Opportunity to honour one of the All Blacks’ greatest players
A landmark commercial block on Napier’s high-profile Marine Parade, tenanted by two professional services companies, is for sale.
The stand-out four-storey block at 19 Marine Parade – known as Kel Tremain House — overlooks the city’s famous Norfolk pines and the Pacific Ocean waterfront, and is just a short walk from the central business district. The property consists of 769 sq m of office space sitting on 943 sq m of freehold land.
The building was named for Hawke’s Bay rugby legend Kel Tremain, who played 86 times for the All Blacks between 1959-68 and 96 times for the province, and served as an administrator after retiring from top-flight rugby. He died in 1992.
Combined, the two tenancies generate a net rental income of $146,411 plus GST per annum, and comprise:
Software accounts management firm Intersoft Systems Ltd on a lease through to 2024 occupying 67 per cent of the building, on the first and second floors
Mental healthcare services provider Talking Cure on a lease through to 2024 with two further three–year rights of renewal occupying 33 per cent of the premises on the top floor.
Rental reviews are undertaken on the renewal of lease terms.
The triangular-shaped freehold land and standard rectangular-shaped building are being marketed for sale by deadline private treaty through Bayleys Napier.
Offers close on August 5. Salespeople Daniel Moffitt and Jacob Smith said the building was one of the best examples of commercial office space in the city – combining a prime location with a premium premises.
Kel Tremain House has on-site parking for 12 vehicles, with access at ground level off Marine Parade. Additional customer car parking is available immediately outside the office block.