Development With Holding Income

60, Prebensen Drive, Onekawa, Napier

Tender

Proposed Usage
Office
Floor Area
960.00 m²
Land Area
5014.00 m²
Description:
Property ID
1c1kytf



A rare opportunity to acquire land with holding income on Prebensen Drive makes itself available through the listing of 60 Prebensen Drive.

The land has a prominent street frontage to Prebensen Drive, which has massive traffic volumes interlinking the Napier's CBD to the Large Format Retail zoning.

Further redevelopment is scheduled to significantly upgrade the commercial landscape in this area of Napier, which will add to the recent establishments of Mitre 10, EuroCity, and several others including Farmlands and Hunting and Fishing.

Buildings are seismically sound and tucked into the properties corner, allowing for flexibility to redevelop. The current rental of $100,000 per annum for 960sqm of buildings is assessed at below market levels, with Workforce Development expressing interest in re-negotiating a new lease beyond the current term.

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Onekawa Area