of the property and introduce a residential component to the income mix, subject to the usual consents and approvals.
Built in 1929, Focal House has an assessed seismic rating of 70% NBS and has recently benefited from a new roof and exterior repaint, reducing near-term capital expenditure requirements.
The location continues to benefit from strong pedestrian and vehicle movements, with the property positioned adjacent to the Art Deco Centre and InterCity bus terminal, while retail, office and trade services are all located nearby.
Overall, Focal House offers a well-located investment with diversified income, strong holding returns and genuine future upside through both rental growth and potential first-floor residential redevelopment.
Contact Ash Hames for further information or to arrange an inspection.
Features:
* Net Rent approx. $209,500 + GST
* 70%NBS Seismic Rating
* Diversified income stream
* TAB anchoring the ground floor
* High-profile dual-corner position
* Floor Area 1280m²
