Anchor tenant sought for marina

5:00 AM Saturday July 8, 2017 True Commercial

An artist’s impression of the hospitality venue planned for Opua Marina. Photo / Supplied

A Far North hospitality venue planned to overlook one of the country’s newest marina developments, is available for lease.

The 200sq m site at the Bay of Islands Marina in Opua, Northland, is at the eastern tip of the recently opened Twin Coast cycleway, which runs through to Horeke in the Hokianga.

The Opua land and buildings are owned by Far North Holdings Ltd — the commercial operations and business development subsidiary of the Far North District Council.

Rental for the Opua waterfront premises has been set at $260 per sq m with no additional rental for either the 100sq m of alfresco customer seating outside the front of the building, nor for the eight car parks associated with the property’s commercial use.

Leasing of the space is being jointly undertaken by Irene Bremner of Bayleys Paihia and Nelson Patchett of Bayleys Auckland.

The two-storey premises — with three separate apartments on the upper level and cafe/retail on the ground floor — is immediately opposite the Opua Marina, Stage Two of which opened earlier this year.

Bremner says operational expenses of the new build will be lower than those associated with older style premises and the property meets all the new building standards.

“As an additional tenant incentive, Far North Holdings Ltd is offering a three-month rent-free period while the internal fit-out work is done,” she says. The new venue will benefit from the 173-berth extension of Opua Marina — which has increased mooring space to accommodate up to 423 vessels.

Economic research consultancy Market Economic has calculated that the expanded berthing facility will create up to 70 full time jobs.

The report says the marina’s wider economic benefit will be worth in the region of $23m annually, following the initial five-year establishment period.

Far North Holdings Ltd chairman Ross Blackman says the maritime estate at Opua has already fostered the establishment of 63 commercial businesses employing 250 people. “Extending the marina will strengthen these businesses and create opportunities for growth.”

Patchett says the new food and beverage operation available for lease on the Opua seafront hub will capitalise from the marina’s next phase, with a growing number of boat owners taking possession of their moorings.

“Obviously with a substantial number of new moorings being populated, a savvy food and beverage or hospitality operator will look at establishing a providore catering service — thereby effectively doubling revenue streams by offering on and off premise options,” Patchett says.

“That could be anything from sandwiches and packed lunches for day trips, through to menu-planned breakfast/lunch and dinner packs for up to a week on the water.”

Patchett says a new cafe venue will also ‘book-end’ either the start or finish of the Twin Coast cycle trail, which opened earlier this year.