An exciting investment opportunity comes to market at 215 Railway Road South, Hastings. The property comprises of six levels of commercial office building known as 'The Tower' and situated on Hastings CBD fringe. The site includes 2920sqm (more or less) of building on 1242sqm (more or less) of land, situated on a quiet corner with close proximity to the brand new Hawkes Bay Police development.
The building was constructed in the 1960s and consist of reinforced concrete foundations with steel main framing, aluminium joinery and roofing with an NBS rating of 47%. In 2017 the carpark across the road was amalgamated on to the title to accommodate fifteen (15) added carparks to the property. The building host 28 tenants throughout the six-level structure with a wide range of uses including tertiary institutes, medical practitioners and business professionals. All tenants have varied lease terms with a mixture of well-established tenants and some flexible term options.
The Tower offers a multitude of options for investors looking for a healthy return on their investment as well as future capabilities to potentially refurbish or redevelop this iconic Hastings landmark. Take this opportunity to add this to your portfolio and enjoy Hawke's Bay's booming economy.
For further information please call Jake Smith 022 172 2718.
For Sale by Deadline Private Treaty closes 1pm, Friday 10th April 2020 (unless sold prior), 17 Napier Road, Havelock North.
215 Railway Road, Hastings CentralOpen in map