Dominant retail offering on Auckland's North Shore
Bayleys in association with Knight Frank and Colliers are delighted to present a truly unique opportunity to acquire a 49% non-management share in five high-performing regional shopping centres across New Zealand. This portfolio includes Westfield shopping centres located in Newmarket, Albany, St Lukes, Manukau, and Riccarton, generating a combined $237.61* million in fully leased net income across 280,504 square meters of prime retail lettable area.
Located 15km north of Auckland's CBD, Westfield Albany is a 3-level regional shopping centre boasting a strong retail environment with complementary large format stores nearby. Since opening in 2007, the centre has become a popular destination, anchored by major retailers Kmart, Farmers, Event Cinemas, and New World. Additionally, it features 10 mini-majors, 106 specialty stores, 21 kiosks, and ample parking for 2,373 vehicles.
Westfield Albany has significant room for expansion and extensive land holdings exceeding 238,000sqm.
https://cloud.realestate.colliers.com/ultimate-nz-retail-portfolio
Investment highlights:
- 98.5% occupancy rate.
- MAT of $446.5 million**.
- Specialty sales productivity of $15,768/sqm**.
- Close direct access to the Auckland-Waiwera Motorway (State Highway 1).
- Foot traffic of 8.5 million customers in 2023***.
- 920,000 customers within a 30-minute drive***.
- Total trade area estimated retail spend of $7.5 billion in 2023***.
For further information on the sale process or to arrange an inspection, please contact the exclusive selling agents.
All figures are approximate and site boundary outlines are indicative only.
*Estimated NOI at June 2024
**GST inclusive, based on December 2023 figures
***Scentre Group 2023 Property Compendium
Located 15km north of Auckland's CBD, Westfield Albany is a 3-level regional shopping centre boasting a strong retail environment with complementary large format stores nearby. Since opening in 2007, the centre has become a popular destination, anchored by major retailers Kmart, Farmers, Event Cinemas, and New World. Additionally, it features 10 mini-majors, 106 specialty stores, 21 kiosks, and ample parking for 2,373 vehicles.
Westfield Albany has significant room for expansion and extensive land holdings exceeding 238,000sqm.
https://cloud.realestate.colliers.com/ultimate-nz-retail-portfolio
Investment highlights:
- 98.5% occupancy rate.
- MAT of $446.5 million**.
- Specialty sales productivity of $15,768/sqm**.
- Close direct access to the Auckland-Waiwera Motorway (State Highway 1).
- Foot traffic of 8.5 million customers in 2023***.
- 920,000 customers within a 30-minute drive***.
- Total trade area estimated retail spend of $7.5 billion in 2023***.
For further information on the sale process or to arrange an inspection, please contact the exclusive selling agents.
All figures are approximate and site boundary outlines are indicative only.
*Estimated NOI at June 2024
**GST inclusive, based on December 2023 figures
***Scentre Group 2023 Property Compendium
Key features
Zoning
Extensive land holdings and development potential (STCA).
Catchment
A catchment of 920,000 customers within a 30-minute drive.***
Occupancy
Specialty sales productivity of $15,768/sqm.**