Above: M Central is a mixed use development in the heart of Manukau.
Construction is now complete on M Central, a modern new mixed-use development located in the heart of Manukau City. The property features 114 residential apartments along with two levels of specialty retail stores, including a supermarket.
Peter King-Turner of the NAI Harcourts Manukau Commercial team is marketing the property on behalf of the owner.
A 372 square metre supermarket complete with two basement carparks is now available for sale or lease as a freehold strata title. The supermarket will support residents of M Central, workers within the busy commercial district as well as an ever-increasing number of Manukau Institute of Technology (MIT) students, train and proposed transport hub passengers.
“Student numbers at MIT are expected to hit 25,000 by 2020 and through the now fully operational Manukau Station projected passenger numbers are 600,000 per annum. Along with the apartments’ residents, this represents a huge consumer base for a successful supermarket operation and it’s sure to attract investor interest,” says King-Turner.
Along with the supermarket, there are a range of unique retail opportunities for lease or sale in this mixed-use complex.
The last available north-facing commercial space - Unit 1 - features 28.2 square metres of retail space and a 23 square metre wrap around balcony. Sale price is $360,000+GST, or lease price is $25,200+GST per annum.
King-Turner says that the stunning views of Hayman Park offered from the patio make this unit ideal for a range of uses including a food and beverage outlet.
Units 12 and 17, both offer spacious corner positions with large picture windows, abundant natural light and an elevated view over the hustle and bustle of Putney Way. Unit 17 with 31.1 square metres of retail space is selling for $320,000+GST and leasing for $22,400+GST per annum on a six year term. Unit 12 with 42.4 square metres of retail space is selling for $435,000+GST or leasing for $30,450+GST per annum on a six year term.
King-Turner says that these units are awaiting savvy investors or owner occupiers looking to capitalise on the rapidly increasing volume of foot traffic in and around M Central.
“With just three smaller retail units left available for lease or sale within M Central, now is the time to secure your spot in the new heart of this busy commercial centre. Manukau City is expected to undergo massive growth over the next thirty years, and with the $100 million Manukau Institute of Technology directly opposite, Manukau Station providing frequent rail services to Auckland CBD, and the new proposed Bus Interchange set to open in early 2016, now is the right time to invest in M Central,” says King-Turner.
Internal special retail units including ATM, escalator display, and video vending opportunities also exist along with external signage and vending opportunities.
To complement the busy retail spaces, 114 one, two, three and four bedroom freehold apartments occupy the upper levels of M Central with residents already moving in.
King-Turner says that with the MIT and transport links right at the doorstep of M Central, he expects these units will have strong rental demand.
“With easy access to retail, services, transport, schools and the Manukau commercial district, you won’t find apartments more superbly located than these. They really are an ideal investment opportunity or perfect for first-home buyers looking for the convenience of apartment-living close to where they work or study.
“After Auckland CBD, Manukau City is Auckland’s next major centre and with the shortage of residential and commercial property in and around the CBD and record immigration to Auckland, Manukau City is looking set to undergo rapid expansion.
“It’s proximity to major infrastructure including the Southern Motorway, and Auckland airport, in many ways makes Manukau City a great option for residents and businesses alike,” says King-Turner.
In February, NAI Harcourts was awarded International Member of the Year by NAI Global, in recognition of their growing success. NAI Harcourts is represented in 61 locations nationwide.
For further information contact:
Peter King-Turner
NAI Harcourts Manukau
027 439 5716
Peter.kt@naiharcourts.co.nz