A well-positioned supermarket that services Orewa and the surrounding coastal catchment is available for purchase, giving buyers the opportunity to acquire an asset that is underpinned by a strong tenant covenant.
Sitting at 3 Moenui Avenue in Orewa, the 4,089sq m property is near the local beach and benefits from its proximity to surrounding amenities.
Woolworths occupies the property and their current 10-year lease term runs until 2031 with 10 further rights of renewal of five years each leading to a potential final expiry in 2081.
The lease agreement provides $1,241,393 plus GST in net annual rental income.
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The property, which is spread across nine freehold titles,is zoned Business – Town Centre Zone under the Auckland Unitary Plan. The total landholding measures 9,380sq m.
Orewa is approximately 38km north of Auckland’s CBD and is an established coastal suburb and service centre for the wider Hibiscus Coast.
The surrounding area comprises a mix of residential dwellings, low‑rise offices, retail, and commercial buildings, with significant amounts of land in Orewa and surrounding suburbs identified for future development and urbanisation.
Colliers Directors Shoneet Chand and Matt Prentice have beenexclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Wednesday 9 September, unless sold prior.
The expansive site benefits from approximately 159m of frontage to Moenui Avenue, dual street access, and excellent customer accessibility, reinforcing its position as a key retail destination serving the local catchment.
Dedicated service access via Cammish Lane further supports the efficient operation of this supermarket that was refurbished in 2014.
Chand, Director of Investment Sales at Colliers, says thelengthy lease and existing tenant make this a highly appealing passive investment opportunity.
“The asset is fully leased to one of New Zealand’s most recognisable brands and will catch the eye of discerning buyers given its ability to provide consistent and steady cashflow from an essential service tenant,” Chand says.
“The property has notable scale and holds a dominant position in Orewa’s commercial centre. The improvements include modern retail accommodation, back-of-house facilities, loading areas, and staff amenities, making it an efficient platform for long-term supermarket occupation.”
The subject property is located approximately 6km north-east of the Northern Motorway interchange and the Hibiscus Coast bus station.
The wider Orewa area has experienced consistent population growth for the past decade with Census data highlighting a 28 per cent increase between 2018 and 2023. The coastal location has considerable appeal as a lifestyle destination.
Prentice, Director of Sales and Leasing at Colliers, saysthe supermarket serves a wide catchment that includes Orewa and the nearby suburbs of Silverdale, Red Beach, and Whangaparāoa.
“To support the growing population of the area, Orewa has also benefited from infrastructure upgrades through improved transport links and its roading network. The property is a short walk from Ōrewa Beach and the local shops and hospitality spots,” Prentice says.
“This property has all the hallmarks of an appealing long-term investment opportunity.”
- Supplied by Colliers
