Fringe complex with grand designs

Space in a new mixed use development is for lease at 8 Nugent St, Grafton. Photo / Supplied

Bayleys is calling for expressions of interest from retailers wishing to lease space in Stage 1 of a large, new mixed-use development in Nugent St, Grafton, on the fringe of Auckland's CBD that has been completed on schedule by Neil Properties. Erin Palmer, of Bayleys Auckland who is marketing the retail component of two of the buildings, says the 8 Nugent St complex is likely to provide a new retail hub within the popular Grafton-Newmarket precinct.

Retailers will have an on-site catchment of up to 1500 people when the four-building project is fully leased and there will also be a pool of 200 parking spaces available to shoppers.

Palmer says the environmentally designed complex is finished except for the final building, and provides up to 2000sq m of retail space, plus a substantial amount of office area.

"Potential retailers could be operating out of their new premises by Christmas," he says.

"The building at 8 Nugent St offers a variety of retail options, from showroom space to convenience retail.

"Tenancy sizes are flexible ranging from 40sq m to 700sq m, and one of the buildings offers a floor to ceiling height of 4.9m with retail space spilling out into a pedestrian friendly Euro-styled plaza."

Building A has space for six shops with hospitality-styled retailers like cafes, sushi bars, convenience retail or good quality take-out businesses or bars being sought as tenants.

Among the opportunities are a prime cafe location of close to 100sq m, plus an outdoor area and a potential bar/restaurant area of 367sq m.

"There are already several large office blocks in the immediate area which provide an existing catchment for retailers and these office workers are under-serviced by food and beverage retailing at present," Palmer says.

In Building B, Bayleys is looking for up to six tenants for the high-stud showroom space which ranges from 231 to 689sq m.

It is concentrating on high-end furniture and design retailers to complement the existing businesses in the area that include outlet ECC, Franklins Bathrooms, Sitta European furniture and furnishings and a Bo Concept furniture showroom.

Keith Maddison, Neil Properties senior development manager, says the company decided to go ahead with the project because it made good future economic sense.

"There are over 60,000 people living within five minutes of this development and the catchment area includes some of Auckland's most affluent residential areas," he says.

Maddison says the company has decided to pursue a four-star Green Star NZ certification rating because it made sense to create a healthy working environment when planning a project from the ground up.

The rating is achieved through the New Zealand Green Building Council, an industry organisation dedicated to accelerating the development and adoption of market-based green building practices.

The "green" features of 8 Nugent St include waste minimisation and recycling with a dedicated refuse area in Building E, and cycle racks both on the street plaza and undercover in the carpark areas. These racks will be allocated to the commercial occupiers and will include access to exclusive changing rooms with individual lockers and the use of showers.

The building also picked up full points for its closeness to public transport, with the frequent bus service during peak commuting periods.