A well-presented and fully tenanted investment in a thriving West Auckland corridor offers buyers a stake in a tightly held retail precinct that’s rarely available.
Situated in one of Auckland’s key growth hubs, 49 Main Road, Kumeu is presented to the market by JLL, for sale by deadline sale date closing on 18 October, 2023, unless sold prior.
Covering a substantial 1,839 sqm of freehold land, 49 Main Road, Kumeu features two distinct freestanding buildings, with net lettable area (NLA) of 743.5 sqm.
Included in this space are five diverse tenancies that are strategically positioned within Kumeu's vibrant Main Road retail precinct, a leading project in developing a key Auckland growth pathway.
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Among the current occupants are recognisable retail names such as Canterbury Equestrian, SPCA, and Harveys Real Estate, all with established local presences in a diverse hub.
Fully leased, this property ensures occupancy and consistent rental growth in the coming years, securing long-term cashflow for the astute investor who takes over this address.
Kumeu is a suburb going through an impressive transformation, evolving from a serene countryside retreat surrounded by orchards and vineyards into a dynamic, busy town centre that sees consistent traffic on Main Road, connecting Auckland with the western beaches and the Waitakere Ranges.
Residential developments, sought-after education providers, supermarkets, and a burgeoning commercial precinct have reshaped its identity.
Situated on Kumeu's primary retail thoroughfare, the property benefits from over 30,000 passing vehicles daily, and recent road enhancements have amplified its visibility and accessibility.
Beyond the address, its prime location represents a strategic investment decision, as JLL Associate Director Alex Wefers points out.
“With 100% occupancy, its diversification of income across five tenants creates a well-rounded and low-risk investment,” says Wefers.
“Income stability is further reinforced by a blend of fixed annual growth and market rent reviews, ensuring a balanced financial future for the next buyer. Stability is the foundation of every successful investment, and 49 Main Road features a 100% NBS seismic rating to reassure tenants and investors alike that the building will be around to see in the expected growth of the suburb.”
JLL Associate Director, Jason Armstrong, highlights that the desirability of 49 Main Road, Kumeu extends beyond its location.
“Boasting an A+ grade seismic rating that guarantees structural integrity, recent capital investments ensure 49 Main Road is ahead of the curve when it comes to modern retail spaces,” says Armstrong.
“The north-facing facade captures attention and invites abundant natural light throughout the day. With excellent signage visibility and convenient access to vital transport routes, particularly Main Road (SH16), the property assures tenants and customers a hassle-free experience.
"On-site parking for up to 32 vehicles further enhances its marketability and accessibility for visitors.”
With competitive rental rates of $269 per sqm net for the offices, and $333 per sqm net for the retail spaces, 49 Main Road's value is evident in both its physical attributes and its financial potential.
Located just 25km northwest of Auckland's CBD via State Highway 16, Kumeu is a thriving rural township. Its strategic connection to neighbouring areas like Huapai, Riverhead, Whenuapai, and Westgate adds to its appeal.
Amidst this backdrop, 49 Main Road is in a prominent location, capturing the attention of passing traffic and offering unparalleled visibility to its tenants by way of the 30,000 passing vehicles every day.
The flourishing residential developments nearby have created a demand for local services, positioning this property perfectly to cater to these needs. Nestled within a vibrant commercial strip, it is surrounded by an array of amenities including supermarkets and other retail outlets.
The property's attributes read like a checklist of investor desires: recent roading upgrades, a high-profile site, strong tenant covenant, excellent accessibility with plenty of car parking, and a 100% NBS rating, all combine into a hard-to-ignore package.
- Article supplied by JLL
