Landmark Auckland retail destination placed on market

Dress Smart Auckland, one of the most established and well-known retail destinations in the city, is being presented to the market for sale, giving buyers the opportunity to acquire a 100% freehold stake in a significant asset with a strong income profile and long-term growth potential.

Located at 151 Arthur Street in the centre of Onehunga, this freehold asset is only 8km from Auckland CBD, offering a rare chance to secure a scale asset in a densely developed part of the city where retail competition is limited and population growth tailwinds are strong.

Dress Smart Auckland is anchored by an appealing mix of international brands, including Adidas, Converse, Puma, Tommy Hilfiger, Calvin Klein, Under Armour, New Balance, and Coach. This curated tenancy profile reinforces the centre’s position as a leading outlet destination, delivering a diversified and resilient income stream with broad consumer appeal. Retail sales at the centre total close to $100 million annually.





Sitting prominently on a 24,626sq m landholding, the multi-level building comprises 13,179sqm of gross lettable area and has 91 tenancies. The centre provides 844 car parks.

CBRE and Colliers have been jointly appointed to market the property for sale via an international Expressions of Interest campaign closing at 2pm (NZST) on Thursday 20 August 2026.

Brent McGregor, Executive Chairman of CBRE New Zealand, says the new owner inherits a well-presented centre with limited near-term capital demands and clear scope for future development.

“Recent capital work, including upgrades to amenities and finishes, has materially enhanced the presentation and functionality of the centre, significantly reducing exposure to short-term capital expenditure,” McGregor says.

“The asset sits on a substantial landholding that underpins its long-term value, and there is flexibility for retail expansion or mixed-use intensification that could unlock further possibilities down the line.”

The property is zoned Business - Town Centre Zone under the Auckland Unitary Plan, and two land parcels provide the ability to capitalise on this flexible underlying zoning.

Caiti Morgan, National Director of Retail Capital Markets for CBRE, says the property is well positioned in a fast-growing part of Auckland.

"As a destination centre, Dress Smart draws from a total trade area of more than 1.7 million residents, with a primary catchment spanning established, densely populated suburbs such as Three Kings, Mount Roskill, and Ellerslie," Morgan says.

“The customer base is demographically diverse, with strong retail spending. The nearby Penrose industrial precinct adds a substantial daytime workforce that underpins weekday trade."

Onehunga is a key growth node identified by Auckland Council, benefiting from considerable public and private investment that is spurring further intensification and urban renewal. The suburb holds a strategic position in Auckland, with direct access to State Highway 20 providing efficient connectivity to both central Auckland and the airport. Local public transport continues to improve, with a train station within walking distance and multiple bus routes nearby.



Richard Kirke, Managing Director of Agency at Colliers, says institutional-grade outlet centres are tightly held and rarely brought to the open market.

“Dress Smart Auckland represents a scarce opportunity for prospective purchasers to acquire an established retail presence in a high-growth location,” Kirke says.

“Retail assets are currently sought-after in the commercial property sector with buyers drawn to their underlying investment fundamentals and income growth expectations.”

Blair Peterken, Director of Capital Markets at Colliers, says this offering is a marquee purchasing opportunity that is home to big-name brands consumers across New Zealand are familiar with.

“The income profile is strengthened by a near 98% occupancy rate. Having first opened in 1995, the centre has a long history of trading strongly,” Peterken says.

“There are future opportunities to develop the tenancy mix and with few outlet centres available with vacant space there will be ongoing demand among potential occupants.”

The offering is expected to attract strong interest from both domestic and offshore capital.