80 St Lukes Road, Mt Albert, Auckland

Irreplaceable site on the fringe of Auckland CBD

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.

Westfield St Lukes, a cornerstone of Auckland's retail scene for over 50 years, sits just 7km southwest of the city's bustling CBD. The two-level shopping centre opened in 1971 and has undergone several renovations since (most recently in 2004). Anchor tenants including Farmers, Kmart, Countdown, and Event Cinemas draw crowds, while two mini-majors, 132 specialty stores, and 20 kiosks offer diverse options for every taste.

The centre has additional landholdings of 19,036sqm over several ancillary properties, providing significant expansion potential (STCA).

https://cloud.realestate.colliers.com/ultimate-nz-retail-portfolio

Investment highlights:
- 97% occupancy rate.
- MAT of $312.7 million.**
- Specialty sales productivity of $10,879/sqm.**
- Close direct access to the North-Western Motorway (State Highway 16).
- Foot traffic of 5.8 million customers in 2023.***
- 1,435,000 customers within a 30-minute drive.***
- Total trade area estimated retail spend of $6.6 billion in 2023.***
- Parking for 2,018 vehicles.

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 as at June 2024
**GST inclusive, based on December 2023 figures
***Scentre Group 2023 Property Compendium