Central Park 'one of year’s largest commercial deals'

Located at 660 Great South Road, Auckland, the 4.85 hectare land holding occupies a prominent position along Auckland’s Southern Corridor. The precinct comprises 12 office buildings encompassing around 47,000 sqm of net lettable area (NLA) and a WALE of 5.3 years.

The sale is being managed by CBRE’s Brent McGregor and John Holmes, and McVay Real Estate’s Sam McVay and Dan McVay via an International Expressions of Interest (EOI) campaign.

CBRE’s Brent McGregor adds that “The asset has a range of office space options built over 45 years appealing to a wide tenant audience ranging from SMEs through to NZX-listed entities and government departments. The property is perfectly set to capitalise on the improving fundamentals in the New Zealand economy.”

Located 7km from the Auckland CBD, Central Park includes a diversified mix of more than 80 tenants, including KiwiRail, which opened its Auckland Operations Centre in the precinct in 2024, Mars, Bunnings, Sealord, CBRE and the New Zealand Electoral Commission.

Central Park, which has around 3,000 people onsite, includes a La Quinta Hotel and The Green, a new hospitality precinct featuring an array of food and beverage operators and integrated outdoor recreation spaces.

“The opportunity at Central Park lies in its ability to deliver stable income today, with the capacity for staged improvement and redevelopment as market conditions and tenant requirements evolve.” says CBRE’s John Holmes

McVay Real Estate’s Sam McVay said: “Central Park offers investors excellent net effective cashflow and an asset with significant development upside in one of Auckland’s most thriving business parks.”

“With the Southern Motorway offering a direct connection to the Auckland CBD, the precinct is perfectly positioned to benefit from the city's infrastructure growth.”

Zoned as a “business park” under the Auckland Council Unitary Plan, the precinct has no gross floor area (GFA) cap and generous planning controls, enabling future redevelopment and expansion.

The site has significant frontage to the southern motorway, is a short walk to Ellerslie Village and train station, and is adjacent to numerous bus services along Great South Road.

The EOI campaign closes at 4pm Thursday, 19 March.

- Supplied by CBRE