A fully leased, dual-frontage retail opportunity in the heart of Auckland’s Newmarket precinct has come to market, offering a rare blend of income security and future upside.
215–217 Broadway & 3 Teed Street, Newmarket, exclusively presented by JLL for sale by tender on behalf of Smith & Caughey Limited, represents a standout investment opportunity in one of New Zealand’s most prestigious shopping and lifestyle destinations.
Comprising two distinct retail buildings on a 771 sqm freehold site with six on-site car parks, the asset spans 476 sqm of net lettable area and delivers a combined net passing income of $578,111 per annum across three established tenants.
The site boasts 100% occupancy with a diversified tenant base, offering immediate income security with future value-add potential.
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Jason Armstrong, Director and Head of Metropolitan Sales & Investments, comments:
“This is a rare chance to secure a proven income-generating retail holding with future upside, right at the heart of Broadway’s renewed retail momentum.
"Assets of this quality and location are seldom brought to market, and purchasers have the advantage of a transparent, time-bound tender process.
"The combination of immediate income and exceptional redevelopment potential makes this an ideal choice for both passive investors and value-seekers looking to establish a long-term foothold in Newmarket.”
Strategically positioned in Broadway’s highest-demand retail block, the property sits adjacent to the former Smith & Caughey’s department store, soon to reopen as Chemist Warehouse in Q1 2026
Alex Wefers, Associate Director, adds:
“With Chemist Warehouse set to open and McDonald’s returning after more than three decades, investor demand for premium Newmarket real estate is accelerating.
"The leasing fundamentals speak for themselves—high foot traffic, blue-chip tenants, and future redevelopment prospects. The asset’s diversified income stream, strong tenant covenants, and prime catchment position it as one of the best offerings available this year.”
With the presence of anchor tenants including Adidas, Nike, Timberland, Glassons, and McDonald’s, it is located just 100 metres from Westfield Newmarket, Auckland’s flagship shopping centre, amidst 2,187 car parks within a 200m radius.
Newmarket’s robust demographic catchment and exceptional connectivity, with direct links to rail and motorway networks, further underpin consistent foot traffic and spending power.
The property’s Metropolitan Centre zoning unlocks significant intensification potential, including mixed-use development to a practical height of around 30 metres (subject to overlays).
Low site coverage, flexible lease structures with redevelopment clauses, plus protected land value in a tightly-held precinct, equip buyers with clear pathways for future growth.
James Lee, Senior Director, says: “Broadway is entering a new era of stability and growth, with vacancy rates easing and consumer demand climbing. For investors, this property offers both income certainty today and compelling value-add potential for tomorrow. With robust market fundamentals and the precinct’s ongoing transformation, this opportunity stands out as a secure and strategic addition to any portfolio.”
The tender closes at 4:00pm, Tuesday 18 November 2025 (unless sold prior). Interested parties are invited to request full due diligence information.
- Supplied by JLL
