Retail units and office space offered for sale or lease

Multiple retail units and office space within two new four-star hotels being built in Auckland have been placed on the market for sale or lease.

The units are located within the mixed-use Ramada Victoria Hotel and Suites at 147 Victoria Street West in Auckland’s central business district, and the Ramada Manukau Pacific Centre at 770 Great South Road in Manukau south of the city.

At 147 Victoria Street West, four ground floor retail spaces and one mezzanine level office tenancy are being offered for lease or sale within the venue – which will also contain 48 serviced apartments and 63 residential apartments. The Ramada Victoria Hotel and Suites tower is being built at a cost of $74.4 million.

Units for sale or lease within the location feature:
• Tenancy 001 – an 83-square metre site fronting onto Victoria Street
• Tenancy 002 – a 109-square metre site on the high-profile corner of Victoria and Graham streets
• Tenancy 003 – a 71-square metre site fronting onto Graham Street
• Tenancy 004 – a 119-square metre site fronting onto Graham Street
and
• Office space 009 – a 67-square metre mezzanine level floor plate with entry off Graham Street.

The tenancies or ownerships are being offered to commence at the same time the Ramada Victoria Hotel and Suites opens its doors for trading, and apartment owners take possession in August this year.

Meanwhile, at 770 Great South Road in Manukau, a pair of ground floor retail spaces are being offered for lease or sale within the Ramada Manukau Pacific Centre – which will contain 85 serviced apartments and 67 residential apartments, being built at a total value of $70milllion. The hotel features a mix of studio, one and two-bedroom units.

Units for sale or lease within the Ramada Manukau Pacific Centre feature:
• Unit 1 – a 146-square metre ground floor space suitable for a hospitality or food and beverage tenant seeking to service both hotel guests and businesses in the immediate vicinity. The unit is being offered for rent at $73,000 plus GST per annum, or for sale at $1.46million.
and
• Unit 2 – a 129 square metre space suitable as a showroom or retail location offering good visibility. The unit is being offered for rent at $64,500 plus GST per annum, or for sale at $1,29million.

As with the Ramada Victoria Hotel and Suites, tenancies and ownerships within the Ramada Manukau Pacific Centre are being offered to commence at the same time the property opens in August this year.

The sale or leasing negotiation process for sites within both locations is being managed by Bayleys Real Estate. National director for retail sales and leasing at Bayleys, Chris Beasleigh, said the two new Ramada hotels were targeting their guest stay marketing at both the domestic and international tourist segments, and prospective tenants in the two locations could piggy-back off that clientele mix.

“The Ramada Victoria Hotel and Suites expects a majority of its room night bookings to come from international tourists transiting through Auckland, and domestic business sector guests attending conferences, conventions, and exhibitions at the nearby SkyCity Convention Centre when it opens in the second half of 2020,” Mr Beasleigh said.

“Likewise the Ramada Manukau Pacific Centre, is forecasting a relatively even split of guest night bookings between international organsied tours flying into Auckland International Airport before heading south to the likes of Hobbiton and Rotorua, or the domestic conference, conventions, and meetings market attending events at the nearby Vodafone Events Centre.”

The Vodafone Events Centre has a main floor area capable of holding conferences and conventions for up to 1200 delegates. In addition to hosting conferences, meetings and conventions, Vodafone Events Centre has also hosted dozens of ‘ethnic’ weddings amongst Auckland’s Indian, Bangladeshi, Pakistani, and Pacific Island communities over the past five years.

“The property will be one of only two internationally-branded accommodation providers in the East Auckland/Manukau sector of the city. The Manukau location is surrounded by multiple small to medium sized businesses whose staff currently have little choice for corporate-function venues or food and beverage options,” Mr Beasleigh said.

Both the two new Ramada-branded properties are being developed by privately-owned New Zealand firm Safari Group (NZ) Limited which has construction involvement with other Ramada assets including: Ramada Newmarket, Ramada Albany, Ramada Federal Street, Ramada Queenstown and the Ramada Kawarau River Hotel and Suites in Queenstown.

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