Retail and office space in new hotels

7:06 PM Friday May 10, 2019 Paul Charman

An artist’s concept of the Ramada Manukau Pacific Centre now being built at 770 Great South Rd. Photo / Supplied

Multiple retail units and office spaces are available for sale and lease within four-star hotels now under construction in Auckland.

The units are within the mixed-use Ramada Victoria Hotel and Suites at 147 Victoria St West and the Ramada Manukau Pacific Centre at 770 Gt South Rd.

The CBD site offers retail spaces on the ground floor, plus a mezzanine-level office tenancy. These are for lease or sale in a complex also housing 48 serviced apartments and 63 residential ones.

Ramada Victoria Hotel and Suites tower is being built at a cost of $74.4m with the units for sale or lease there comprising:

  • Tenancy 1, an 83sq m site fronting on to Victoria St;
  • Tenancy 2, a 109sq m site on the high-profile corner of Victoria and Graham Streets;
  • Tenancy 3, a 71sq m site fronting on to Graham St;
  • Tenancy 4, a 119sq m site fronting on to Graham St; and
  • Office space 009, a 67sq m mezzanine-level floor plate, with entry off Graham St.

All tenancies/ownerships will be available from when the Ramada Victoria Hotel and Suites opens in August.

In South Auckland, the ground floor retail spaces within the Ramada Manukau Pacific Centre are also for lease or sale.

True Commercial - Ramada Hotel Victoria St - artist's concept - reduced.jpg

The Ramada Victoria Hotel and Suites at 147 Victoria St West. Photo / Supplied

These contain 85 serviced apartments plus 67 residential ones to a total value of $70m.

The Manukau hotel features a mix of studio, one and two-bedroom units, while those for sale or lease, comprise:

  • Unit 1, a 146sq m ground floor space suitable for a hospitality or food and beverage tenant seeking to service both hotel guests and businesses in the immediate vicinity. This is offered for rent at $73,000 plus GST per annum, or for sale at $1.46m; and
  • Unit 2, a 129sq m space suitable as a showroom or retail location offers good visibility. This is offered for rent at $64,500 plus GST pa, or for sale at $1.29m.

Just as at Victoria St, these tenancies and ownerships can commence from August.

Sale and lease negotiation processes at both locations are being managed by Bayleys Real Estate.

The national director for retail sales and leasing at Bayleys, Chris Beasleigh, says the two new Ramada hotels are targeting domestic and international tourists. Prospective tenants at the locations will piggy-back off that clientele mix.

“At Ramada Victoria most room-night bookings are expected from international tourists transiting through Auckland, plus domestic business sector guests attending conferences, conventions, and exhibitions at the nearby SkyCity Convention Centre which opens in the second half of 2020,” Beasleigh says.

“Likewise, the Ramada Manukau Pacific Centre forecasts guest night bookings split fairly evenly between international organised tours flying into Auckland before heading for the likes of Hobbiton and Rotorua — or domestic conferences, conventions, and meetings at Vodafone Events Centre.”

Safari Group (NZ) Ltd is developing both Ramada properties, having been involved with similar Ramada projects at Newmarket, Albany, Federal St and Queenstown.