A prominently positioned building on Takapuna’s primary retail strip is available for purchase and offers buyers the opportunity to acquire an asset that provides split-risk income and is anchored by internationally recognised apparel brand lululemon.
Sitting on a 1,153sq m freehold site at 20 Hurstmere Road, the two-level property has approximately 1,435sq m of total lettable area.
Outside of lululemon, the diverse tenancy profile includes popular national retailer Superette and busy local restaurant and bar Cousin Scott’s. The property returns $737,314 plus GST in net annual rental income.
Located within walking distance to Takapuna Beach and surrounded by a strong mix of retail, hospitality, and commercial occupiers, the property is positioned to benefit from ongoing public and private investment in the Takapuna precinct.
Start your property search
The property enjoys dual frontage to Hurstmere Road and Lake Road and is zoned Business – Metropolitan Centre Zone under the Auckland Unitary Plan.
The zoning also offers a maximum building height of approximately 24.5m, providing long-term flexibility as the usage of the area continues to intensify.
Colliers Directors Shoneet Chand and Matt Prentice have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Wednesday 26 August, unless sold prior.
The property sits at the southern end of Hurstmere Road within Takapuna town centre and neighbours the planned Willis Bond residential development, providing continued exposure to future customers.
The buildings are located on a high‑profile corner and are surrounded by a mix of strip retail, hospitality, and commercial uses, and benefits from strong pedestrian numbers.
Chand, Director of Investment Sales at Colliers, says the property is a well‑rounded investment, offering established income and recognised tenants in a proven metropolitan centre location.
“Anchored by lululemon, the asset provides a steady rental stream. The international brand’s tenancy runs through until 2043 if all rights of renewal are taken up, underpinning the property’s diversified income profile,” Chand says.
“The existing lease agreements from the current tenants include a mixture of rental growth mechanisms that will be appealing for investors.
“There is also considerable underlying land value meaning there are future development considerations given the favourable zoning of the property.
"The building’s strategic location in the heart of Takapuna with dual frontage to Hurstmere and Lake Roads means it benefits from exposure to significant volumes of foot traffic.”
The centre of Takapuna has undergone a notable transformation during the past few years as the main shopping strips have become more pedestrian friendly.
With further apartment developments planned for the area, there will be a continued need for hospitality and shopping options for consumers.
Multiple bus routes service the surrounding area, while the Northern Motorway is easily reached. Shore City Shopping Centre is also close by as well as a range of commercial and lifestyle amenities.
Prentice, Director of Sales and Leasing at Colliers, says Takapuna has firmly established itself as a premium retail and hospitality destination on the North Shore.
“The centre of Takapuna is surrounded by an affluent residential catchment that is continually growing and is supported by a strong office worker base. The local beach is only a few minutes away from the subject location, adding to its appeal,” Prentice says.
“The property gives purchasers the opportunity to acquire a stake in a prime retail hub.”
- Supplied by Colliers
