Kiwibank call centre in Hastings
Kiwibank’s call centre and business hub in central Hastings is on the market, offering investors the chance to secure a high-profile commercial property with a national tenant and add-value potential.
Colliers International is marketing
200 Market St North and 211 Queen St West, Hastings CBD, for sale by deadline private treaty. Offers on the
4240sq m freehold property close at
4pm on August 21, unless it is sold erlier.
Broker Danny Blair, of Colliers International Hawke’s Bay, says it is an outstanding opportunity to acquire a split-risk investment in a sought-after CBD location. “On a high-profile corner site, this attractive commercial property was newly refurbished and seismically strengthened in 2014.
“The property comprises a ground floor office and retail space that is split into two tenancies, with an additional mezzanine office area and rooftop car parking. The larger tenancy is on a long-term lease to national tenant Kiwibank, while the smaller, vacant, tenancy, would suit office or large-format retail tenants.
“The smaller tenancy could also be partitioned into smaller tenancies, or has the potential to be sold separately on a unit title as a solution for owner-occupiers.
“Savvy investors will not want to miss this superb chance to acquire a bankable investment with strong tenant covenant, flexible options and a top Hastings CBD location.”
Blair says the property comprises two freehold titles, which are wellpositioned at the corner of Market St North and Queen St West.
“Queen St West is the main vehicle route around Hastings CBD, with activities including both office and retail. Tenants in the vicinity include Bunnings Warehouse, Spotlight and Countdown”.
Kiwibank occupies a 2420sq m tenancy, including a retail bank branch on the street front corner of the site. The remainder of the tenancy houses Kiwibank’s national call centre and business hub.
The bank is signed to a nine-year lease returning $435,000 in annual rent, with three-yearly market reviews capped at 10 per cent.
Two rights of renewal of six years each extend the total lease term until December 2035.
The vacant 1137.5sq m tenancy has the potential to return $220,000 in annual rent, bringing the total assessed rental income to $655,000 a year.
Blair says the building was recently upgraded and strengthened to 80 per cent of new building standards. The superstructure meets 100 per cent of standards.
Extensive refurbishments were carried out, with a high standard of fit-out throughout.
Excellent fibre optic cable cable connections are available.
The building has three separate fibre providers connected — Unison, Chorus and Vodafone.
The main building, which has a floor area of 3640sq m, is located on a
3081sq m freehold title at 200 Market St North. A sealed car park is on the adjoining 1159sq m freehold title at 211 Queen St West. The property has 62 car parks, split between the rooftop parking area and the ground-level sealed car park off Queen St West.