A New Lease on Life – Transforming Hawke’s Bay’s Landmarks

Since its establishment in Hawke’s Bay Colliers has played key roles in the sale of properties for redevelopment, allowing developers to reincarnate older and underutilised buildings.

Its brokers’ ability to visualise and understand the needs of developers and tenants alike has not only preserved pieces of the region’s history but has also revitalised communities, breathing new life into Hawke’s Bay’s commercial landscape.

One of the earlier examples of Colliers’ involvement was the sale of Cosmopolitan House, Marine Parade, Napier, in 2012. This sale enabled the redevelopment of the building into modern A-Grade office space. In addition, Colliers successfully secured leases across multiple floors, which now house blue chip tenants such as PWC, ASB Bank and The Property Group.

At that time Napier was in great need of quality office accommodation and the desire for high quality was evident, with the building being predominantly leased up prior to completion of its construction.

This sale and redevelopment project marked a significant shift in the commercial real estate landscape of the region, becoming the largest A Grade office building in Napier at the time attracting new business tenants and setting a precedent for modern office spaces in the city.

Another standout transaction was the sale of the old Hawke’s Bay Today building in Queen Street, Hastings. The building which was in a state of disrepair and had been sitting vacant for more than 6 years.

In 2018 Colliers sold the property to Hansen Property Group Limited. The property was reborn as The Tribune after redevelopment, with Hansen’s vision to restore part of the heritage-listed building while modernising the rest to create a vibrant multi-use complex.

Colliers was appointed exclusively to market this project for lease, the quality of tenants secured has played a crucial role in the revitalisation of Hastings’ eastern CBD, offering retail, office and hospitality spaces that attract both locals and visitors.

The strong mix of tenants such as Willis Legal, Glen Cook Technologies and a mix of hospitality including the legendary Brave Brewing has played a massive part in this project. Hansen Property Group and Colliers being selective with the right tenant mix has been evident in the success of The Tribune and business precinct Hastings now has.

In 2021 Colliers facilitated the sale of the old Hastings Health Centre at 101 Queen Street, Hastings, which had served the community for decades. This was redeveloped into a commercial space housing Westpac, Ask Your Team, Hawke’s Bay Regional Council, Hawke’s Bay Chamber of Commerce and New Zealand Trade and Enterprise.

The heritage building underwent an extensive renovation, seismic upgrade, and demolition all internal fitout, presenting the building as new quality A Grade office space, which Hastings had been lacking for some time. The new Westpac branch opened its doors in April 2022, the first of their new style of Westpac branch in New Zealand. Colliers’ input to this redevelopment was significant given it didn’t just sell the property but leased all tenancies of the 2730 sq m building.

Blair says “This is what separates Colliers from our competition. It’s one thing to sell vacant neglected properties, that’s one step, but to be able to provide quality tenants and help explain the vision and where the end final product will end up is another. We have been involved in dozens of these types of projects which we see as our bread and butter.”

Through these strategic transactions and leasing services, Colliers Hawke’s Bay continues to play a key role in enabling the revitalisation of the region’s commercial landscape. While it may not be the one redeveloping these properties, its expertise in facilitating these sales and securing tenants is essential to breathing new life into Hawke’s Bay’s iconic buildings.