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Property that launched firm behind iconic New Zealand bridges goes up for sale

A property that was the launching pad for a Hawke’s Bay business behind many of New Zealand’s best-known bridges has been placed on the market for sale.

The single-storey office premises at 31 Thames Street, in the established industrial precinct at Pandora, Napier, were purpose-built in the mid-1970s for Eastbridge – a firm which has gone on to build and supply steel bridging for major projects across New Zealand, the Pacific and South East Asia.

Eastbridge’s work features in prominent road, rail and foot bridges including the Christchurch Gateway arches and bridge near Christchurch Airport, the ‘twin-masted’ crossing at Whairepo/Frank Kitts Lagoon on Wellington’s waterfront and landmark motorway footbridges at Onehunga and Mount Roskill in Auckland.

The company supplied steel components for Whangarei’s iconic, award-winning harbour bridge, Te Matau ā Pohe. It also produces structural steel for the wider infrastructure market including gantries and towers, railing and lighting poles.

Eastbridge has owned and occupied the Thames Street property since the firm had it built as its original base. It has since developed significant production facilities nearby and growth in its operations and property footprint mean it no longer needs the office and car park at the original site.

It is offering the land and building at 31 Thames Street for sale with vacant possession, with the option of a one-year leaseback to Eastbridge at approximately $40,000 to $45,000 plus outgoings and GST per annum, to be negotiated prior to sale.

The property is now being marketed for sale by deadline private treaty closing on 22 October (unless sold prior) through Bayleys Napier.

Salesperson Mark Evans said the Thames Street property consisted of a single-storey building offering some 130 square metres of office accommodation on 1,012 square metres of flat freehold land with multiple car parks.

“This rectangular site, which fronts onto busy Thames Street, is subject to final survey and subdivision from 6 Mersey Street. A new title will be issued upon settlement,” Mr Evans said.

“The office accommodation is positioned to the rear of the site. It is constructed from concrete-block walls with brick-veneer cladding and aluminium joinery and has an iron roof with skylights,” he said.

“The building incorporates a large reception area, a manager’s office and an open-plan office area with amenities. The site has a sealed yard with landscaping.”

The property is zoned Main Industrial under Napier City Council’s district plan. This zoning allows for a wide range of industrial activities as well as office, retail and hospitality uses, subject to meeting planning standards.

Nearby properties are home to a variety of industrial activities including bulk storage, warehousing, manufacturing and engineering.

Mr Evans said the property at 31 Thames Street offered multiple options for owner-operators, developers or land bankers to acquire a prime location in the Pandora industrial area.

“The owners explored building alterations five years ago and this design is available to buyers seeking to add value to the site. Further possibilities include adding a small workshop and trade retail showroom alongside the office accommodation,” he said.

“Alternatively, the site could be completely redeveloped to fully capitalise on the potential presented by the permissive Main Industrial zoning.”

Mr Evans said industrial property remained in high demand for investors, developers and owner-occupiers.

“In Hawke’s Bay this is no different, especially in Napier where there is a limited supply. This property offers a strategic position within the Pandora industrial area, with frontage onto Thames Street providing easy access to Napier Port, Hawke’s Bay Airport and the Hawke’s Bay Expressway connecting to state highways north and south,” Mr Evans said.

“It’s about six minutes’ drive from Napier’s central business district, three minutes from the large-format retail outlets on Prebensen Drive and seven minutes from the industrial areas at Onekawa. Recent roading changes have resulted in a significant increase in north-south traffic through Pandora from Onekawa.

“This well-located property will appeal as a versatile and affordable investment or development opportunity, and will also be of interest to owner-occupiers seeking a business presence in Pandora. The option of a one-year vendor leaseback is an added bonus providing holding income as a new owner develops plans to occupy or redevelop,” Mr Evans said.

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