New service centre on State Highway 1 with off the plan lease opportunities
An all-new service centre opening this year on a strategic stretch of the Waikato Expressway provides a chance for retailers to secure tenancies with massive exposure to huge traffic flows.
Due for completion in late 2019, the high-profile property near Taupiri will be serviced by on and off ramps heading both north and south onto the North Island’s main arterial route, State Highway 1.
The retail centre is located just south of the Waikato Expressway’s new Huntly section, which is due for completion in early 2020, putting it within 15 minutes of Hamilton and an hour of Auckland.
Colliers International has been exclusively appointed to secure convenience and service retail tenants to operate from the new development.
Tenancies of between 80sq m and 500sq m are available to lease off the plans, with rents by negotiation.
The development will be anchored by international tenants BP and McDonald’s. BP will operate a full-service fuel and truck stop with associated convenience retail, and McDonald’s will operate a new generation site with a McCafé and drive-through.
Alan Pracy, Director of Colliers International Hamilton, describes the Taupiri Service Centre as “the service opportunity of a decade”.
“This is a chance to service the immediate and long-term future of the Waikato Expressway, which is a vital piece of infrastructure for the ‘Golden Triangle’ centres of Auckland, Hamilton and Tauranga.
“Once completed, the expressway will be the key strategic transport corridor for the Waikato region and connect Auckland to the agricultural and business centres of Waikato and Bay of Plenty.
“It will also improve economic growth and productivity through more efficient movement of people and freight.”
Pracy says the Taupiri Service Centre’s location on a new stretch of the Waikato Expressway, just out of Hamilton, makes it a convenient stop for traffic heading north from the city.
“It is also well positioned to service travellers from both directions who would have traditionally stopped in Hamilton.
“The completed Waikato Expressway will allow traffic to bypass Hamilton’s CBD and suburbs, making the service centre a key convenience stop for traffic diverted from the urban centre.”
Colliers International Broker Chan Singh says BP Service Centre Taupiri will appeal to a wide range of retailers.
“The tenancies are ideal for convenience food and beverage retailers being well suited to the site.
“Other prospective tenants could include a cafe, bakery, sushi shop, or local produce grocer.
“Limited tenancies are available, so don't miss your chance to service huge traffic flows and be on one of New Zealand's main arterial routes.”
The New Zealand Transport Agency (NZTA) is delivering the Waikato Expressway project over seven stages, at a cost of more than $100 million.
Due for completion in December 2020, the project aims to improve safety and reliability and reduce travel times and congestion on SH1.
The four-lane highway will extend from the Bombay Hills to south of Cambridge, reducing travel times between Auckland and Tirau by 35 minutes.
Among the key benefit, NZTA says the completed Waikato Expressway will increase the highway's capacity and passing opportunities; reduce traffic congestion within smaller communities like Huntly, Ngaruawahia and Cambridge; and reduce fuel costs and contribute to economic growth.
It will also significantly reduce the number of fatal and serious injury crashes by replacing all existing two-lane stretches of SH1 with a traffic-separated four-lane highway, engineered to the highest modern standards.
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