Prime Wynyard Site with Five Reasons to Invest

Five diversely tenanted ground-floor commercial units are up for sale as a single investment in an acclaimed mixed-use development in Auckland’s vibrant Wynyard Quarter.

Occupying a prominent dual-frontage position on Beaumont and Madden Streets, the near-new property spans approximately 538sqm across five titles and generates a net annual income of $291,133 plus GST and outgoings.

The diversified tenant mix includes hospitality, marine and professional service operators, underpinned by a weighted average lease term of more than 4.7 years, plus a vendor underwrite on one tenancy.

Located at the base of an upmarket apartment complex in Willis Bond’s 30 Madden Street precinct, the property benefits from strong surrounding amenity, hospitality offerings and a growing number of major corporate headquarters.

The property comprises five tenancies ranging from approximately 81 to 166 square metres, each with strong street presence on one of Auckland’s leading marine and waterfront thoroughfares.

Tenants include Auckland bakery chain Mibo, a speciality coffee roaster, a luxury yachting company, and an international recruiter of sailing crew and marine professionals. The smallest unit, currently occupied by a design studio as their showroom on a casual lease, will be supported by a two-year vendor underwrite.

The five units at 155 Beaumont Street are being offered to buyers together by deadline private treaty closing on Wednesday 10 June (unless sold prior). The sale is being marketed by Cameron Melhuish and James Were of Bayleys Auckland Central.

Melhuish said the property offered flexible, functional accommodation suitable for a wide variety of premium tenants.

Constructed in 2021, the tenancies feature generous glazing, efficient floor plates, modern services and shared building amenities.

“The property has been positioned to benefit from a complementary tenancy mix aligned with the character of Wynyard Quarter, renowned for its connection to the marine industry, hospitality activation and professional services presence,” Melhuish said.

City Centre zoning under Auckland’s unitary plan supports wide-ranging business, commercial, entertainment and urban activities befitting a dynamic international centre.

“Through its five-title structure, this modern, investment-grade commercial holding offers exceptional income resilience, leasing flexibility, and future options within a tightly held and supply-constrained precinct,” Melhuish said.

The premises enjoy a standout dual-street presence in a wider 30 Madden Street precinct that is celebrated for its architectural quality, durable materials and seamless integration with Wynyard Quarter’s waterfront environment.

Around 66 metres of frontage to Beaumont Street and a further 10 metres to Madden Street provide excellent visibility and access.

Were said the highly engaged frontage was excellently placed to capture the daily flow of residents, workers, and visitors.

“This location sees consistent pedestrian activity generated by surrounding residential density, major corporate occupiers, hospitality venues and destination waterfront amenities.

“The convergence of these elements has transformed Wynyard Quarter into one of Auckland’s most lively and resilient mixed-use destinations.

“Within a five-minute walk, there are 300 quality apartments, supporting a highly affluent Wynyard-Viaduct population that’s growing at nearly twice the rate of wider Auckland.

“A burgeoning cluster of big corporate offices, including Air New Zealand, Fonterra, ASB, Microsoft, and new One NZ headquarters, sustain a local workforce that boosts the daytime population and demand for hospitality, service and retail operators,” said Were.

The quarter is forecast to be home to 3,000 residents and 25,000 workers once fully developed.

“Major anchors such as Park Hyatt Auckland, the ASB Waterfront Theatre, North Wharf, the Viaduct Harbour, and a proliferation of boutique retailers and service providers, pull in an additional flow of visitors.

“Together, these factors point to strong and growing demand for well-located retail and commercial accommodation,” Were said.