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NZ Jewellery store humming along

Property Here - Wednesday, June 05, 2013

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Art deco hub is a gem of a site for burgeoning Napier business.

Beija Flor sells world-class jewellery brands. Photo / Supplied
Beija Flor sells world-class jewellery brands. Photo / Supplied

A successful boutique fashion jewellery and accessories business occupying a prominent corner site at the main intersection in Napier's CBD is being marketed for sale as a business going concern within leased premises.

Called Beija Flor, Portuguese for "hummingbird", the business at 64 Hastings St, Napier, on the corner with Tennyson St, was established in 2010 by well-known Napier businesswoman Kathleen Robins.

The business holds the exclusive agency in Hawke's Bay for one of the world's most recognised jewellery brands, Pandora, and also sells other well-known brands like Thomas Sabo, Karen Walker, Briarwood, Najo, Boccia Titanium, Ice Watch, Olga Berg, LouenHide, and Dyrberg/Kern.

"This business is strategically located at Napier's busiest intersection," says James Haggerty of Bayleys Hawke's Bay, who is marketing it for sale by negotiation with colleague Russell Hannah. "It has been thoughtfully established and well-operated and is also definitely boosted by its high-profile retail position."

Hannah says the surrounding commercial area is "a high-end retail precinct" with businesses housed in renovated art deco buildings. "Enduring neighbouring businesses that entice shoppers include Statements Gallery Ujazi Cafe, Degas, and Alexanders menswear."

Beija Flor occupies a street-level 130sq m store within the art deco Masonic Hotel building which was designed in 1932 by Wellington architect W.J. Prowse. It replaced the earlier Masonic Hotel that was mainly destroyed by fire during the 1931 Hawke's Bay earthquake.

The jewellery business has a three-year lease from August, 2010, with two further three-year rights of renewal and two-yearly rent reviews. The final expiry is December, 2019, and the current rental is $44,000 plus GST per annum.

Haggerty says the store has a quality, stylish fit-out with clean lines and clever lighting. "Beija Flor would suit an owner/operator with a keen interest in jewellery and fashion, and someone who understands the value of these very sought-after ranges.

"The business would reward a new owner who has the ability to take the Pandora range, particularly, to the next level, or a discerning investor looking for a high yield return available from marketing this exclusive range."

Beija Flor operates a Pandora retail model of a "shop in shop", meaning there is a clearly defined space within the retail premises dedicated to the Pandora ranges and displayed in Pandora-specific cabinets.

The Pandora brand began in Denmark nearly 30 years ago and today it encompasses a wide range of jewellery options sold in more than 65 countries. Pandora charm bracelets, introduced in 2000, have a patented threading system with keepers that allow charms to be placed, added and rearranged according to their owners' preferences.

Robins says the brand has been a key part of her success story as a jewellery retailer, with Pandora representing more than 50 per cent of her turnover - a figure she believes will continue to grow.

Haggerty says Beija Flor was recognised in the Napier Inner City Customer Awards, coming third in both the Emerging Business and Retail Excellence categories in 2011.

"The business has well-honed operating systems and an extensive active client database. The current owner also utilises social media such as Facebook to interact with a growing client base," he says.

"Well-trained and capable staff are a definite asset to this operation and this business could suit an investor looking to remain hands-off in the day-to-day running of the store."

The business is being sold with the entire shop fit-out and chattels including a ceiling mounted, suspended light feature depicting hummingbirds and containing Swarovski crystals; four security cameras; Pandora branded cabinetry; and office equipment including four iMac computers.

What's on offer

On the market: Jewellery business.
Address: 64 Hastings St, Napier.
Agents: James Haggerty & Russell Hannah of Bayleys Hawke's Bay.
Sales method: By negotiation.
Features: High-profile corner position
Exclusive rights to Pandora brand.