Colliers is delighted to introduce a quality addition to the market – 110 Dickens Street, Napier. Demonstrating an impressive net return of $182,440 + GST, this high profile property presents an exceptional prospect for investors in pursuit of an uncommon blend: substantial returns coupled with upside. The fully tenanted commercial property located on the corner of Dalton and Dickens Streets comprises two tenancies across a 715sqm floor area, benefiting from over 50 metres of street frontage. The hugely popular Angkor Wat bakery have resigned a 4 year lease on the 180sqm ground floor tenancy, whilst EIT have agreed commercials for a further term occupying the remainder of the building over multiple levels.
The heritage rich structure was originally erected in 1934 as the ‘State Theatre’ and underwent an exhaustive redevelopment in 2014. The property retained its Art Deco façade, while the remainder of the edifice underwent comprehensive reconstruction. The resulting upscale finish is a testament to its transformation. With its generous proportions and lofty ceilings, the property's versatility extends beyond the realms of traditional offices and retail spaces, accommodating possibilities such as educational facilities and recreational establishments.
Situated in a popular part of Napier with Inner City Commercial zoning, this 595sqm freehold property is for sale priced at $195,000 plus GST. Contact Ash or Calum for further information.
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