Buyers pumped at service station site sale
The freehold land and buildings housing a strategically located Hastings service station on a long lease have been put up for sale.
Positioned on busy arterial Omahu Rd in the heart of the fast-growing Omahu industrial precinct, the site is home to a Gull service station with a substantial food store, cafe and retail mart as sub-tenants.
Gull NZ occupies the site on a current lease extending to 2032, with a service station offering petrol and diesel pumps, LPG swap and trailer hire.
The property generates annual net rental income of $202,419 plus all outgoings and GST, on a lease agreement that includes fixed annual rent increases.
The retail premises are occupied via an under-lease by Night ’n Day Foodstores Ltd.
Both Gull and Night ’n Day are open 24 hours a day, seven days a week at the site.
The property at 814 Omahu Rd, Hastings, is being marketed for sale by deadline private treaty closing on Friday 22 April (unless sold prior), through Bayleys Havelock North.
Salesperson Rollo Vavasour said the offering consisted of buildings with a floor area of some 652sq m on an approximately 2308sq m site.
“In addition to fuel pump infrastructure and tanks, structures on the site include a 320sq m showroom/retail tenancy that operates as a food mart selling a wide range of staple food items and home products,” said Vavasour.
A T-shaped canopy of some 332sq m covers the fuel pumps and provides sheltered customer access to the retail premises.
Vavasour said the property presented some 50m of frontage to Omahu Rd, a busy arterial route connecting Stortford Lodge to the Hastings-Napier Expressway.
“Less than 300m from the site for sale, the expressway has seen a steady increase in traffic volumes in recent years due to its good access to Hawke’s Bay airport and New Zealand’s fifth-largest port at Port Napier.
The Omahu Rd site is zoned General Industrial under the Hastings District Plan, providing for a variety of industrial and semi-industrial activities, including limited retail and office uses.