A suite of five office and retail premises currently under construction within one of New Zealand’s most successful provincial master-planned residential suburban communities has been placed on the market for sale or lease.
The five commercial sites in the South Island town of Wanaka are to be located in what will be known as Northlake Commercial Centre – some three kilometres from the town’s central business district, and supporting the fast-growing master-planned residential suburb of Northlake.
Situated at 5 Northlake Drive, the five street-level units being offered for sale or lease within Northlake Commercial Centre range in size from 48-square metres through to 558-square metres – allowing for occupancy by a diversity of business tenancies. Two other units within the centre have been sold off-plan already.
The five-remaining industrial-style units will sit adjacent to the modern Northlake Village Centre which contains the popular Monkey Farm licensed restaurant and bar, along with Pinnacles Early Childhood Education Centre, a range of small commercial firms involved in the property and construction sectors, and a public playground.
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The Northlake Commercial Centre portfolio is now being marketed for sale or lease by negotiation through Bayleys Wanaka.
Salespeople Mat Andrews and Scott McGoun said the variously configured spaces within the development would suit the likes of a hair salon, florist, upmarket café, standalone healthcare services provider, neighbourhood convenience store, or professional services tenants such as boutique legal or accountancy firms.
“The increasing commercial footprint and space delivered through the Northlake Commercial Centre and its neighbouring Northlake Village Centre reflect the growth in both commercial and residential property activity being seen in this part of town over the past decade, and are much needed in the Greater Wanaka area,” said Andrews.
“As a consequence, the commercial leases within the original Northlake Village Centre were quickly snapped up when the property was first brought to the market several years ago, and hence why it is currently fully tenanted now.
“In response to this obvious demand for new commercial space, and factoring in future growth for the region, Northlake Commercial Centre is being established, and we expect the complex to be fully tenanted when it officially opens in the middle of next year.
“These commercial spaces will offer an excellent lifestyle alternative to operating from premises located in Wanaka’s central business district – which is now very much tenanted by hospitality, food and beverage, and tourism service operations.
“The Northlake Commercial Centre units can be viewed as an opportunity for either owner-occupiers, or as new-build investment opportunities to tenant. Bayleys Wanaka already has a number of local businesses registered with us who are looking to move into Northlake’s commercial premises as potential tenants when space becomes available,” said Andrews.
Construction of Northlake Commercial Centre began earlier this year and foundations have been laid. The complex is scheduled for completion in the middle of 2023.
Each of the five units for sale or lease will have access to two sets of shared ground floor bathroom amenities. Each unit will also come with an allocated space within the site’s central car park.
McGoun said that the building quality of Northlake Commercial Centre was designed to attract high-end business clientele looking for a presence in a relatively affluent surrounding suburb – set to sustain more than 1,600 new dwellings when fully developed.
“Northlake Commercial Centre, as was its sister complex the Northlake Village Centre, is very much at the bow-wave of Wanaka’s commercial expansion away from the town centre,” McGoun said.
“The offices within the portfolio for sale or lease are exactly what the local business market has been asking for since Northlake Village Centre proved so successful. The availability of additional customer parking around Northlake Drive, Mount Linton Avenue, and Cluden Crescent, is also a big drawcard for both the tenant businesses and their clientele,” he said.
“Northlake’s residential population will continue to grow for many years to come as new neighbourhood pockets, such as the ALTA villas, are completed, as well as a large-scale retirement complex which has been planned for.”
- Article supplied by Bayleys
