Situated on a high-profile stretch of Karamu Road North, this exceptional freehold property represents a rare opportunity in the heart of Hastings’ commercial hub.
Spanning two titles with a combined land area of approximately 2,764m², the property is fully leased to two established tenants. Outdoor Power, a well-known local operator providing a full range of outdoor and power equipment solutions, is on a three-year lease from March 2024 returning $76,000 per annum. The second tenancy is occupied by Harker Herbal Products, a leading New Zealand-owned company specialising in herbal supplements, recently committing to a three year term from 1 August 2025, with final expiry in August 2038 if all renewals are exercised. Together, the tenancies provide a combined net rental of $161,000 per annum + GST.
With excellent street frontage, strong traffic volumes, and ample on-site parking, the property offers outstanding visibility and accessibility. Its strategic position, surrounded by established businesses and close to major arterial routes, makes it an attractive option for investors or developers seeking a versatile, high performing asset in a thriving commercial location.
Contact Ian McLachlan and Danny Blair for further information or to arrange a time to view.
Features:
- $161,000 net rental pa + GST
- Two secure tenants
- Prime location
- Solid versatile buildings
- Two separate titles
More information: https://www.colliers.co.nz/p-NZL67037772
