The McDonalds site at the intersection of Mt Wellington Highway and Ellerslie-Panmure Highway. Photo / Supplied
The McDonalds site at the intersection of Mt Wellington Highway and Ellerslie-Panmure Highway. Photo / Supplied
A new retail centre will open at the intersection of Mt Wellington Highway and Ellerslie-Panmure Highway in early 2018.
McDonald's is developing its large corner site and making room for new retailers to join them on this high-profile spot.
JLL and Colliers are seeking a mixture of tenants for the new development.
"In the coming months, Mt Wellington residents will see some changes start to happen," says JLL's head of retail Chris Beasleigh.
"Work will begin on a new McDonald's store, adjacent to the existing one. The new restaurant will open later this year. Then, the old store will be demolished and work will start on the new two-level retail development.
"This modern facility is being designed and developed by Argyle Estates, which has an excellent reputation for its retail developments around Auckland," Beasleigh says.
"The building will have 1030sqm of space on each level. The first floor would be ideal for a childcare operator, medical centre or offices. The ground floor will be split into retail tenancies to suit, and these could range from 80sq m to 250sq m.
"There will be plenty of carparking right outside," says Colliers' Director of Retail Leasing Nilesh Patel.
"Around 40,000 vehicles pass by this site every day," according to JLL Retail Leasing specialist Ranesh Parmar. "There are more than 78,000 people living within a 3km radius of the property. The population in the area is forecast to increase substantially over the next 20 to 30 years. There will be another 46,070 people living within that 3km radius by 2043."
Tenants are being sought for new retail centre, depicted in this artist's impression.
There are several Special Housing Areas in Mt Wellington and Panmure, which allow for fast-tracked development of more housing.
"Areas like Stonefields, Glen Innes, Pakuranga and Mt Wellington are all expected to have huge population growth. For example, Stonefields will gain another 5700 people by 2043 - that's a 179 per cent increase when compared to its population in 2016," Parmar says.
"Mt Wellington is a popular location with a variety of businesses because of its accessibility. The Southern Motorway on and off-ramps are just around the corner and the new Panmure train and bus station is just 400 metres away," Beasleigh says.
"There are several large-format retailers next door including Briscoes and Harvey Norman, with a Bunnings further along the highway. It's a popular area for shopping, with the fashion retailers at Sylvia Park just 5 minutes' drive away. The area draws shoppers from the surrounding suburbs of Ellerslie, Panmure, Stonefields, Onehunga, Pt England, the Eastern Bays and Pakuranga."
