An award-winning central Napier retail premises which won high praise for its architectural integrity following a major structural restoration project has been placed on market for sale.
The Haynes Building at 136 Hastings Street in Napier was constructed in 1933 as the meat outlet for Haynes Butchery - which proudly displayed sausages and steaks in the front windows, with row upon row of sheep and beef cuts hanging from hooks inside the store in front of classic white-tiled walls.
The building is listed under the Napier District Plan as a group one property – the highest heritage rating in the classification programme. As a precautionary measure following the Canterbury earthquake in 2011, the Haynes Building was substantially seismically-strengthened and structurally modernised while still retaining its 1930s period-look.
During the process, particular attention was given to enhancing the art deco period paintwork, signage lettering and font on the building’s façade.
The resulting impressive upgrading works at the Haynes Building went on to win the Supreme Award at Hawke’s Bay’s Art Deco Trust Architectural Awards in 2013. The single-level building now houses the Charleston Pharmacy chemist shop , and has a new build standards (NBS) rating of 67 percent.
The rectangular-shaped single-storey Haynes Building occupies the entire 237 square metres of land on the site, which is zoned Inner City Commercial – Art Deco Quarter under the Napier City Council plan.
Charleston Pharmacy is currently on a lease running through to 2021 with two further four-year rights of renewal, generating net rental of $71,407 plus GST per annum.
Now the Haynes Building freehold land and building are being marketed for sale through Bayleys Napier. Salesperson Sam MacDonald said the property was being sold as an investment opportunity supported by its strategic location.
“The Haynes Building and the Hastings Street quarter in which it sits straddle an area of Napier where the culturally-rich art deco architectural style of the CBD melds into the city’s big box retailing scene personified by the likes of the Farmers Department Store, Noel Leeming, Macpac, The Warehouse, Rebel Sports and Khatmandu,” Mr MacDonald said.
“As a consequence of this incredibly varied retailing mix and the high concentration of art deco structures, Hastings Street has one of the highest foot traffic counts in the city – conversely resulting in the precinct having one of the lowest retail vacancy rates of any Napier retail or commercial strip.”
Built on concrete foundations supporting reinforced concrete column walls with masonry infill, galvanised steel roofing, and aluminium window and door framing, the Charleston Pharmacy store has an open-plan format typical of a suburban chemist shop selling the full gamut of healthcare products and dispensing prescription medicines.
To maximise its retailing attraction, the building’s frontage onto Hastings Street features large bi-fold doors and a large window display – both of which sit under a suspended canopy attached to the main body of the building by diagonally-fixed steel struts. Next door is upmarket homeware supplies store Stevens.
Mr MacDonald said an independent valuation report on the property completed by property services firm Telfer Young confirmed that small retailing was the best use of the Haynes Building property from a rental return perspective.