Ōrewa office complex with redevelopment upside

50 Centreway Road rewa Auckland 04 Medium

A substantial office complex in Ōrewa has become available for sale, providing an opportunity for investors, developers or occupiers to acquire a strategic landholding in a popular coastal community.

The Ōrewa Service Centre at 50 Centreway Road is being vacated by Auckland Council as part of plans to deliver increased efficiency across its corporate portfolio and improve services to Aucklanders.

The transition will see local services relocated within the community and operations moved to a new Hub in Albany.

Located only 500m from the beach, the complex comprises two attractive, well-maintained office buildings with a combined net lettable area of 7,482sq m.

The buildings are set amid appealing park-like grounds on a 1.93ha freehold site with abundant car parking.

The property’s Business Mixed Use zoning allows for a wide range of uses including residential, medical, commercial, aged care, education or a mix of uses.

Interested parties have a multitude of options, including retaining all or most of the current buildings, or extensively redeveloping the entire site.

A leaseback to Auckland Council will provide holding income plus ample time to put plans in place for the next phase of the property’s future.

Colliers International has been exclusively appointed to market 50 Centreway Road for sale by deadline private treaty closing at 4pm on Thursday 19 March.

Jimmy O’Brien, Managing Director of Colliers North Shore, says it is chance to acquire a strategic site in a high-growth location.

“Ōrewa is a popular holiday and retirement destination that has undergone significant residential growth in recent years.

“Strong home ownership, high median house prices and an older population provide solid demographic support for residential or aged care development.

“Recent activity in the area includes two new retirement villages, developed by Ryman Healthcare and Hopper Developments, as well the 15.8ha, master-planned Kensington Park residential development.

“These developments will further bolster Ōrewa’s position as the commercial heart of the Hibiscus Coast and Rodney District.”

Alan McMahon, Strategic Advisory Director at Colliers International, says the property was formerly the head office of the Rodney District Council.

“The buildings are now owned and occupied by Auckland Council, which has identified the property for sale as part of its corporate property consolidation strategy.

“The sale will help the council manage its assets in a cost-effective way while providing more flexible services to Aucklanders.

“Local services will be relocated within the community, while office jobs will be consolidated to Auckland Council’s North/West Hub in Albany.

“Auckland Council will continue to occupy the Ōrewa Service Centre while this transition takes place, providing holding income while a new owner makes plans to unlock the site’s development upside.

“A new owner could explore a number of different options including reuse of the existing buildings, refurbishment, adaptive reuse or redevelopment.”

Auckland Council has committed to a triple net lease from settlement, returning $1 million in net annual rent. The lease runs until the end of 2023, after which there are no rights of renewal.

Shoneet Chand, Director of Colliers International, says the property provides more than 125m of road frontage and three access points to Centreway Road.

Ample car parking is provided, with some 253 on-grade parking spaces available.

The original Pacific Building was built around 1977 and refurbished in the mid to late 2000s. It provides 3,875sq m of office accommodation over two levels, generally to a stud height of 2.7m.

“The Pacific Building comprises four main wings that radiate from a central core,” says Chand.

“The ground floor features a higher stud reception and customer service area. Multiple stairwells and a lift at the rear of the lobby provide access to the first floor.

“Both floors have a combination of partitioned and open plan office accommodation, along with male and female amenities.”

The Tasman Building was built in the mid to late 2000s. It is a regular-shaped office building that provides 3,606sq m of space over three levels.

“The Tasman Building is connected to the Pacific Building via a stairwell and walkway to the eastern side of the building.

“All three floors generally provide well presented, open plan office accommodation, with partitioned offices and meeting rooms, staff amenities and lift access located to the central core of the building.”

Josh Coburn, Site Sale Director at Colliers, says Ōrewa is located north of the Whangaparaoa Peninsula, some 40km north of central Auckland.

“Ōrewa is known for its natural beauty and its proximity to the best the Rodney District has to offer. Its stunning surf beach provides 3km of golden sand that has been enjoyed by generations of holidaymakers, residents and retirees.

“To the north is the popular Wenderholm Regional Park and Puhoi historic village, while to the south is Silverdale, which has quickly become the residential, retail and industrial hub of Auckland’s northern suburbs.

“Ōrewa’s proximity to this development hub and its spectacular natural beauty have made it a highly sought-after, premium residential locale. This means it is the ideal site for a future residential, retirement or mixed-use development.”


