Silverdale hospitality business and premises

6:39 PM Friday September 29, 2017 True Commercial

The European-styled the 60-seat Millwater Bistro and Bar features a modern interior fit-out. Photo / Supplied

A hospitality business and property for sale on Millwater Parkway, Silverdale, is described as profiting from expanding residential, retail and commercial development in the wider Hibiscus Coast area.

The Millwater Bistro and Bar business, with its 154.43sq m 60-seater freehold premises, is being marketed for sale by negotiation through Colliers International brokers Shelley May and Sean Honeycombe.

They say the European styled wine bar and bistro benefits from low rental costs and a skilled workforce - having established strong regular clientele since opening in 2016. It will also draw more customers from the nearby Millwater area, a new housing development comprising 3000 sections that is soon to house over 10,000 residents.

Owner-operator and hospitality expert Corey Stevens says its reputation for exceptional service, outstanding chefs and one of the North Auckland’s best wine lists provides a unique offering, as the precinct’s only classic local licenced venue.

“Millwater has the vibe of a city-styled bar with the community, laid back-feel of your local haunt,” he says.

“The recent change in drink driving laws makes this an easily accessible locale for surrounding and increasing residential development, servicing also people from the areas of Whangaparoa, Red Beach and Orewa.

“Many of the latter customers imbibe our higher-end selection of wines, liquors and spirits as an increasing number of inner-city Aucklanders make the lifestyle move north.

“We’ve reluctantly decided to sell, repositioning our priorities away from an industry inherently suited to couples without the demands young family life and other hospitality ventures.”

The building’s high quality, modern fitout with a 110.63sq m internal area and 43.80sq m deck area was developed by Broadway Property Group in 2015.

Of precast concrete construction, the property has a fibre optic network, and reticulated and glazed frontages.

True Commercial - 175 Millwater Parkway%2c Silverdale - aerial with blue border .jpg

The business is located in the Millwater Parkway, Silverdale, and identified by a blue border in this photo. Photo / Supplied

Millwater Bistro and Bar opens Monday to Sunday, 11am-12am, earning weekly sales in excess of $12,000.

In addition to the business’ liquor licence, its retail licence allows for a secondary profit selling wine and food to customers.

May, a broker with Colliers’ Business Sales and Capital Solutions team, says the business is ahead of its time and set to capture growing demand for hospitality in the area, which is soon to realise its full potential.

“Millwater Bar and Bistro is ideal for a couple in the hospitality industry looking to find a dual business and commercial building offering — a rare opportunity to be their own landlord, benefitting from the sound foundations laid to continue monopoly of the area,” she says.

“Corey is an experienced hospitality professional, having successfully established and operated three other hospitality ventures across the CBD and Freemans Bay — one of which is the Oak Room in Victoria Park.

“The seasoned hospitality professionals behind Millwater Bar and Bistro have applied energy and heart into building a reputation with locals — for example driving customers home after a few drinks.

“This really is an easy hand over for the next business owners — all the hard work has been done here.”

Silverdale is one of the fastest-growing areas of New Zealand, with significant commercial development and thousands of new homes being built or planned nearby.

This property’s zoning under the Auckland Unitary Plan allow for a mix of residential and commercial activities up to 18m in height, making it a superb investment in a growth area.

The business is located amid a diverse mix of local and large retail and commercial centres, including the new Silverdale Mall.

A swimming centre, gymnasium, world class playing fields as well as kindergartens and secondary schools with high decile rankings are all nearby as well as three international golf courses, numerous parks, walks and reserves as well as nearby beaches.

Recent considerable government expenditure on roading and infrastructure has effectively brought the Hibiscus Coast to within a 30-minute drive of the Auckland CBD, and the business is ideally accessible to three motorway entry points to Albany or Auckland City.