506 Eastbourne Street West, Hastings, Hastings

Prime tenanted investment in Hawke's Bay

506 Eastbourne Street West, Hastings is a remarkable investment in the heart of Central Hastings. Spread across two levels with a total floor area of 2,159 square metres (approximately), this establishment seamlessly combines modern functionality with a strategic city location.

Nestled in the vibrant centre of Hastings, the property offers convenient access to essential services and amenities. Noteworthy are the two distinguished Crown tenants - the Ministry of Social Development and Oranga Tamariki, providing a stable and reliable income stream.

Seismic strengthening upgrades in 2022 have elevated the building to a robust 100% NBS, ensuring enhanced safety and longevity. Internally, the property has undergone a comprehensive upgrade, including significant tenant investment, creating a contemporary environment that meets the needs of modern tenants.

Externally, the building has been revitalized with a fresh coat of paint and a new balcony, contributing to its aesthetic appeal. With 30 dedicated parking spaces, convenience is paramount for both tenants and visitors, and with 18 additional carparks excluded from the leases, there is provision to increase your income.

Financially, the property promises a substantial net return of $542,505.05 + GST per annum, making it a highly attractive investment opportunity. The combination of strategic location, esteemed tenants, recent upgrades, and a solid financial return positions 506 Eastbourne Street West as an outstanding addition to any investment portfolio.

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