Major inner-city Hastings commercial investment on the market

Business HQ on Queen Street East boasts leading tenants

Hastings' Business HQ on a prime corner site at 308 Queen Street East, in the heart of the CBD, is on the market with a raft of leading professional firms as tenants.

The opportunity for an astute investor to obtain a quality inner-city Hastings development is being marketed by Colliers International.

Located on a prime corner site at 308 Queen Street East, in the heart of Hastings CBD, Business HQ covers a land area of 5,046sq m and is tenanted by a raft of leading professional firms.

Colliers International Broker Danny Blair is marketing the property for sale by negotiation.

“Business HQ is a major commercial hub on the corner of Hastings Street and Queen Street East, providing international-grade office space for local and national companies predominantly from the business sector,” he says.

The design of the building’s exterior was the work of renowned local architects, Paris Magdalinos Architects.

The building consists of 1,425sq m of new build and 925sq m of extensively renovated and redeveloped space, which meets building code regulations and 100 per cent of earthquake safety standards.

Fronting 100m of Queen Street East, covered walkways provide convenient access to all tenants from the ample on-site and off-street parking in the area.

“The building’s unique design offers large windows that provide generous natural sunlight, gardens and communal outdoor recreational areas, tailored for client entertainment and functions,” Blair says.

Business HQ’s nine tenants include Strata Group, VO2 Hawke’s Bay Limited, Moore Stephens Markhams, Moore Stephens Hawke’s Bay Audit, Jacksons Engineering Advisers, Logan Stone, Fern Ridge Produce, Createus Group and Resource Development Consultants.

The total rental income sits at $481,700 per annum, with fresh long leases in place.

“Being situated on the eastern side of the CBD, Business HQ has excellent access to all areas of Hastings, Havelock North and the expressway to Napier,” Blair says.

“Surrounding buildings of the development include high-profile national tenants such as Harvey Norman, New World, Kmart and five banks.

“Business HQ ticks all the boxes in terms of location, quality of build and strong tenants. The Hawke’s Bay economy continues to remain buoyant and with confidence in the region at an all-time high, an investment in the region is a strategic move.” 

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