Newmarket
277 and 309 Broadway, Newmarket, Auckland
Expressions of Interest
Premier luxury shopping/entertainment destination
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 $237.6 million* in fully leased net income across 280,504 square meters of prime retail lettable area.
Nestled 4km southeast of Auckland's CBD, Westfield Newmarket reigns as New Zealand's premier shopping destination, renowned for its international luxury brands. This sprawling complex, spread across four levels and two distinct buildings, underwent a comprehensive revitalization, reopening in stages between 2019 and 2021. Anchored by major retailers David Jones, Farmers, Countdown, and Event Cinemas, the centre also boasts 20 mini-majors, 192 specialty stores, including renowned international luxury brands like Louis Vuitton, Gucci, and Moncler, 20 kiosks and 14 modern office suites.
Westfield Newmarket extends beyond its core by incorporating additional strip retail and various ancillary land holdings.
https://cloud.realestate.colliers.com/ultimate-nz-retail-portfolio
Investment Highlights
- Attractive major tenant WALE of 14.02 years by area and 14.01 years by income*.
- MAT of $711.9 million**.
- Specialty sales productivity of $14,473/sqm**.
- Affluent demographic.
- Foot traffic of 13.1 million customers in 2023***.
- 1,485,000 customers within a 30-minute drive***.
- Total trade area estimated retail spend of $8.9 billion in 2023***.
- A world class rooftop food, beverage and entertainment precinct.
For further information on the sale process or to arrange an inspection, please contact the agents.
All figures are approximate and site boundary outlines are indicative only.
*Estimated NOI and WALE as at June 2024
**GST inclusive, based on December 2023 figures
***Scentre Group 2023 Property Compendium
Jason Seymour
Bayleys Real Estate Ltd, Auckland Central,
Licensed under the REA Act 2008
Ryan Johnson
Bayleys Real Estate Ltd, Auckland Central,
Licensed under the REA Act 2008
Features
Opportunity
A world class NZ$790m redevelopment completed in 2021
Anchor tenants
The only David Jones Department store in the country
Occupancy
Strong presence of international and luxury brands unmatched outside the Auckland CBD
Add value
Significant add-value and future development potential
Have your questions answered
Our agents are experts on all things in the property market, if you haven't found what you're looking for, please enquire with the listing agent now to have all of your property questions answered.
Request more information
Contact us and have your questions answered.