New Lynn retail development
Artist’s impression of the New Lynn development due to be completed by mid-to-late 2018. Photo / Supplied
Spaces in a retail development being built on a high-profile New Lynn corner site are now being made available for lease through Colliers International.
The development at 10-32 Astley Avenue, directly opposite Mitre 10 Mega, is due to be completed by mid-to-late next year.
It will offer six to seven large format retail tenancies — 300sq m up to 2257sq m. Colliers International retail national director Leroy Wolland, who is marketing the development with colleague Jessica Martin, says it is positioned to benefit from West Auckland’s growth.
“New Lynn is undergoing a significant renaissance; the suburb is already starting to enjoy the benefits of new housing and infrastructure investment,” he says.
Wolland says the development, is ideally suited to a mix of retail, trade retail and recreational uses.
“The prominent location on a busy corner opposite the main customer pedestrian entrance to Mitre 10 Mega gives it excellent exposure to that retailer’s customers,” he says.
“It’s a great spot for the likes of furniture, homeware or appliance retailers. It’s also well-suited to trade retailers, including plumbing, flooring, tile, lighting, electrical or kitchen showrooms.”
The anchor tenancy of up to 2257sq m is in a standalone building, prominently positioned at the north of the site adjoining Neville St. The building can be split into two tenancies.
A second building comprises four retail units of 260sq m, 315sq m, 350sq m and 371sq m. The units can be combined to form a single tenancy of up to 1296sq m retail space.
“The development has been designed to allow those tenants who commit early enough to take a tenancy to their specific size requirements,” Wolland says.
“Units of these size are particularly attractive in such a tightly held area.”
“It’s hard to find good retail spaces of 300sq m or more around New Lynn, so the chance to seize a prime spot in a brand new development is very attractive to a range of large format retailers.”
The five main retail tenancies will face Astley Avenue, directly opposite Mitre 10 Mega, giving them good street front exposure.
The retail mix will be complemented by a small standalone 105sq m cafe at the northwest of the site and more than 100 customer parks will be available on-site in front of the units. Service access will be via a driveway running from Neville St along the site’s eastern boundary.
The property owner, White Cliffs Timber, is developing the property. Founded by the Taylor family more than 80 years ago, the company has operated a timber yard and office on the site since the 1940s.
Wolland says the family watched New Lynn grow over the decades, and recognised the site was being under-utilised as a timber yard.
“With the neighbourhood changing rapidly in recent years, the Taylors believe it makes sense to put the property to better use,” he says. “The family will continue to own the site, but allow it to be opened up to retail development that will benefit local businesses and the community.”
Martin says the total catchment is expected to undergo strong growth, from a population of 205,610 in 2018 to 259,520 in 2038. “This tremendous growth is likely to drive buoyant retail conditions in New Lynn and the wider catchment area.”