A top-quality new build under construction in Hastings is available for lease and offers prospective occupants the opportunity to set up their operations on a key arterial route.
Located at 1004 Karamu Road North, the 519sq m property will be well suited to a variety of uses, including commercial services or light industry businesses.
The incoming tenant will have the ability to work alongside the developer to create something that will fit their specific requirements.
The new building will offer excellent signage and branding opportunities with prominent positioning to Karamu Road, which has high traffic volumes, meaning strong exposure for the future tenant.
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The design also allows for six dedicated on-site car parks.
The location is tightly held and neighbouring tenants include electrical wholesaler J.A. Russell, two service stations, and popular local firm Mag & Tyre Warehouse.
There is also a range of amenities nearby, including food and beverage outlets, while the CBD can be reached in under 10 minutes.
State Highway 2 is only 6.4km away offering access to the wider Hawke s Bay region.
Colliers Hawke's Bay Director Danny Blair has been exclusively appointed to lease the property via negotiation and practical completion is forecast for Q1 2025.
Blair says the prominently positioned property will enjoy strong road exposure and high levels of visibility.
"Having the opportunity to secure a brand-new premises may be the catalyst for a nationally known business to expand their operations into Hawke's Bay," Blair says.
"Alternatively, a local firm may make the most of this and look to move to a new facility for themselves.
"With completion set for early next year, the new occupant of this property will be able to strategically plan their future moves with time on their side."
Blair also recently leased the neighbouring building to J.A. Russell who have agreed to a 10-year lease from completion with further rights of renewal.
"They recognised the potential of this strategic location and have committed to a long-term lease."
Following the devastation of Cyclone Gabrielle that impacted Hawke s Bay in early 2023, the recovery for the region has taken shape.
There are also strong underlying fundamentals that make the area a desirable location for business given the steady growth of the Hastings District's economy in recent years. In the year to March 2023, GDP growth was 2.1 per cent.
As of December 2023, there were 11,058 businesses in the Hastings District, marking 2.3 per cent of growth for the year, according to data from Infometrics.
Data from the most recent Census notes the population of the Hastings District grew by 5.4 per cent between 2018 and 2023, which will continue to drive demand for commercial services in the area.
- Supplied by Colliers
