Prime Silverdale retail and office development for sale or lease
Prime Silverdale retail and office development for sale or lease
23 March 2013
Auckland, 23 March 2013 - Riding a significant wave of growth and interest in Silverdale’s new town centre, a new prime retail and office development in the heart of the centre is being released to the market for sale or lease at 2 Milner Avenue, Silverdale, Auckland.
The new development, on which construction work is due to start within the next couple of months, is being marketed by joint sole agents Simon Farland of CBRE and Geoff Thorne of NAI Harcourts on behalf of the Bindon Group.
Bordering the new The Warehouse and Countdown facilities, the new development is also near to the highly successful Polarity Plaza development, which was 100% fully occupied before construction began.
Farland says that Silverdale is one of the fastest growing regions in the country. “Considerable government expenditure on roading and infrastructure has effectively brought the Hibiscus Coast to within a 25 minute drive of the Auckland CBD.
“As a result, Silverdale is booming: there is so much activity going on here. Driven by what I can only describe as huge growth and demand, a number of well-known brands have already committed to taking space in 2 Milner Avenue, which is also known as Lot 3.
“Given the level of interest in this development, I’d encourage any convenience retailer or company looking for office space in Silverdale to get in touch to secure their position now.”
Occupying a total site area of 4,041sqm, the three-level development will comprise 15 retail units ranging in size from 44sqm to 260sqm, plus seven quality office units, from 55sqm to 257sqm. In addition, 2,277sqm of car parking will create space for 85 cars, including two loading spaces.
Within the 2,810sqm total gross leasable area on offer, the Ground Floor offers 1,236sqm of retail space, which Thorne describes as “a good complementary use to the nearby Warehouse, and could accommodate eleven small format convenience retail units”.
Thorne adds that the First Floor offers six tenancies, comprising three retail units and three office tenancies. In total, the first floor offers 960sqm of space.
“The Second Floor is all office, with four available spaces ranging in size from 95-257sqm and totalling 614sqm,” he adds.
The new Lot 3 development is being designed and built by the Bindon Group, which has many years of experience not only in the construction and design industry. The Bindon Group has recently focused on Silverdale’s rapid development, including building Polarity Plaza in Silverdale’s rapidly evolving town centre.
Mark Bindon says that the Bindon Group has a proven track record in developing and refining the skills and methodology necessary to design and complete small to large building projects on time and on budget.
“We offer a full service that includes project feasibility, estimating, design, design-build, management and construction. As specialist commercial designers and builders, we provide a conception to completion package deal, tailoring our architectural design and construction services in order to create buildings that work for their occupants.
“Our experience gained through creating Polarity Plaza means that we are completely confident in the high quality of the product that will be on offer at Lot 3: spaces that retailers and office occupiers will be proud of.”
Silverdale Town Centre is located within the burgeoning Silverdale commercial region in Auckland’s Rodney District. The properties are located close to Silverdale Parkway, a new major through road connecting the rapidly growing Silverdale business area and high growth Milwater residential subdivision.
The development is in close proximity to the northern motorway providing ready access to Orewa to the north and North Shore and Auckland City to the south.
Farland says that the development vision for the area is shared by Countdown, Bunnings, Pak n Save Supermarket, all whom have developed large new stores very close to the site. “The Warehouse has very recently created a large format retail development on a 7.1765 hectare site to the corner of Hibiscus Coast Highway and Wainui Road, directly adjacent to Silverdale Town Centre.
“In addition, Southern Cross owns an adjoining site and has developed a significant medical facility on site. And four schools are or will be located in the immediate vicinity.”
Thorne adds that Silverdale and the wider Rodney District has experienced extensive growth since the opening of the Northern Motorway extension in the late 1990s.
“Rodney’s population has grown by 15% over the last five years and is projected by the Council to grow to 117,000 by 2021, with up to 50% in growth projected in certain areas compared to the population recorded in the 2001 census results.
“A lack of available development land in traditional North Shore locations has led to developers and occupiers looking to areas including Silverdale. As a result, there has been extensive growth in most sectors of the property market within the Silverdale region. Fulton Hogan’s extensive ‘Millwater’ residential development, on the boundaries of the town centre, is also well underway, with the final development looking to cater for the significant population growth predicted for the area.”
“In summary, the Silverdale region has seen significant growth, which is expected to continue into the future with further residential, commercial, industrial and entertainment development taking place.”
Farland adds that in general terms the Whangaparaoa Peninsula is already developed.
“Therefore, future growth will take place in the area north of Silverdale Township between Orewa and the Northern Motorway. The Silverdale North Structural Plan opens the way for 3,500 new homes, three new schools, a shopping centre (including the Silverdale Town Centre site), extensive reserves and a business park adjoining the motorway.
“Earmarked as the future commercial heart of the Hibiscus Coast, the Silverdale Town Centre is ideally situated to leverage off the significant population growth predicted for the region, one of the fastest growing in New Zealand,” says Farland.
Thorne says that enquiry levels from retailers, office occupiers and investors for the properties in Lot 3 units are already high. “The opportunity to lease or buy property of this quality in this prime location, alongside major brands that are already making the move to Silverdale, is well understood.
“There is significant potential here for future investors, owner occupiers. The time has come to look seriously at Lot 3.”
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.