Chance to develop Napier’s last fringe commercial corner site

5765 Thackeray Street and 15 Faraday Street Napier  hero

Napier’s last remaining undeveloped, Fringe Commercial zoned corner site is for sale through Colliers International.

Prominently positioned on the busy corner of Thackeray and Faraday Streets, the property provides 3,131sq m of freehold land across six titles.

It features a commercial building, two residential dwellings and vacant land, all with great exposure to one of the key thoroughfares into Napier’s CBD.

The entire site is zoned Fringe Commercial, which allows for a multitude of uses including residential, retail and office, as well as trade supply and light industrial.

Colliers International is marketing 57, 59 and 65 Thackeray Street and 15 Faraday Street, Napier, for sale by deadline private treaty. Offers close at 4pm on Thursday 16 July, unless sold earlier.

Danny Blair of Colliers Hawke’s Bay says the six titles provide an excellent development opportunity if purchased together.

“This high-profile corner site is well positioned in the heart of Napier, within an easy walking distance of the CBD, Mclean Park sports ground, Nelson Park and very good schooling.

“It offers holding income from one commercial and two residential leases, providing solid returns while a new owner plans to unlock the site’s full potential. With multiple titles and a flexible layout, the site is also ideal for staged redevelopment.

“This is the last chance to secure the only remaining undeveloped, Fringe Commercial zoned site in Napier.”

Calum Ironside of Colliers Hawke’s Bay says the property’s exposure and flexible zoning provide abundant options in a proven area.

“The property is well located in Napier’s main vehicle dealership hub, which is home to best-selling brands including Ford, Holden, Toyota and Suzuki.

“Other popular brands in the area include Hyundai, Isuzu and Subaru, alongside European and luxury auto brands Mercedes Benz, Renault, Jaguar, Land Rover, Volvo and BMW.

“Complementary automotive businesses nearby include Repco, Tony's Tyre Service and Hawke’s Bay Auto Electrical.

“The area is also home to a number of convenience and large format retailers, including Pizza Hut, McDonald’s, two Countdown supermarkets, Warehouse Stationery, Jets Gym and a liquor shop.”

The largest lot for sale, at 65 Thackeray Street, comprises an L-shaped site of 1,482sq m spanning three titles. It features a 760sq m building with superb corner profile that has been split into multiple tenancies.

The main tenancy is occupied by the Royal New Zealand Foundation of the Blind, while the other tenancy has been recently vacated.

The adjoining sites at 57 and 59 Thackeray Street are roughly 505sq m each. Both feature 1920s dwellings of 180sq m each over two floors.

The remaining title at 15 Faraday Street is a flat, vacant site of 404sq m that is currently used as excess car parking.

“Whether you purchase to develop or land bank this property, there is a serious upside to be gained,” says Blair.


Related Experts

Danny Blair

Broker

Hawkes Bay

Having worked in commercial real estate since 2006, Danny has over ten years’ experience in the commercial real estate industry and has been involved in multiple transactions throughout the past decade, specialising in sales and leasing solutions for corporate tenants, investors and developers alike.

Before moving back to Hawkes Bay in 2013, Danny worked as a senior broker for NYSE listed Jones Lang LaSalle, specialising in CBD office leasing in Wellington CBD.

Since his return to Hawkes Bay where Danny was appointed as leasing manager, he has concluded over 100 transactions, including Hawkes bays largest office lease, the relocation of Kiwibank’s national call and recovery centre to Hastings from Wellington. In 2015 Danny became a shareholder in Colliers Hawkes Bay and a director in 2017.  Danny handles opportunities across the whole commercial market but his major strengths lie in lease restructuring projects, sales, and development deals. He prides himself on his professionalism and skill in ensuring that projects are managed to the client’s total satisfaction.

In addition to his decades’ experience, Danny’s strengths also lie with the established networks he maintains across the corporate and government sectors nationally, encompassing a variety of complementary professions and skillsets. Danny has the connections and the resources to get the job done.

View expert

Calum Ironside

Broker

Hawkes Bay

Calum Ironside is an Industrial Broker at Colliers International. He has recently joined Hawkes Bays high performing Colliers team, where he will be specialising in Industrial Sales and Leasing.

Calum grew up in Hawke’s Bay and completed his schooling here before heading south to become Tertiary qualified in Economics and Accounting at Otago University, and then completing a Graduate Diploma in Oenology and Viticulture.  

A confident and personable new broker, Calum brings an enthusiastic and analytical approach. Excellent communication skills are a core strength, while also interacting positively and appropriately at all levels. Whether it’s on the golf course or in the office, Calum has a strong desire to compete with the best, and willingness to do whatever it takes to get there.

With the ability to network effectively, as well as be cooperative and friendly, Calum will work collaboratively to deliver high-quality standards and ongoing advice and support.

Having spent the last 2 years managing NZ’s Treasury Wine Portfolio for Asahi Beverages in Auckland and Singapore, Calum’s decided to return home to be closer to his family, while pursuing his keen interest in property.

An avid sportsman, representing Hawkes Bay in tennis throughout most of his childhood, Calum has now turned his love to golf in between doing property deals. Get in touch by phone or find him at Bridge Pa Golf Course most Saturday and Sunday mornings to discuss your next move in Hawke’s Bay Industrial Market.

View expert