Retail space for sale or lease in M Central
The 11-storey M Central building at 17 Putney Way in Manukau City.
A supermarket area is one of a number of commercial properties for sale or lease within the 11-level M Central tower building which is nearly located in the heart of Manukau City.
The 372 sq m supermarket space forms part of the first two levels of specialty retail stores in the mixed use zone building which encompasses 114 residential apartments on the upper nine levels.
Peter King-Turner of the NAI Harcourts Manukau Commercial team is marketing commercial space within M Central on behalf of the owner says the supermarket space comes with two basement carparks and is now available for sale or lease as a freehold strata title. “The supermarket will support residents of M Central, who are already moving in, along with catering to workers within the busy Manukau commercial district,” King-Turner says. “Potential customers include an ever-increasing number of Manukau Institute of Technology (MIT) students along with train and proposed transport hub passengers.
“Student numbers at the Manukau Institute of Technology across the road are expected to hit 25,000 by 2020 and the now fully operational Manukau Station is projected to provide for 600,000 passengers per annum. Along with the residents of the apartment block, this represents a huge consumer base for a successful supermarket operation and it’s sure to attract investor interest,” says King-Turner.
He says there are a range of retail opportunities for lease or sale in the complex in addition to the supermarket space.
“Unit One comprises the last available north-facing commercial space and has 28.2 sq m of retail space with 23 sq m of wrap around balcony. The building’s patio has views over Hayman Park which makes this unit ideal for a range of uses including a food and beverage outlet.”
The sale price is $360,000 plus GST and the lease price is $25,200 plus GST per annum.
King-Turner says Units 12 and 17 both have spacious corner positions with large picture windows, abundant natural light and an elevated view over busy Putney Way.
Unit 12 with 42.4 sq m of retail space is selling for $435,000 plus GST or leasing for $30,450 plus GST per annum on a six year term.
Unit 17 with 31.1 sq m of retail space is selling for $320,000 plus GST and leasing for $22,400 annually plus GST on a six year term.
“These units are awaiting savvy investors or owner occupiers looking to capitalise on the rapidly increasing volume of foot traffic in and around M Central,” King-Turner says.
“There are now just three smaller retail units left available for lease or sale within M Central, in the new heart of Manukau City’s busy commercial centre which is expected to undergo massive growth over the next 30 years.
“The new proposed bus interchange is set to open in early 2016, so this is the right time to invest in M Central.”
Also available is space for special internal retail units including an ATM, escalator display, vending operations and external signage.
King-Turner says Manukau City is the Auckland region’s next biggest centre and, with a shortage of both residential and commercial property in and around the Auckland CBD and record immigration, Manukau City looks set to undergo a rapid expansion.
“It’s also close to the State Highway One southern motorway and has easy access to nearby Auckland airport.”
Peter King-Turner of the NAI Harcourts Manukau Commercial.