Retail units within a new food hub on the North Shore have been placed on the market for sale or lease.
The under-construction premises – to be known as The Radiance Centre - at 8 Oracle Drive in Albany on the North Shore consists of a 2,457-square metre dual-level complex containing up to 16 individual food and beverage outlets.
Unit titled outlets within The Radiance Centre will range in size from 69sqm to 153sqm and are being offered for sale or lease, with the potential to be negotiated either individually or as combined titles to create bigger floor plans if needed. All sites are being designed and built exclusively as food and beverage operations.
The Radiance Centre food hub is located in Albany’s rapidly growing Orchard Park business precinct which sits immediately to the south of the area’s more retail-focused activities.
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The Orchard Park commercial precinct is home to a wide range of national and international retail and commercial tenants - including Westpac bank’s administrative headquarters, North Shore District Court, law firm McVeagh Fleming, Kids Cove Childcare Centre, Mitre 10’s head office, the New Zealand offices of science and medical systems manufacturer Olympus, gaming machine trust operator The Lion Foundation, the base for logistics and freight forwarding operator Peter Baker Transport (PBT), Oracle Business Centre, and ASB bank’s data centre.
The 16 Radiance Centre food and beverage units at 8 Oracle Drive are being marketed for sale or lease by expressions of interest through Bayleys North Shore, with the process closing on September 17. Salespeople Steven Liu, Eddie Zhong and Daniel Henderson said the sites were suitable for sustaining both stand-alone foodservice operations or nationally branded food outlets.
Five sites are located around the carpark on The Radiance Centre’s lower level, with the remaining 11 sites on the upper level.
“The intention is to populate The Radiance Centre with a complementary tenancy mix encompassing a menu of local and international cuisines. From that perspective, there is room for operators serving European, North American, South American, Asian, Middle Eastern, and New Zealand cuisines,” said Liu.
“Of course, there is the potential for a licensed beverage operator to open and run a bar within the Radiance Centre. Currently there are no such licensed bar style venues in the immediate vicinity – so any new such offering would have a complete point of difference.
“The target clientele for food and beverage customers is very much the surrounding corporate sector, visitors to the retail premises at both Corinthian Retail Hub and Orchard Park, and parents of children attending the nearby childcare facility.
“Consequently, food and beverage tenants within The Radiance Centre are likely to be open first thing in the morning until early evening. All but two of the spaces for sale or lease will have outside deck areas – some with views onto Oracle Drive, and others with an outlook over William Laurie Place.”
Zhong said the roading grid structure of the Orchard Park neighbourhood around The Radiance Centre allowed for a good degree of connectivity, albeit the commercial nature of the Oracle Drive location made it largely a car-borne destination.
“To ensure clientele from within the greater Albany Basin are attracted to The Radiance Centre, 51 car parking sites have been allocated for customer parking. The mix of covered and open parking spaces will have two access/exit points,” he said.
“Additionally, a substantial foot traffic customer base is forecast to come from parents dropping off and picking up their children from the nearby daycare facilities – allowing for potentially two foodservice retail experiences daily from the breakfast, morning tea, lunch or afternoon tea service periods.”
Henderson said the property at 8 Oracle Drive was zoned Business – Business Park under the Auckland City Council Plan, and that a body corporate structure was currently being established to manage The Radiance Centre on completion.
He said unit titles such as those being promoted for sale or lease within The Radiance Centre were a common form of multi-unit commercial property ownership – allowing for a large premises to be jointly owned in conjunction with other similar business operators.
“There is the opportunity for units within The Radiance Centre to be purchased by either owner-operators looking to make their first foray into the food and beverage sector, or for businesses to add a new location to their existing foodservice sites elsewhere in the city.” Henderson said.
