Home of acclaimed Napier restaurant for sale

The home of one of Hawke’s Bay’s and New Zealand’s finest restaurants is up for sale.

The unmistakeable singlestorey blue bungalow housing the Pacifica restaurant sits on Napier’s Marine Parade, and has become synonymous with award-winning dining in the city.

The dining room seats just 30-35 guests and offers Pacific-themed, seafood-led degustation-only dining. It has won multiple awards, including a prestigious ‘‘threehats’’ score from Cuisine magazine’s annual restaurant judging.

The tenancy generates an annual net rental return of $37,200 plus outgoings and GST, on a lease with final expiry in 2025.

The freehold land and building at 209 Marine Parade, Napier, comprise the 121-sqm building on an approximately 185-sqm site.

Built in 1923, the premises have operating as a restaurant since 1984.

Jodie Woodfield of Bayleys Napier said that the building had been re-piled and fully refurbished, resulting in the elegantly designed and creatively decorated restaurant seen today.

‘‘One of the site’s biggest advantages is its frontage to Napier’s most iconic waterfront street, Marine Parade, providing a busy urban outlook and long-term potential for the new owner,’’ she said.

The subject property forms part of the city’s fringe commercial zone and sits within an area earmarked for $55 million in public investment. Residential activities are also allowed in the zone.

Woodfield’s colleague, Kerry Geange said the

sale was ‘‘a chance to claim a rare stake in Napier’s popular waterfront, offering a freehold landholding in a premium location with the security of an established tenant’’.

‘‘It also presents interesting future options. A savvy buyer could use the income to prepare their long-term plans to add significant value, to repurpose or redevelop the site – perhaps even to use the site as their future sunny retirement home or inner-city lockand-leave location.’’