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Pioneering radio station building for sale

The land and building which once housed the first radio station to broadcast across the Hawke’s Bay out of Napier have been placed on the market for sale.

Media Release

5.2.2019

Pioneering radio station building for sale has property investors tuned in

The land and building which once housed the first radio station to broadcast across the Hawke’s Bay out of Napier have been placed on the market for sale.

The two-storey C.B Hansen and Coy Building in Napier’s art deco precinct was built in 1933 and is registered in Napier City Council’s Art Deco Inventory of architecturally-important buildings in the city.

The property’s original owners were automotive electrical firm CB Hansen which ran its workshop from the lower floor and leased out the top floor to Radio New Zealand for its Hawke’s Bay broadcasting and newsroom studios.

The top floor of the premises at 73 – 81 Dalton Street was converted to a restaurant in the mid-1990s – with Italian eatery Casa Gardini serving pizza and pastas from the premises until 2002 when the restaurant was converted into office space. During the 1980s the street-level space was occupied by Brian Athea Antiques, with a car audio retailer operating from the site in the early 2000s, and it has also housed an Asian grocery store.

Now the 412 square metre building sitting on some 326 square metres of freehold land is being marketed for sale by deadline private treaty through Bayleys Napier, with offers closing on March 6. Salesperson Sam MacDonald said the building had undergone a recent major structural strengthening and modernisation programme.

“The interior has tastefully redecorated to authentic art deco guidelines which have seen leadlight windows and period doorways installed, with the high stud walls retaining stark white lines, and polished concrete flooring,” he said.

“The refurbishment programme also saw new electrical wiring and lighting installed, new plumbing, a fire alarm system, electronic key tag entry system, and air conditioning units installed, a new roof affixed, and the complete upgrading of the rear deck area at the back of the upper level,” Mr MacDonald said.

“The end result is one of Napier’s most well-presented art deco commercial properties which now seamlessly combined the flamboyant character of the 1930s with the modern design sophistication of today.

“The outdoor deck area shared by the tenants on the upper level for example brings a taste of ‘big city’ chic to the location – and is used almost daily as an al-fresco dining room, or for drinks and socialising after work.”

Property records show the C.B Hansen and Coy Building is constructed on a concrete floor base with reinforced brick walls and timber framed wood truss roofing. An internal staircase off Dalton Street gives access to the upper floor, while the tenancy at the rear of the premises is accessed by a private service lane leading to three tenant car parks.

Mr MacDonald said the building had a diverse tenancy schedule with multiple revenue streams.

The property at 73 – 81 Dalton Street generates annual rental of more than $137,000 from six commercial tenancies, including:

• Peppers Hair and Beauty Boutique occupying 55 square metres of space on a lease running through to 2023 with two further three-year rights of renewal, generating rental of $24,000 plus GST per annum.

• Jellybean Brewing Supplies occupying 58 square metres of space on a lease running through to 2023 with two further three-year rights of renewal, generating rental of $16,970 plus GST per annum.

• Corporate branding design and marketing company Media Mint occupying 107 square metres of space on a lease running through to 2023 with three further three-year rights of renewal, generating rental of $30,000 plus GST per annum.

• An asset management company occupying 55 square metres of space on a lease running through to 2021 with three further three-year rights of renewal, generating rental of $24,000 plus GST per annum.

• Massage parlour Club Rendezvous occupying 125 square metres of space on a lease running through to 2020 with two further two-year rights of renewal, generating rental of $30,515 plus GST per annum.

and

• E-bike retailer Vallkree occupying 16 square metres of space on a lease running through to 2020 with two further two-year rights of renewal, generating rental of $12,000 plus GST per annum.

Dalton Street is located in the heart of Napier CBD and just a short walk from two Napier City Council operated car parks.

© Scoop Media

 
 
 
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