The freehold workshop-and-office property at the corner of Peel and Kahutia streets has become known to locals as the home of Te Rau Print & Copy.
With a pedigree dating to the 1870s, the business began with a printing press based at the historic Te Rau Kahikatea homestead, one of the city’s earliest surviving houses, to meet the printing needs of early missionaries.
Now on the market for the first time in over three decades, the Peel Street property is being offered to new owners with vacant possession. The versatile site, including significant additional yard or parking space, is expected to have strong appeal among owner-occupiers and add-value investors.
The freehold land and building at 135 Peel Street, Gisborne, are being marketed for sale by Mike Florance of Bayleys Gisborne.
Sale is by way of a tender closing on Wednesday 10th May, unless the site is sold earlier.
Florance said the property consisted of an approximately 630-square-metre building on some 1,549-square-metres of land, with plenty of secure off-street parking.
“The building contains a ground-floor reception and office area, plus first-floor mezzanine office and kitchen facilities that open out to a deck. The balance of the building consists of fully air-conditioned and sprinklered open-plan workshops.
“These were at the heart of the print and copy operations but would lend themselves to use by a wide range of businesses in areas such as creative industries, foodservice, trade showrooms, light engineering or automotive services,” said Florance.
Fringe Commercial zoning under the Tairāwhiti Resource Management Plan supports a variety of lower-intensity activities such as light industry, manufacturing, bulk retailing and warehouse facilities.
“Coupled with some 900 square metres of additional yard or parking space to the rear of the building, which offers extension or redevelopment potential, this makes the Peel Street site an incredibly versatile opportunity,” Florance said.
The property sits on a prominent corner site which showcases building signage to busy city-fringe traffic volumes along Peel and Kahutia streets.
“Positioned on the periphery of Gisborne’s CBD, it forms part of an area that is fast becoming known for light industry and big-box retail and is seeing historically low tenant vacancies due to heavy demand,” said Florance.
Big-brand occupiers in the immediate vicinity include Bunnings Warehouse, Briscoes, Plumbing World and The AA.
“New owners, and future business occupiers, of the Peel Street site will benefit from a convenient and highly accessible location, handy to bus services and less than 400 metres from the state highway that runs north and south of the city. The property lies close to the CBD and inner harbour precinct as well as the highly sought-after beachfront properties of Salisbury Road,” Florance said.