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The Opportunity

Colliers proudly presents the Bowman Building to the market, a timeless masterpiece in the heart of Napier’s Art Deco Quarter, available for the first time in over 50 years. Designed by JA Louis Hay in 1932 and designated a Historic Category 2 building, this iconic property offers investors robust and reliable returns.

For sale by way of Deadline Private Treaty closing 3pm on Thursday, 28 March 2024 (unless sold prior).

Features:

Floor area 1730m²
Net return $442,242 + GST (approx.)
Fully leased

Highlights

Net return $442,242 + GST (approx.)

This fully leased gem features eight retail tenancies on the ground floor who account for approx. 80% of the income and nine offices on the first floor, delivering an impressive net return of approx. $442,242.

Recent lease renewals from key ground floor tenants, including Michael Hill Jeweller and Alexander Menswear, affirm its reliability. With some of the highest foot traffic levels in Hawke’s Bay, the appeal is evident.

Prime retail location, surrounded by local, national, and global brands

Sitting prominently on Tennyson, Emerson and Market Streets, it’s a must see of the Art Deco circuit with all tenants benefiting from the outstanding location. The service lane creates a distinctive layout for ground floor retail spaces, while the modernised first-floor offices, accessed via a grand stairwell and wide hallway, maintain much of the buildings original features.

Seize the opportunity offered by this prime retail location, surrounded by local, national, and global brands. Invest in a piece of Napier's rich history while securing a stable income.

The Agent

Ash Hames

Broker

Hawke's Bay

Licensed under the REAA 2008

CONTACT NOW

Location

Sales Process

For sale by way of Deadline Private Treaty closing 3pm on Thursday, 28 March 2024 (unless sold prior).

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