Colliers proudly presents the Bowman Building to the market, a timeless masterpiece in the heart of Napier’s Art Deco Quarter, available for the first time in over 50 years. Designed by JA Louis Hay in 1932 and designated a Historic Category 2 building, this iconic property offers investors robust and reliable returns. This fully leased gem features eight retail tenancies on the ground floor who account for approx. 80% of the income and nine offices on the first floor, delivering an impressive net return of approx. $451,256 + GST. Recent lease renewals from key ground floor tenants, including Michael Hill Jeweller and Alexander Menswear, affirm its reliability. With some of the highest foot traffic levels in Hawke’s Bay, the appeal is evident.
Sitting prominently on Tennyson, Emerson and Market Streets, it's a must see of the Art Deco circuit with all tenants benefiting from the outstanding location. The service lane creates a distinctive layout for ground floor retail spaces, while the modernised first-floor offices, accessed via a grand stairwell and wide hallway, maintain much of the buildings original features.
Seize the opportunity offered by this prime retail location, surrounded by local, national, and global brands. Invest in a piece of Napier's rich history while securing a stable income. For further information, contact Ash Hames.
Features:
* Floor area 1730m²
* Net return $451,256 + GST (approx.)
* Fully leased
