Thriving & future-proofed retail centre
112, Whitford Road, Somerville, Manukau City
Price On Application
- Proposed Usage
- Floor Area
- 5215.00 m²
- Land Area
- 18860.00 m²
- Property ID
• Prominent suburban shopping centre on substantial freehold site
• Currently returning $1,314,267 plus GST net (pa) and anchored by Countdown
• Strong 5.4 year Weighted Average Lease Expiry
• Strategically positioned in the established and growing Howick Ward
• 18,860sqm landholding with development intensive zoning
Meadowlands Shopping Plaza is an established neighbourhood shopping centre. Built in 1993, with a major renovation in 2011, its income stream is anchored by national grocery chain Countdown and numerous long-standing national tenants including Unichem and AA. The Plaza has proved to be popular with its surrounding and established residential catchment which includes the affluent East Auckland suburbs of Botany Downs, Dannemora, Howick, Cockle Bay and Whitford.
The value of this opportunity is future-proofed by its substantial 18,860sqm freehold landholding, with development intensive zoning allows buildings up to four storeys high and a range of potential uses, including residential.
This is an attractive investment opportunity offering a strong WALE, exceptional tenant covenant and a significant underlying land area that provides substantial long term development prospects.
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