A substantial office complex in Orewa has become available for sale, providing an opportunity for investors, developers or occupiers to acquire a strategic landholding in a popular coastal community.
The Orewa Service Centre at 50 Centreway Road is being vacated by Auckland Council as part of plans to deliver increased efficiency across its corporate portfolio and improve services to Aucklanders.
The transition will see local services relocated within the community and operations moved to a new Hub in Albany.
Located only 500m from the beach, the complex comprises two attractive, well-maintained office buildings with a combined net lettable area of 7,482sq m.
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The buildings are set amid appealing park-like grounds on a 1.93ha freehold site with abundant car parking.
The property’s Business Mixed Use zoning allows for a wide range of uses including residential, medical, commercial, aged care, education or a mix of uses.
Interested parties have a multitude of options, including retaining all or most of the current buildings, or extensively redeveloping the entire site.
A leaseback to Auckland Council will provide holding income plus ample time to put plans in place for the next phase of the property’s future.
Colliers International has been exclusively appointed to market 50 Centreway Road for sale by deadline private treaty closing at 4pm on Thursday 19 March.
Jimmy O’Brien, Managing Director of Colliers North Shore, says it is chance to acquire a strategic site in a high-growth location.
“Orewa is a popular holiday and retirement destination that has undergone significant residential growth in recent years.
“Strong home ownership, high median house prices and an older population provide solid demographic support for residential or aged care development.
“Recent activity in the area includes two new retirement villages, developed by Ryman Healthcare and Hopper Developments, as well the 15.8ha, master-planned Kensington Park residential development.
“These developments will further bolster Orewa’s position as the commercial heart of the Hibiscus Coast and Rodney District.”
Alan McMahon, Strategic Advisory Director at Colliers International, says the property was formerly the head office of the Rodney District Council.
“The buildings are now owned and occupied by Auckland Council, which has identified the property for sale as part of its corporate property consolidation strategy.
“The sale will help the council manage its assets in a cost-effective way while providing more flexible services to Aucklanders.
“Local services will be relocated within the community, while office jobs will be consolidated to Auckland Council’s North/West Hub in Albany.
“Auckland Council will continue to occupy the Orewa Service Centre while this transition takes place, providing holding income while a new owner makes plans to unlock the site’s development upside.
“A new owner could explore a number of different options including reuse of the existing buildings, refurbishment, adaptive reuse or redevelopment.”
Auckland Council has committed to a triple net lease from settlement, returning $1 million in net annual rent. The lease runs until the end of 2023, after which there are no rights of renewal.
Shoneet Chand, Director of Colliers International, says the property provides more than 125m of road frontage and three access points to Centreway Road.
Ample car parking is provided, with some 253 on-grade parking spaces available.
The original Pacific Building was built around 1977 and refurbished in the mid to late 2000s. It provides 3,875sq m of office accommodation over two levels, generally to a stud height of 2.7m.
“The Pacific Building comprises four main wings that radiate from a central core,” says Chand.
“The ground floor features a higher stud reception and customer service area. Multiple stairwells and a lift at the rear of the lobby provide access to the first floor.
“Both floors have a combination of partitioned and open plan office accommodation, along with male and female amenities.”
The Tasman Building was built in the mid to late 2000s. It is a regular-shaped office building that provides 3,606sq m of space over three levels.
“The Tasman Building is connected to the Pacific Building via a stairwell and walkway to the eastern side of the building.
“All three floors generally provide well presented, open plan office accommodation, with partitioned offices and meeting rooms, staff amenities and lift access located to the central core of the building.”
Josh Coburn, Site Sale Director at Colliers, says Orewa is located north of the Whangaparaoa Peninsula, some 40km north of central Auckland.
“Orewa is known for its natural beauty and its proximity to the best the Rodney District has to offer. Its stunning surf beach provides 3km of golden sand that has been enjoyed by generations of holidaymakers, residents and retirees.
“To the north is the popular Wenderholm Regional Park and Puhoi historic village, while to the south is Silverdale, which has quickly become the residential, retail and industrial hub of Auckland’s northern suburbs.
“Orewa’s proximity to this development hub and its spectacular natural beauty have made it a highly sought-after, premium residential locale. This means it is the ideal site for a future residential, retirement or mixed-use development.”
