Churchill says the retail sector is continuing to evolve with retailers further developing their online sales capacity.
"Expectations are for further growth in the demand for retail space from the entertainment, cafe and hospitality sectors, but retailers more exposed to online sales competition may struggle," he says.
"Ongoing population growth should continue to drive overall retail sales growth although this is likely to be unevenly distributed across different store types."
A number of retail properties for sale are featured in the agency’s latest Insite portfolio of 39 commercial properties.
189-197 Great North Rd
Two new ground floor retail premises at 189-197 Great North Rd in Auckland’s city fringe suburb of Grey Lynn encompass the street level space of a new five-level property called North Apartments.
"The two freehold ground floor showroom/retail units are designated Unit 1R and 2R," says Grant Magill who, with colleague Reese Barragar, is marketing them with vacant possession for sale or lease by negotiation.
Strategically placed on a 1366sq m corner site, the property has a frontage to Great North Rd of 40.21m and a frontage on Turakina St of 35.20 m.
"Unit 1R comprises a 331.60sq m retail unit on the corner of Great North Rd and Turakina St while Unit 2R, with a frontage to Great North Rd, is a 332.6sq m unit that could be split into two units of 166sq m," Magill says.
"The two big retail showroom retail units have stud heights of 4.5m with floor-to-ceiling glass frontages and can be configured to suit occupier needs with fit-out packages available."
The ground floor lobby is at the centre of the two units and access is gained from Great North Rd and also off Turakina St.
Barragar says the new retail units have been completed to a bare shell basis and each comes with six secure basement car parks.
"Zoned Mixed Use under the Auckland Unitary Plan, these units have a high-profile on the city arterial route of Great North Rd – along with easy access to the motorway systems via nearby Newton Rd or Symonds St on ramps,"
Barragar says Grey Lynn is undergoing a strong rejuvenation as evidenced by the development of the Cider Building, Vinegar Lane complex, a Bunnings store and Giltrap Prestige luxury car sales and office building.
"This surrounding intensification will be a catalyst for stronger rental rates and capital appreciation, making this a great area to invest in," Barragar says.