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Shoneet Chand

Director

Auckland North

Shoneet is a Director at Colliers International and specialises in Investment & Development Sales over $2m across the wider Auckland region. Over the past 10 years he has been one of the most successful investment sales brokers in Auckland with a track record of significant sales second to none. He has had considerable experience in dealing with international purchasers and has completed a number of deals with investors out of the Middle East, Asia and Europe.

Shoneet was the top broker in his market for both 2014 and 2015 & once again placed in the top 10 brokers nationwide for Colliers in 2016.

In 2017, he transacted over $250 million of property, did 73 deals and was ranked 2nd in New Zealand.

In 2018, he was a finalist in the Commercial & Industrial Salesperson of the Year category which is judged nationwide across all agencies and again was the top broker in his market, being involved in over $300m of unconditional sales.

In 2019 he was again ranked in the top 5 brokers nationwide for Colliers and was involved in over $300 million of settled sales in the calendar year. 

Notable Transactions Include;

  • 2-4 Fred Thomas Drive, Takapuna - $60,850,000
  • 33 Corinthian Drive, Albany - $50,500,000
  • 279-301 Lincoln Rd, Henderson – $38,000,000
  • Todd Industrial Park, Wellington - $33,000,000
  • 229 Dairy Flat Highway, Albany - $33,000,000
  • ANZ Centre, Albany - $27,340,000
  • The Warehouse, Albany - $26,400,000
  • 11 Coliseum Drive, Albany - $26,700,000
  • Farro Fresh/ASB, Constellation Drive - $25,500,000
  • 5 The Warehouse Way, Northcote - $19,000,000
  • Noel Leeming, Wairau Park - $19,000,000
  • 16 Dinning Road, Riverhead - $16,500,000
  • 151 Lincoln Road, Henderson - $15,250,000
  • Westpac Albany - $15,150,000
  • 7-21 Kawana Street, Northcote - $14,998,000
  • PlaceMakers, Albany - $14,000,000
  • 550 Te Irirangi Drive, East Tamaki - $14,200,000
  • 44 Arrenway Drive, Mairangi Bay - $13,117,116
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Josh Coburn

Director | Site Sales

Auckland West

Tenacious, personable and driven, Josh Coburn draws on 16 years' experience in New Zealand's property sector in his role as Director of Site Sales at Colliers International. His key focus and passion are delivering quality development opportunities to the market and acting as a partner in the development process to see projects come to fruition.

Futhermore, Josh is the General Manager of Collier's West Auckland Business, overseeing 7 brokers in a rapidly emerging Metropolitan market.

Josh re-joined Colliers International in 2015 after four years working as the Development Manager for Haydn & Rollett Construction - a role in which he focused on development of commercial and industrial properties joint ventures, and commercial-scale residential opportunities.

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Alan McMahon

National Director | Strategic Advisory

Auckland CBD

Alan has overall responsibility for Strategic Advisory for Colliers International in New Zealand. 

He advises a wide range of public and private sector organizations. Clients include Auckland Council,  Progressive Enterprises, Massey University, Ngai Tahu Property, Ngati Whatua Orakei, Ngati Whatua o Kaipara, and various departments of the New Zealand government including Police, MBIE, Callaghan Innovation and Housing New Zealand.

 

 

 

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Jimmy O'Brien

General Manager | Director

Auckland North

Jimmy heads the Colliers North Shore team with a "lead from the front" approach. He specialises in both sales and leasing of commercial and Industrial Property, Now in his thirteenth year with  Colliers International he is constantly in the top 10 % of Colliers brokers.

A North Shore resident for over 40 years his local network and knowledge is extensive. Having come from a successful background of sales, marketing and manufacturing and a director of his own business for 20 years, Jimmy has built up a vast network of property developers, investors, architects, designers and corporate businesses both retail and commercial. With a broad knowledge as both a tenant and investor in the commercial property market his wide range of skills and extensive network will be an asset to any future clients.

Positions Held at Colliers:

March 2006: Industrial Broker

April 2008: Industrial Manager

July 2012: General Manager

February 2014: General Manager -Associate Director

June 2014: General Manager – Director

Through specialisation and a commitment to true team work, Jimmy and his team have sold property in excess of $1Billion and negotiated innumerable leases.

With a strong focus on finding property solutions for his clients, Jimmy has successfully represented AA Insurance, EasiYo Products, Sealegs, Johnson Controls, Electronic Navigation and Maxwell Marine to name a few.

Jimmy is consistently in the top 10% of Colliers brokers.

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