Use your imagination in prime Hastings location
A strategically located property in suburban Hastings with low site coverage and development potential is available for purchase.
903 Florence St, Raureka, has 592sq m of total floor area on a 2941sq m landholding zoned Hastings General Residential.
The buildings at the property comprise a church hall and an office annexe previously used for a childcare centre licensed for a maximum of 35 children.
The property includes large open areas, individual offices, mezzanine space for storage and a large outdoor play area. There are 17 on-site carparks. Both local schools are within walking distance.
This is a highly appealing opportunity for residential developers who could help this property reach its full potential through removal of the existing improvements and re-imagining the site with a major residential development.
Colliers Hawke’s Bay director Danny Blair has been appointed by the mortgagee, Bank of New Zealand, to market the property via mortgagee tender closing at
4pm, Wednesday November 15. Originally constructed in 1960, the main buildng was extended in the mid-1990s.
The childcare centre spans 472sq m and the storage area is 23sq m, while a deck measures 24sq m. The combined veranda and entrance is approximately 41sq m.
Blair says there are a range of options for prospective purchasers who will be able to make the most of a ready-made facility.
A new childcare provider may purchase the premises and have their own facility. This would give them freedom in their business, and they would not be bound to any lease agreements. Suburbs throughout the country are regularly seeing strong demand for childcare with many centres fully subscribed.
Alternatively, a developer may wish to acquire the site and either reposition the existing improvements or take advantage of the surplus land and intensify the overall usage.
Hastings District has seen consistent population growth during the past three years with data from Infometrics pointing to steady rises above the national trend. In
2022 the population was measured at
90,600 with 20.3 per cent under the age of
15, higher than the national average of 18.8 per cent, pointing to potential demand for childcare.