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Commercial Property In Napier Sells For $15m

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The sale of a $15 million commercial site in is set to kick off another strong year for the commercial property market in Hawke’s Bay, according to local commercial real estate agent Danny Blair.

96 Austin St has just sold for a total of $15.6m, one of the largest industrial sales Hawke’s Bay has seen for many years under both leasehold and freehold.

FPG (Future Products Group), a world-leading food display and retail solutions business based in Hawke’s Bay have been leasing the property since 2000 and have just signed a new 10-year lease with the new owners.

Commercial real estate agent with Colliers Hawke’s Bay Danny Blair says the sale starts a strong year for commercial sales, freed from the bind of the discussion around Capital Gains Tax.

Photo: 96 Austin St sold for a total of $15.620m and is one of the largest industrial sales Hawke’s Bay has seen for many years.

 For more on this and other great Hawke’s Bay stories go to hawkesbaytoday.co.nz

Posted: 7 June 2019




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